Frustration is mounting within the Pi Network community. As the Pi token sinks to new record lows, users are increasingly voicing their worries about the project’s future path.

Adding fuel to the fire, Pi Network Turkey, the largest regional community group, released a strong statement on April 3rd. They accuse the project team of ignoring the community’s input, highlighting a growing disconnect.

The core of their complaint? Pi Network Turkey argues that the developers have shifted to a “top-down” approach. This, they say, goes directly against the decentralized principles that Pi Network was initially built upon.

Their statement, linked here, powerfully expresses their disappointment:

“The things we once looked forward to with excitement have now become mere disappointments. What kind of conscience is it to so easily consume people’s faith and hopes? What kind of morality is it to disregard the labor, time and dreams of so many people?”

Key issues

Pi Network Turkey didn’t hold back, laying out their concerns in a comprehensive breakdown. Their list of grievances includes major points like the continued delays to the open mainnet launch, a lack of clear communication about finances and partnerships, and confusion surrounding the network’s decentralized app (DApp) plans.

Specifically regarding DApps, they point out a significant lack of clarity. It’s unclear, they say, just how many functional DApps are truly up and running and offering genuine value within the Pi Network.

Adding to these issues, they noted the absence of significant partnerships with real businesses. Perhaps the biggest issue driving their discontent is a growing sense of distrust, fueled by repeated delays and promises that haven’t materialized.

Feeling unheard, Pi Network Turkey announced an “unfollow protest.” They are urging “pioneers” (Pi Network users) to unfollow official Pi Network channels and make their dissatisfaction known across social media.

And they’re not stopping there. The group has warned of even stronger actions if their concerns aren’t addressed. This could include coordinated one-star reviews of the Pi Network app and a larger social media campaign under the hashtag #PiNetworkProtest.

Pi all-time low

This wave of protest arrives at a critical moment: the value of the Pi token is plummeting to its lowest point since it launched.

According to CryptoSlate data, the token has sunk approximately 14% in just the last 24 hours. Currently trading close to $0.50, Pi is at its lowest price ever, having lost over 80% of its value since its peak on February 26th.

Some analysts suggest that these price drops are linked to ongoing “token unlocks.” This month alone, around 120 million PI tokens – estimated to be worth $62 million – are expected to be released into circulation. So far, the Pi Network has released 4.9 billion PI, with another 1.54 billion planned for release over the next year.

Looking at the bigger crypto picture, some observers believe Pi Network’s struggles are also tied to a growing reputation problem. Skepticism is mounting about whether the project is simply riding the Web3 wave without actually delivering on its core promises.