One of the leading cryptocurrency exchanges in the world, HTX, announced that it will support the long-awaited launch of the Pi Network (PI) mainnet by taking down its IOU-based PI token and exchanging user holdings for USDT at a rate of 1:61.28.
The exchange will stop all PI IOU coin trading on February 13 at 08:00 UTC. Open orders will be automatically canceled. User spot accounts will be automatically credited with the converted assets.
Retail investors are becoming more interested in Pi Network’s possible move from a closed ecosystem to a fully operational blockchain, which has led to the move.
Also, HTX confirmed that the new PI token will be listed after the mainnet launch. In a statement, the exchange said, “Once the mainnet launches successfully, HTX will quickly list the new token PI and open spot trading services.” Users were asked to stay tuned for more information.
HTX’s delisting has also filled a gap in Pi IOU trading, as the coin recently plunged 21% in just a day.
Pi Network is a blockchain project that is focused on mobile devices. It has millions of users thanks to a mining system that doesn’t require any initial investment.
Also Read: Bitget announces Listing of Pi Network Token (PI) on Feb 20
