Pi Network announced a partnership with Open Standard on September 30, when the Open USD (OUSD) stablecoin officially launched. Partners of Open Standard, including Visa, Mastercard, Stripe, and Coinbase, facilitate the integration of the dollar-pegged asset, which is now available on Ethereum, Solana, Base, and Tempo. OUSD has already launched on exchanges such as Coinbase, Kraken, and Uniswap. According to reports, Open Standard is rapidly expanding, with its network comprising over 200 financial institutions and businesses with a total liquidity of more than $1 billion. OUSD is issued through Stripe's Bridge, with reserves held at BlackRock, Lead Bank, and BNY Mellon. This makes Pi Network's announcement particularly significant for its community, despite the lack of details regarding potential rewards for Pioneers.
According to the Pi Network team, the partnership memorandum aims to explore ways to provide rewards related to OUSD and enhanced utility for the Pi user ecosystem. However, Pi Network has not yet clarified how the rewards program for Pioneers will work, who will be eligible to participate, and when it may be launched. It is also unclear whether OUSD will be natively supported on the Pi blockchain. These nuances have not yet been disclosed.
According to reports, Pi Network and Open Standard are exploring the possibilities of implementing rewards related to OUSD, which could indicate a more active user engagement in the Pi ecosystem. Over the past year and a half, Pi Network has been striving to expand its capabilities beyond simple token transfers, which could lead to increased real activity within the network. Thus, despite the uncertainty of the details, the prospect of new opportunities for users remains intriguing. It is well-known that Open Standard has been growing its network since its launch. Currently, the number of participants has exceeded 200, indicating a high interest in the stablecoin and its integration with various payment systems and financial institutions. This makes the partnership announcement particularly important, as it has the potential for significant impact on the Pi community.
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