Kraken Launches Perpetual Futures Contract for Pi Network's PI Token

Kraken has just launched the first perpetual futures contract for Pi Network's PI token, providing an exciting new way for traders to gain exposure to the asset.

Kraken, a major cryptocurrency exchange, has just launched the first perpetual futures contract for Pi Network’s (PI) token, providing a new way for traders to gain exposure to the asset.

The launch on a major exchange comes after a turbulent period for Pi Network, with the token falling 3.5% to $0.7821 on May 24 amid concerns over its volatility and centralization.

Kraken Offers Up to 20x Leverage for US Traders

With the launch of the new perpetual futures contract, Kraken Pro users can now go long or short on the Pi token with up to 20x leverage. The contract supports over 360 markets and accepts over 40 types of assets as collateral.

This move allows US traders to easily access Pi futures without any regulatory limitations or needing to switch platforms.

Unlike traditional futures contracts, perpetual futures have no expiration date, permitting traders to keep their positions open indefinitely—though funding fees may apply based on market conditions.

The listing is seen as a sign of potential increased institutional interest in Pi, despite the token not yet being available on major exchanges such as Binance or Coinbase.

Centralization and Privacy Issues Raise Concerns

Even though the development team continues to work on it, Pi Network has faced criticism for its token distribution and privacy practices. Currently, around 60% of the total PI supply is still held by the project’s core team.

Dr. Altcoin, one of the leading supporters of the Pi Network, raised concerns about the lack of transparency from the Pi Core Team, particularly regarding how user data is collected and used.

He highlighted the potential misuse of this data for:

Without clear disclosure, user trust and data privacy remain in jeopardy, he added.

Ecosystem Update from Pi Network

Amidst the controversy, Pi Network announced several updates to its ecosystem, including:

This update showcases ongoing efforts to increase Pi’s utility and engagement in its ecosystem, although questions about transparency and market readiness persist.

Overall, Pi Network’s entry into Kraken’s futures platform is a significant milestone, offering greater visibility and new instruments for traders. However, the price decline, transparency issues, and the core team’s dominant token ownership may continue to dampen market sentiment.

With increased attention from institutions, the next steps of the Pi Core Team—especially in communication and decentralization—will be closely observed.