Pi Network Partners with Open Standard to Explore Rewards and OUSD Utility
Pi Network, a decentralized finance (DeFi) platform, has partnered with Open Standard, the company behind the stablecoin OUSD. The partnership, announced on September 30, aims to explore rewards for Pi Network's Pioneers and wider utility for the OUSD stablecoin.
However, the Pi Network ecosystem is still in its early stages, and several key components are missing. For instance, the network has not yet disclosed the rules, eligibility, and timelines for Pioneer rewards, nor has it revealed how OUSD will be used on the Pi Mainnet.
The Pi Network infrastructure already includes several building blocks, such as the Open Network, which has been enabled since February 2025, and Protocol 27, which was completed on Mainnet in late September. Additionally, the network has a Launchpad Tokens section in its block explorer.
Despite these developments, the Pi Network ecosystem still lacks stability, with the daily volume of $6.34 million suggesting shallow liquidity for any stablecoin flow. Furthermore, the base layer of the Pi Network is moving, but the stablecoin-based layer is not yet built.
The partnership with Open Standard has sparked debate within the Pi Network community, with some claiming that Pi was designed as a stablecoin project all along. However, these claims remain unverified, and the Pi Network team has only described exploration of rewards and wider utility for OUSD.
The price of Pi (PI) has been affected by the broader crypto market, with a 1.77% decline in the last 24 hours. The market capitalization of PI is $998.08 million, with a circulating supply of 11.24 billion out of a total of 100 billion.