Regarding the PCT's launch of the Hackathon 2025 competition, some people may not understand what the purpose of this initiative is.
Here are my thoughts:
The PI Hackathon 2025 is set to kick off on the 21st. I believe that PI is using this competition to select well-designed apps to be launched, similar to how a company holds a logo design contest to choose what they consider the best and most liked design, rather than randomly hiring a design firm that ends up needing constant revisions and still not being satisfied with the final product.
Therefore, I think the PI Hackathon 2025 competition is very effective in rapidly developing the most useful top apps for the ecosystem.
Moreover, this can be inferred from the official statement, which mentions: "Making meaningful contributions to the Pi ecosystem by building real-world applications."
This implies that the hackathon is not just a competition, but also a process of screening and nurturing ecosystem projects. Rather than being a simple prize competition, it seems that PCT hopes to attract global developers through this method, quickly developing and selecting the best applications that can enhance the utility of Pi tokens, and possibly integrating these applications into its ecosystem.
So, the hackathon prize of several thousand Pi actually equates to the fact that if the app is well-designed, it will definitely attract management; even if no one manages it, there is a high probability it will be bought and managed.
If management is needed, liquidity will be essential, so the prize money essentially provides liquidity for these winners. Of course, there are no restrictions on how they should use this prize money, but if they can design something good, they will certainly have the intention to promote it, and in a short time, there will be a high probability of needing liquidity.
So strictly speaking, believing that the prize money of several thousand Pi will be dumped on the market is less accurate than saying that this prize money will lead to the launch of apps that require a large amount of Pi tokens for utility. Thus, this competition belongs to PCT's strategy of exchanging 10,000 Pi for a market demand of 1 million Pi.
Therefore, this is a competition that rapidly creates a large demand for Pi in the market, which is a common practice in the market.
Reminder: Pi Hackathon 2025 begins this Thursday, August 21! Participants should get started now to register for the hackathon and begin forming or joining teams.
27.47K
12
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.