Blockchain News

Pi Chain Mall Set to Introduce Platform Fees For Sellers and Improve Ecological Development

The protocol will introduce a poll in the coming weeks to allow users to vote on the platform's fees. The fee would be used to promote ecological growth in its ecosystem while also offering a fee-free experience for buyers.

Improving Ecological Development 

Pi Chain Mall (PCM), the largest e-commerce platform providing exchange services for Pioneers on Pi Network, is set to introduce something new into its ecosystem. The top Pi Network platform is set to introduce "Platform Fees" for sellers while providing a fee-free experience for buyers and improving ecological development. 

The platform announced the innovative idea on Twitter and confirmed it with BSC News on Monday, May 22. According to the PCM core team member Edwin, the innovation would ensure sellers sell their products at relatively low fees and earn $PI. Further, it would also enhance the protocol's ecological development by incentivizing top players in its ecosystem, including volunteers, moderators, and more. Edwin shed more light on the reason why the service fee was introduced. 

"The service fee was introduced because Pi Network's ecological application development requires funds, and many people in our team are volunteers, who serve the Pi community without any fiat/crypto return," Edwin said. 

Regular e-commerce platforms, including Amazon and eBay, charge sellers on the platform relatively high fees ranging from 8-45%. But with PCM's initiative, users could sell at cheaper rates. To make this possible, the platform will hold a poll in the coming days for Pioneers to vote for the optimal fee structure on the platform. 

"When we met with the pi core team, we asked the PCT for the proportion of transaction service fees we should take. PCT hopes that we can determine the proportion through community surveys, so we will publish this vote in the coming week," Edwin confirmed the poll with BSC News. "We will use the service fee to pay volunteers (including country leaders, designers, moderators, etc.) who have been involved in Pi Chain Mall ecological development for two years.  Thanks to all the team members and volunteers who support ecological development. We are proud to have them in the Pi community."

The platform fees will enhance PCM's sustainability and growth. With its introduction, the team can continue to improve its services and provide support to its community, including members involved in its ecological development. Through the poll, users can contribute to the protocol's decision, and the graphic within the tweet provides a clear overview of how e-commerce platforms charge sellers. With the graphic, users would be able to contribute reasonably to shape its future in the e-commerce industry. 

What is Pi Network?

Pi Network is a mobile mining blockchain with an application that lets people earn Pi coins by doing simple tasks on their phones. However, the project remains in its development stage with delivery of an open mainnet still a matter of speculation, with no launch date confirmed. 

With this in mind, the protocol remains in its testnet stage and will apparently go live when many users (Pioneers) complete the mandatory KYC procedure while the core team works on developing its ecosystem.

Pi Network is also reported to be under investigation by authorities in Vietnam and users should exercise a high degree of caution when interacting with the project and ensure they have conducted sufficient research before doing so.

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