Kraken Expands Trading Opportunities with 20x Leverage for U.S. Investors
Kraken Pro has just launched a new perpetual futures contract, allowing users to trade Pi with leverage of up to 20 times. This contract supports over 360 markets and accepts more than 40 types of collateral assets, providing easier access for U.S. traders without the barriers of regulation or platform restrictions.
Unlike traditional futures contracts, perpetual contracts have no expiration date, enabling traders to maintain long-term positions. However, funding fees may apply depending on market conditions. This listing is seen as a sign of growing institutional interest in Pi, even though this cryptocurrency is not yet available on major exchanges like Binance or Coinbase.
Concerns About Centralization and Privacy
Despite achieving some progress, Pi Network still faces criticism regarding token distribution and security. Currently, about 60% of the total Pi supply remains in the hands of the core team, raising concerns about centralization.
“Dr. Altcoin,” a prominent supporter of the project, has expressed serious concerns about the transparency of the Pi Core Team, particularly regarding user data collection and usage. He warns that this data could be misused for purposes such as:
- AI training
- Identity theft
- Tracking real-life user behavior
Without clear transparency, community trust and data privacy may be severely threatened.
Related: Why Listing Pi on Coinbase is Better than on Binance
Updates on the Pi Network Ecosystem
Amid the controversy, Pi Network has announced several notable improvements:
- Integration of five new community applications into the Pi Mainnet ecosystem interface, enhancing user experience.
- Simplification of the account recovery process, increasing accessibility and encouraging participation.
These updates reflect Pi Network’s ongoing efforts to improve the utility and appeal of its ecosystem, although many questions remain about transparency and market readiness.
Final Thoughts
The listing of Pi Network on Kraken’s futures platform is a significant milestone, opening opportunities for increased liquidity and market attention. However, pressure from declining prices, concerns about transparency, and token centralization may continue to affect investor sentiment. The next moves of the Pi Core Team, especially in improving communication and promoting decentralization, will be closely monitored by the community.
