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Hyperliquid will adopt a new system to calculate fees on the platform, which includes different tiers for staking as well as separate fee schedules for perpetual contracts and spot trading. In a recent post , the decentralized exchange announced that it will start implementing the new fee system and staking tiers starting from May 5 at 03:00 UTC. The new fee system includes lower trading fees when users stake HYPE ( HYPE ), the platform’s utility token. Based on the staking tiers, users will be eligible for trading fee discounts ranging from 5% to 40%. Divided into six staking tiers, the discounts will be determined by the amount of HYPE staked. For example, the lowest tier called “Wood” requires a minimum of 10 HYPE staked. Users that stake Wood can receive a 5% discount on their trading fees. On the other hand, the higher tiers like “Platinum” and “Diamond,” offer discounts up to 40% if users stake HYPE above 100,000 or more than 500,000. In addition, Hyperliquid will start introducing separate fee standards for perpetual contracts and spot trading. Perpetual contracts and spot volume will be added together to determine a user’s fee tier. Not only that, spot volume will be counted as double its amount for calculating the fee tier. Another new feature that will also be introduced along with this update is that users can link their staking and trading accounts on the testnet. This would allow users to use the staking discounts received from one account and apply it towards a different trading account. According to the blogpost , linked staking accounts will be able to gain full access of the funds on a user’s trading account. The staking user will not receive any staking-related fee discounts after being linked. The act of linking an account is permanent, and once two accounts are linked, they cannot be unlinked. Hyperliquid stated that the account linking feature is expected to go live not long after the introduction of fee systems and staking tiers. Last month, Hyperliquid delisted JELLY perpetual contracts from its platform after experiencing a loss amounting to $10.63 million due to a sudden 230% surge in the token’s price. The Hyperliquid team suspected market manipulation was behind the token’s sudden spike.

Pi Network has initiated the first phase of its mainnet migration, allowing KYC-verified users to transfer their mined $PI tokens to the mainnet. This marks a pivotal step toward enabling real-world utility and potential exchange listings. The migration aims to ensure accuracy, security, and fairness by excluding fraudulent activities accumulated over the past six years. However, the process has faced hurdles. A temporary pause occurred due to issues with email-based two-factor authentication (2FA), as many users had outdated or unlinked email addresses. This led to security concerns and necessitated a review of the email verification process. 📉 Market Performance: Recent Trends $PI’s market performance has been underwhelming. Following the mainnet launch on February 20, the token experienced a 46% price drop, leading to community frustration over its lower-than-expected valuation. Currently, $PI is trading at approximately $0.5769, with a 24-hour trading volume of around $105.7 million. This represents a 7.2% decline in the last 24 hours and an 8.4% decrease over the past week. ⚠️ Risks and Concerns Several factors pose risks to $PI’s value: Inflated User Numbers: While Pi Network claims over 60 million users, blockchain explorers indicate only about 9.11 million wallets, with 18 million KYC-verified users. This discrepancy suggests overestimated adoption and potential weak network growth. Token Inflation: The circulating supply has doubled to 5.56 billion within a year, with no clear cap. Continued inflation could dilute value and deter long-term investment. Lack of Roadmap: The absence of a clear post-mainnet roadmap raises concerns about the project's direction and sustainability, potentially eroding user trust. 🔮 Outlook: What Lies Ahead? Despite challenges, Pi Network’s community remains hopeful. Rumors suggest that the open mainnet could launch in the coming weeks, enabling $PI holders to trade their tokens on major exchanges like Binance, OKX, and Bybit. However, for a positive trajectory, Pi Network needs to address its current issues, provide a transparent roadmap, and ensure a smooth migration process. The project’s ability to navigate these challenges will determine its long-term success in the crypto space.

Pi Network’s Know Your Customer (KYC) verification process has come under intense scrutiny (again) as numerous users report persistent difficulties, delays, and, in some cases, complete loss of their Pi tokens. This isn’t the first time this has happened, as many X users have reported issues in the last several days or so. These problems have raised concerns about the platform’s transparency and user trustworthiness, with similar problems occurring a few years ago as well. For instance, in a Reddit discussion from 2023, people have been complaining about their submissions taking years to finish. Pi Network released the Mainnet Migration Roadmap on April 18, but there have been reports of a lack of specific timelines, error reporting mechanisms, and audit systems for reward discrepancies. This just adds more fuel to the fire of growing distrust. The situation worsened when Pi Network set a hard deadline in mid-March, requiring users to complete KYC verification and migrate their Pi balances. Those who missed the deadline forfeited large portions of their tokens, retaining only coins mined in the six months before migration. As such, many users have expressed frustration over the KYC process, citing prolonged verification times, application errors, and the absence of clear communication from the Pi Network team. Some reported their applications being in review for extended periods without updates, while others faced technical glitches during migration. Naturally, all of this combined took a toll on the Pi cryptocurrency’s value. Following the March deadline, Pi’s price experienced a notable drop, falling over 55% from its all-time high. In the past seven days, it had a decrease of around 2.8%, while in the last 30 days, the drop is almost 23%. Granted, most cryptocurrencies had it rough during March due to the Trump administration’s tariff policies, but Pi has been in a steady decline since the start of March. At the time of writing, the cryptocurrency’s price is sitting at approximately $0.6164, while in late February, it was almost $3. Pi Network’s promise of a decentralized, user-friendly cryptocurrency has attracted over 100 million app downloads, but the ongoing KYC issues are ever-present. This has the possibility to deter a lot of those users, though how much exactly we’ll yet have to see. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Multi-chain DEX aggregator 1inch launches on Solana network Multi-chain decentralized exchange (DEX) aggregator @1inch $1INCH has officially launched on the Solana $SOL network, enabling 1inch to introduce its Fusion protocol, on-chain swaps and six developer APIs to Solana, The

Bitcoin and broader crypto markets were little changed in the past 24 hours with exchange-traded funds (ETFs) tracking the asset attracting over $590 million in inflows on Monday, extending a six-day streak. time since late March, coming as bitcoin’s appeal as a safe-haven asset continues to gain favor among investors. BlackRock’s IBIT led flows at $970 million, while Ark’s ARKB lost $200 million. $BTC held above $94,000 in Asian morning hours on Tuesday, a resistance level whose break traders say could clear the path to a move toward $100,000. $XRP , ether (ETH), Cardano’s $ADA and $BNB Chain’s $BNB remained flat, while Solana’s $SOL was down 2%. Monero (XMR) dropped 8.5% after a sudden 40% surge on Monday, a move that came as a hacker swapped over $330 million of BTC to the privacy-focused token, per prominent blockchain sleuth ZachXBT. Bitcoin and crypto markets remained stable, with ETFs attracting over $590 million in inflows, marking a week-long streak. BlackRock's IBIT led with $970 million in inflows, while Ark's ARKB saw a $200 million outflow. Traders are watching economic data releases for market cues as Bitcoin holds above $94,000, with potential to reach $100,000.