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$PI PiRC1 launch on GitHub marks a significant milestone in the development of the Pi Network ecosystem, with its importance and potential impact mainly including the following points:
· Technical milestone: The launch of PiRC1 paves the way for the core team to advance smart contract functionalities. This signifies the project's evolution from a simple transfer network to a programmable blockchain platform.
· Activation of ecosystem and economic models: This standard provides a foundation for developers to create on-chain applications such as DeFi and NFTs. At the same time, its mechanism may require developers to stake Pi coins to run applications, which could reduce circulating supply and support the coin's price.
· Symbolic significance for the community: This move demonstrates tangible code delivery to the community, helping to boost holder confidence ahead of the open mainnet and attracting more developers and investors.