To the vast number of pi users, I have a question for everyone: What do you think about the following views? 1. The pi wallet can only purchase pi using fiat currency through card payments, while banza can be said to merely assist in selling pi and help investors from a hundred countries use their local fiat currencies to exchange for pi. 2. Therefore, when investors receive the pi sold on consignment, banza receives fiat currency from a hundred countries, assists in converting it to USD, and then returns the USD to the suppliers providing pi. 3. Thus, it can be understood that the pi wallet generates its own on-chain price based on independent on-chain liquidity, which is unrelated to exchange prices. 4. Therefore, the pi wallet only has the function to purchase from an independent on-chain liquidity pool, which consists solely of fiat/pi. There is only a purchasing function, with no selling function. Hence, it can be inferred that the price fluctuations of pi come from foreign exchange. For example, pi/USD, pi/EUR, pi/RMB, pi/JPY, pi/AUD. It is known that all foreign exchange is based on USD as the settlement benchmark, so it can be understood that since the wallet only has a purchasing function, the only way to cause a decline in the on-chain price of pi is through fluctuations in a basket of foreign exchange. However, the fluctuations in foreign exchange are very small, so any decline will also be very small. On the other hand, the liquidity suppliers for pi seem to come from exchange supplies, but the exchange only supplies pi, which is unrelated to the price of pi within the exchange. Therefore, there will be two prices generated here: one is the on-chain price, and the other is the price of pi on the centralized exchange itself. 5. From the above, it can be understood that when all the on-chain pi is bought out and liquidity decreases, the constant liquidity multiplication formula will automatically balance the dual currency prices, resulting in an increase in the on-chain pi price. *Here comes the question: How do you view the situation where the on-chain pi price and the exchange price may differ significantly? Because the exchange price can be manipulated, but the on-chain pi price is based on a basket of fiat currencies, and there is no function to sell pi for fiat on-chain. There is also no pi/usdt pool on-chain. Therefore, the on-chain pi price is unlikely to drop significantly. Have you ever thought about the scenario where the on-chain pi price is 0.45, while the exchange price is manipulated to 0.1? What are your thoughts on this?