Arweave to Launch PI Token on March 14th

Arweave is set to launch the PI (Permaweb Index) token on March 14th, coinciding with Pi Day. This new token expands the options for AR token holders and those depositing stETH/DAI to customize how they receive their yield.Yield can now be received in AO tokens, AR tokens, or the new PI tokens, providing more flexibility for users in their yield management strategies.AR InfoArweave is a decentralized storage network designed for indefinite data storage. It functions as a “collectively owned hard drive” that supports “the permaweb”, a permanent, decentralized web with various community-driven applications and platforms.The Arweave network operates using a “blockweave” technology, a variation of blockchain where each block is linked to both the previous block and a random earlier one. This structure incentivizes miners to store more data, as they need to access random previous blocks to add new ones and earn rewards. This mechanism ensures the indefinite storage and accessibility of data across time.The native cryptocurrency of the Arweave network, AR, is used to compensate miners for storing the network’s data indefinitely. Arweave also supports a sustainable ecosystem with “profit sharing tokens”, enabling developers to earn dividends from transaction fees generated by their applications. Additionally, the project provides support to startups through its “Boost” program, offering free storage and access to the Arweave team and industry investors.