$PI 🌐 Web3 in a Nutshell — Plus What Pi Network Adds

DeFi — Decentralized Finance
Think of it as “finance without the middleman.”
It’s all about managing money, loans, and trades purely on blockchain tech. No banks, just code.
DAO — Decentralized Autonomous Organization
Imagine a community where everyone votes on decisions and a smart contract makes it happen. It’s a group run by its members, not by a boss.
DEX — Decentralized Exchange
This is where you trade crypto directly from your own wallet. No accounts, no companies in the middle — just pure peer-to-peer trading.
CEX — Centralized Exchange
Think of this as a “crypto bank.” It’s user-friendly and convenient, but you trust a company to hold your funds.
What’s Been Missing in Web3?
Web3 has the tools but not the trust. There’s been no way to verify who is who. That’s where Pi Network steps in.
Pi Network’s Key Additions: KYC & KYB
KYC (Know Your Customer) means everyone is a real human, not a bot.
KYB (Know Your Business) means merchants and services are real, verified businesses.
In other words, Pi adds the identity layer to Web3, making it a space where real people and real businesses can actually trust each other.
The Bottom Line
Web3 is the open, decentralized future of finance and governance. Pi Network makes it trustworthy by ensuring that the participants are real.