The PIPE token fell 30% after its launch amid rumors of reward delays
The PIPE token of the decentralized content delivery network Pipe Network fell by 30% after trading began, following profit-taking by early holders and community concerns over delayed reward distributions.
On October 8, PIPE debuted on major exchanges — including Binance Alpha, Gate, MEXC, KuCoin, and several DEXs — at a price of $0.30, but quickly dropped to $0.20 before partially recovering. At the time of writing, PIPE traded at $0.25, down nearly 29% from its launch price.
The project aims to build a decentralized content delivery network (CDN) on Solana, designed to enhance data transmission via Points of Presence (PoP) nodes located near end users — reducing latency, increasing delivery speed, and minimizing reliance on centralized data centers.
Ecosystem support from Solana
According to the project’s website, the core developers previously worked at Amazon Web Services (AWS). Since Pipe Network operates on the Solana blockchain, Solana co-founder Anatoly Yakovenko is listed as an angel investor, while Solana Ventures, Multicoin Capital, Robot Ventures, and Meltem Demirors are among the institutional backers. With their support, the project reportedly raised around $17 million.
Per the tokenomics, the total supply of PIPE is 1 billion tokens, with 100 million distributed to early users. However, after trading began, reports surfaced about delayed reward payments to some users and node operators.
While these claims appear isolated — possibly related to the complexity of converting pre-TGE reward points into PIPE tokens — the rumors may have contributed to cautious market sentiment and a sell-off, despite strong backing from Solana and Anatoly Yakovenko.
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