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#PI Pi Wallet is a native coin, and once it is transferred from the wallet to the exchange, it becomes a token. Their values are also different. You can check KOSASIH's tweets for more information. KOSASIH is one of the developers from the Nicholas team, and the dual system he developed is still in testing and will soon be launched in the market. These merchants can connect to the dual system through the SDK port, and its price is executed by smart contracts.
Users migrating coins should not transfer their coins carelessly to the exchange; the coins in the wallet and those in the exchange have dual value.