Pipe Network has officially launched its decentralized cloud platform on mainnet with the PIPE token launch. The project boasts a “backbone” for a full-stack cloud solution and aims to power various services through modules like CDN, Firestarter Storage, and an upcoming feature called P1. However, the launch came as a shock to investors when the price of the $PIPE token plummeted by 32% shortly after its release. The decline coincided with the network’s initial token generation event (TGE), which generated considerable buzz in the crypto community. While many see PIPE as a utility token offering tangible value due to its real-world proof-of-work contributions, others questioned the token distribution and delayed reward structure for early contributors.