The reason for this is the following：
When RMB is recharged to buy π coins, it is first converted into US dollars at the exchange rate (20 17.7.26 RMB is converted into US dollars 1), and then π coins are purchased at the exchange rate (20 17.7.28 US dollars 5.98 purchase 1π coins). In the process of recharging, the US dollar is used as the currency.
This handling fee is still quite high (they say it is six thousandths). If you put your funds (π coins) in this "balance treasure", you won't be able to earn back the handling fee if you appreciate 10 days.
π coins are expensive to buy (5.98 to 1π coins) and cheap to sell (5.97 to 1π coins) in the exchange in the app. I just hope that you will put the funds in and not take them out, waiting for the appreciation and occupying your funds. As long as it is realized as RMB, it will be sold, which is a loss.
This π coin is not the currency issued by the state with the economy (equivalent gold or monetary credit of the state finance), but the virtual value issued by a certain group, which will be risky. Registration only requires a mobile phone number, not an ID card. It means that it is not an act of the state, and there is a risk that this monetary value cannot be realized.
In other words, if this app is banned or shut down by the competent authorities of the national government, then the virtual currency purchased by the RMB that you recharged will be gone. So this is a scam.