Key Highlights
- Ecosystem token design: Pi emphasizes utility-focused tokens tied to real products, with proceeds going to a Liquidity Pool, not the project.
- Pi KYC expansion: KYC service will be offered to Web3 and traditional businesses, keeping user data private and enabling real-world asset integration.
- Community and growth: Pi celebrates its first Open Network anniversary with Pioneer recognition programs, ecosystem growth, and ongoing Mainnet preparations.
Pi Network has shared full details of its Ecosystem Token Design through a Pi Request for Comment (PRC) and is asking the community to give feedback before Mainnet.
The announcement comes amid Pi marking the first anniversary of its Open Network, reflecting a year of growth in app development, developer activity, and community involvement.
Community feedback encouraged
As per the post, Pioneers are invited to look over the ecosystem token design on GitHub and share their feedback through issues or pull requests. For those without a GitHub account, Pi provides a Google Form for high-level feedback.
The Pi Founders also highlighted several core questions for the community:
- Why Pi feels different from other blockchains and the importance of utility
- Current network priorities
- The purpose and design of Pi ecosystem tokens on Mainnet
- The significance of Pi KYC and future plans
- Pi’s focus on AI and its relation to blockchain
Focus for the coming year
Pi’s plan for the coming year is centered on practical use, getting more people on the network, verified identities, and making the experience better for users. Over the next year, Pi intends to create more opportunities for building apps and useful products, improve tools for developers, and encourage innovation across the ecosystem.
The network also aims to make KYC checks and the Mainnet migration faster, align Web3 tools with new products, tackle challenges like digital identity and interoperability, and make it simpler and more rewarding for developers, businesses, and Pioneers to participate.
The goal is to make it easier for everyone to build, participate, and engage within the Pi ecosystem, while supporting the growth of products and services that have real-world value.
Ecosystem token design on Mainnet
Pi ecosystem tokens are tokens created by the community to support practical utility and product development. The network makes it clear that the way these tokens are designed and used in real products and services is critical for how they will work on Mainnet.
Pi also noted a common problem in the crypto world: most tokens are made mainly to raise funds instead of being useful. Pi’s approach tries to fix this by tying tokens directly to real products and services. Pi’s approach differs: “Pi is uniquely positioned to provide a different path because of the collective resources the network has, e.g., a large community with real users for real products. Pi’s approach is to integrate crypto tokens directly into the evolutionary process for products and innovations.”
The Pi token model introduces several distinct features:
- Projects must have a working product (functional app) before issuing a token
- All proceeds from participants acquiring the tokens are deposited into a Liquidity Pool to support token stability, instead of going to the project
- Participants may receive favorable terms or benefits during the token launch through engagement with the product
This model encourages projects to focus on user acquisition and product utility rather than capital-raising. Pioneers are expected to hold projects accountable, provide feedback, and engage in meritocratic access to the utility token.
Expanding Pi KYC beyond the network
Pi KYC is essential for keeping the Pi Network secure. Beyond the network, Pi will offer its KYC service to Web3 projects and traditional businesses, while keeping user data private.
The service will work globally and scale as needed. It will use a mix of automated checks and human verification, follow compliance rules like sanctions screening, and support comparisons across networks and different regulations.
Pi believes that verifying identities is essential for integrating real-world assets. In a world where automated systems and AI can mimic human behavior, being able to confirm who is real is critical. KYC, therefore, will play a central role in the network’s future applications.
Ecosystem growth since open network
Since the launch of the Open Network, Pi has grown in many areas, including Mainnet migration, developer activity, app creation, and overall network participation. These results reflect the efforts of Pioneers, developers, businesses, and KYC validators around the world. Pi has also shared an infographic showing key growth metrics from the past year.
Pioneer recognition initiatives
To celebrate its first Open Network anniversary, Pi will introduce a program to recognize Pioneer contributions. The program will include commemorative in-app badges and a community raffle. Details on how to participate, eligibility, and timelines will be shared in a separate announcement.
Anniversary significance
The first Open Network anniversary highlights the work of Pioneers around the world. From building apps and validating identities to taking part in ecosystem activities, the community has played a key role in shaping Pi Network into its current form.
“Pi has always been a collective effort. The ecosystem’s continued progress will remain driven by the collaboration between developers, businesses, and Pioneers working together to create meaningful utility and real-world adoption—a path that was not taken by others.”
Also Read: PayPal Shares Down 30% Since Launch of PYUSD Stablecoin