Pi Network (PI) says it has fixed crypto's habit of letting projects raise money fast and exit before delivering any working product.
Pi Core Team Renews Its Claim
The project's Core Team returned to the argument in a fresh post on X, naming token issuance and quick exits as the flaw it believes it has now addressed.
The complaint is not new for the team. Co-founder Dr. Chengdiao Fan pressed the point at the Consensus 2026 conference in Miami earlier this month.
She told the audience that too many tokens exist to raise capital rather than to support real product innovation, and that the industry sees too much value extraction without matching value creation.
Pi's answer is the Pi Launchpad, a token launch platform the team described as a way to help projects acquire real users who engage, give feedback, and actually use the tokens.
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Why The Launchpad Matters
The design forces a working application before any token can launch, and routes proceeds into liquidity pools rather than straight to project wallets. That structure aims to cut hype-driven listings that fade once trading begins.
Analysts have framed the model as an attempt to solve the so-called cold-start problem. Developers gain access to Pi's verified user base, which the team puts at roughly 18 million KYC-checked Pioneers.
Fan argued that crypto's financial tools, including smart contracts and liquidity, have run ahead of the slower work of building useful software.
Not everyone is convinced. Critics note that a vetting process controlled by the Core Team reintroduces a central gatekeeper, trading scam protection for the permissionless quality that defines public blockchains.
The Launchpad was first announced during the Pi Day celebrations on Mar. 14, alongside protocol upgrades, second Mainnet migrations, and validator rewards, marking the project's largest update in its seven-year history. The team has said the real test comes when the first product-first tokens reach Mainnet and prove whether the model holds.
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