The Pi Network ecosystem is undergoing significant developments on both the utility and market fronts. On one side, the project is rolling out a more structured and rewarding mechanism for token launches via its Pi Launchpad. On the other, the Pi token's price is showing concerning technical patterns amid waning demand.
The Pi Launchpad model introduces a dual-action system of staking and committing Pi. Staking Pi grants users "PiPower," which determines their allocation limit for buying tokens during a launch. This staked Pi is returned after the participation window. To actually purchase tokens, users must commit Pi, which is spent as payment at the initial listing price and is not refunded.
A key advantage is offered to actively engaged users. According to analysis by crypto user Woody Lightyear, participants with higher engagement scores can receive discounts on the initial listing price. This means they can acquire more tokens for the same amount of committed Pi compared to standard participants. For example, a highly engaged user might receive 13 tokens for 5 Pi, while a regular participant gets only 10 for the same amount. Access to tokens at the initial price is exclusively through the Launchpad.
Concurrently, Pi Network's price has formed a bearish head-and-shoulders pattern, trading at approximately $0.1750. This represents a 40% decline from its year-to-date high and a more than 90% drop from its all-time high. Demand and liquidity have waned significantly, with 24-hour trading volume plummeting to around $18 million from over $90 million in March. Most volume is concentrated on OKX, followed by Bitget, Gate, and MEXC.
The declining demand coincides with a growing token supply. The network is set to unlock over 200 million tokens this month and 1.6 billion in the next 12 months. Notably, the largest Pi whale, holding 401 million tokens (worth over $69 million), has not made a purchase in 11 days.
Despite market pressures, the Pi Core Team is advancing major technical initiatives. A network upgrade to Version 23 of the Stellar Consensus Protocol is underway, introducing smart contract capability via an RPC server. This enables development in DeFi and RWA tokenization. The team is also implementing a second migration to move verified users' tokens to the mainnet and plans to launch a KYC-as-a-Service feature. The recently launched token launchpad is part of upcoming DEX and AMM features.
