Pi Network News: Founders Reaffirm Utility as Price Drops 50%

At a Seoul meetup, co-founders Nicolas Kokkalis and Chengdiao Fan described Pi as a network that blends cryptocurrency, social engagement, and developer-driven applications. Fan highlighted that more than 60 million people now use Pi’s mobile app, 350,000 nodes stand ready for mainnet launch, and over 14 million pioneers have already passed KYC checks.

Rather than fixating on price, the pair emphasized new growth drivers. Among them is App Studio, a tool that lets even non-coders design apps inside the Pi ecosystem. Thousands of applications have been created in just a few months. Pi Ventures, a $100 million fund, has also been launched to support outside teams that can extend the platform’s reach.

Both founders urged patience. Kokkalis recalled Pi’s beginnings, when they struggled to sign up even a few dozen users in a shopping mall. That memory, he said, shows why the network’s real strength lies in long-term adoption, not speculative hype. Fan added that crypto often rewards quick profit-taking, but true value only emerges from products that solve real problems.

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The duo also addressed sensitive issues. They reminded attendees that only Pi traded on officially approved exchanges is legitimate, warning of scams tied to unauthorized tokens. On identity verification, Fan explained that Pi’s free KYC process remains crucial to ensuring genuine participation across its global user base.

Building infrastructure for tens of millions of users, they admitted, is a major technical hurdle. Still, the founders argued that Pi’s mix of blockchain, AI integration, and community-driven apps puts it in position to eventually compete with leading decentralized ecosystems.

Despite skepticism over unofficial listings and token volatility, the message from Seoul was one of persistence. “We insist on utility,” Fan concluded, “because real adoption comes from building tools that people actually need.”

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