Pi Network has rolled out a new token rulebook designed to curb speculation and force real utility before any new token can hit the market.
What changed
- On April 22, under the Protocol V22 upgrade, Pi Network published PiRC1 — a Token Design Framework that bars projects from issuing tokens unless they first prove a working application with measurable user demand inside the Pi ecosystem.
- The framework’s core intent: stop low-value, speculation-driven token launches and prioritize tokens that serve functional roles inside real apps.
How PiRC1 works
- No token issuance without a functioning app demonstrating genuine user traction.
- Token proceeds do not go straight to project teams. Instead, funds are routed into permanent liquidity pools anchored to Pi Coin, the network’s base currency. That structure is designed to prevent post-launch liquidity withdrawals (a common source of “rug pull” losses).
- Pi’s KYC-verified user base adds another layer of accountability by tying developer and user activity to real identities rather than anonymous addresses.
Related technical and governance moves
- PiRC1 shipped alongside a PiRC2 document that opens the subscription smart contract model to community and technical review.
- PiRC1 follows Protocol V21 and V21.2 upgrades, which hardened network infrastructure and prepared the chain for smart contracts.
- Protocol V22 also set an urgent operational deadline: Mainnet node operators must upgrade to Protocol 22 by April 27 to stay connected.
- The next major milestone is Protocol 23, expected in May 2026, which should add full smart contract capabilities for developers — a key enabler for the apps PiRC1 requires.
Community input and market context
- Pi co-founder Chengdiao Fan first proposed PiRC1 in late February. The framework underwent an open review period on GitHub and via Google Forms so developers could shape the final design.
- Market watchers note Pi’s 2026 price movements have tracked closely with technical milestones; previous roadmap updates have often been treated as sell-the-news events. PiRC1’s real test will be whether developers actually build working apps under the new rules and whether those apps attract measurable user engagement.
- Pi trading snapshot: approximately $0.1687 on April 23, with a $1.73 billion market cap and $11.17 million in 24-hour volume.
Why it matters
PiRC1 reframes token issuance as a utility-first process and separates fundraising from direct project control. If it succeeds, Pi Network could shift from a mining-centric community to a more structured Web3 ecosystem where tokens underpin real digital services — reducing speculative noise and raising the bar for projects seeking to launch within the network.
Pi Network says it will continue refining PiRC1 with developer feedback and is targeting Protocol 23’s smart contract support as the next major technical milestone.
Read more AI-generated news on: undefined/news
