Pi Network’s next big step: what pioneers need to know about its new tokens

One of the project’s co-founders explained the team’s latest launch, which promises to take a “different approach.”

One of the latest was the integration of Pi ecosystem tokens on Mainnet, and co-founder Chengdiao Fan explained their idea and goal in a detailed video.

What are Pi ecosystem tokens?

She started by pointing out that these new assets are tokens created by the community itself and issued on Pi. They have already been released on the Testnet, while their launch on the Mainnet is ‘finalizing’. Fan acknowledged the importance of security and technology for the new tokens, but noted that their design will set them apart. She believes there is a significant disconnect between token design and true innovation.

“Tokens on most other crypto networks function primarily as tools to raise capital. But despite this approach, most projects often fail to deliver real utility and innovation. We see this as a structural problem.”

She explained that Pi Network is positioned differently and its ecosystem allows its users to integrate crypto tokens for products and innovations. It “strongly encourages” real utility, as the team believes this is the key driver of long-term stability and success for any blockchain project.

Utility tokens for user acquisitions

These assets, through the Pi launch programs, mean that “projects issue tokens to meet the need to acquire users for their products and integrate these tokens for utility-based use cases into their products.” Users will have full access to these new coins through the launch programs and can use them in the products.

Fan added that developing such user-friendly programs that allow them to operate within a startup ecosystem is typically a long and expensive process. However, they can significantly reduce costs by using Web3 tools from Pi Network, such as the Pi Ecosystem Tokens. At the same time, they can involve users in their projects.

It is worth noting that acquired users can hold the products accountable for their services. Therefore, Fan said that this would ensure that users get the most out of their money, because weak products will obviously disappear over time.

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“Pi ecosystem tokens are not about copying existing token models. In fact, we have purposefully tried to avoid the traditional approach. Because many of the problems in Web3 stem from the way tokens have traditionally been designed. And this design will also evolve as it is replicated in practice,” Fan concluded.