Pi Network Founders Reaffirm Mission as Pi Coin Price Drops Sharply in September

Even as Pi Coin lost more than 50% of its value in late September, Pi Network’s co-founders used a community gathering in Seoul to emphasize their long-term vision and ongoing ecosystem development.

Reinforcing Pi’s Broader Identity

Founders Nicolas Kokkalis (NK) and Chengdiao Fan (Cfan) told Korean pioneers that Pi should be viewed as more than just a cryptocurrency. Fan described Pi as a multi-dimensional ecosystem a developer platform, a social network, and a utility-focused network backed by 60 million active users, 350,000 testnet nodes, and more than 14 million verified members through its KYC system.

“Pi is not only crypto; it’s a community, a platform, and an ecosystem built around utility,” Fan explained, underscoring the team’s priority on long-term adoption rather than short-term speculation.

Ecosystem Growth: App Studio & Pi Ventures

A highlight of the event was the unveiling of App Studio, an AI-driven tool enabling non-technical users to design and launch applications on Pi. Thousands of apps have already been built in its first three months, marking it as a potential growth engine.

Alongside this grassroots creativity, the founders introduced Pi Ventures, a $100 million investment fund aimed at supporting disruptive teams aligned with Pi’s mission of building real-world use cases.

Looking Past Market Volatility

Addressing concerns over Pi Coin’s price slump and rumors about unofficial exchange listings, Kokkalis urged patience:

“We began over seven years ago with just a vision and a handful of early adopters. Today, the community is in the tens of millions. Real value takes time to build.”

Fan added that the crypto industry often prioritizes value extraction over creation, but Pi is committed to reversing that trend: “Long-termism must guide us. Building true utility is harder but more meaningful.”

Tackling Core Challenges

The founders also spoke about:

• KYC Progress: Stressing that only coins listed on officially approved exchanges should be trusted, and highlighting Pi’s free, large-scale KYC system as vital for compliance and global inclusivity.
• Infrastructure Scaling: Acknowledging the technical hurdles of supporting tens of millions of daily users, far beyond the capacity of typical blockchains.
• Trust & Security: Warning against scams and fake tokens targeting the Pi community.

Despite skepticism fueled by volatility, Kokkalis and Fan painted Pi as a project built for mass adoption, merging blockchain with AI to deliver practical services.

“We insist on utility,” Fan concluded. “True adoption only happens when blockchain creates products that genuinely meet human needs.”