酒成杨洋

1. Fan Chengdiao | May 6th 23:15-23:35
Topic: Blockchain Infrastructure, Decentralized Identity, and AI Integrated Application Deployments
2. Nicholas | May 7th 22:15-22:45
Topic: Anonymized Real-World Verification in the AI Era, Protecting Personal Privacy
Conference: Consensus 2026 Global Blockchain Summit
Location: Miami, USA
Pi Identity: Gold Level Official Sponsor
Key Insights: Latest Project Developments, Compliance Updates, Ecosystem Planning, Upgrades in Real-World Verification Tech

Pi Network has launched the PiRC1 token framework, prohibiting the issuance of tokens for projects without real applications. On April 22, Pi Network introduced the token design framework PiRC1 as part of the Protocol V22 upgrade. The core rule of PiRC1 is that only projects with functioning applications in the Pi ecosystem that meet genuine user needs are eligible to issue tokens. The token revenue does not flow to the project team but instead goes into a permanent liquidity pool anchored by Pi Coin, preventing any rug pull behavior. The two main rules of PiRC1 are: first, there must be an application; second, funds do not go to the project team. The PiRC1 framework is designed to address two fundamental issues in the crypto industry: first, applications must exist before tokens can be issued; any project must have a functioning application and real user demand before issuing tokens in the Pi ecosystem, aiming to exclude speculative shell tokens. Second, token revenue flows into a permanent liquidity pool; the proceeds from token issuance do not directly enter the project team's control accounts but flow into a permanent liquidity pool anchored by Pi Coin, structurally preventing developers from extracting liquidity after the project launches through rug pulls. The KYC-certified user network of Pi provides an additional layer of accountability — both developers and users operate under verified real identities. PiRC1 was released alongside the PiRC2 document, which defines a subscription smart contract model and is currently open for technical review and community feedback. Regarding the connection to the protocol roadmap: the deadline is April 27 for the smart contract launch in May. PiRC1 is part of the Protocol V22 upgrade, inheriting infrastructure enhancements from V21 and V21.2. Node operators have an urgent deadline: they must complete the Protocol V22 node upgrade by April 27, or risk being disconnected from the mainnet. The next major milestone is Protocol V23, expected to roll out in May 2026, which will introduce full smart contract capabilities for developers. The PiRC1 token framework combined with the V23 smart contract tools represents a structural shift for Pi Network from a mining-centric model to a Web3 ecosystem that supports real commercial applications. Market impact: Can PiRC1 change Pi's 'sell the news' pattern? Pi co-founder Fan Chengdiao first proposed the PiRC1 framework in late February, emphasizing that tokens should serve as tools within applications rather than standalone financial instruments, and after public reviews on GitHub and Google Forms, it was officially released. However, the market's reaction to Pi tokens has consistently shown a 'sell the news' pattern — each roadmap release could become a short-term sell signal. Whether PiRC1 can change this scenario will depend on how many developers build genuinely functioning applications based on this framework, and whether user engagement with these applications can quickly reach measurable levels. Common Questions: How does PiRC1 specifically prevent tokens from being used for speculation? PiRC1 requires projects to have a functioning application and real user demand before issuing tokens, fundamentally blocking the 'issue tokens first, consider use later' model. At the same time, token revenue flows into a permanent liquidity pool rather than directly under the control of the project team, preventing abandonment of the project once funding is secured. What is a 'permanent liquidity pool,' and how does it protect the Pi ecosystem? A permanent liquidity pool is a token issuance mechanism where the proceeds from token sales are injected into a liquidity pool anchored by Pi Coin, rather than entering an account that can be arbitrarily withdrawn by the project team. This structurally prevents rug pulls, where developers suddenly withdraw all funds after a project launch. When will Protocol V23 be launched, and what impact will it have on the Pi ecosystem? Protocol V23 is expected to launch in May 2026, introducing full smart contract capabilities for developers. Combined with PiRC1's token framework, the smart contract support of V23 will equip the Pi ecosystem with the technical foundation to support decentralized applications, marking a key technological transition for Pi from a mining network to a Web3 ecosystem.