Pi has been iterating on the design of the ecosystem tokens on Mainnet, which was launched on the first anniversary of the Open Network. Given the importance of the Pi ecosystem token layer and that the Pi Launchpad is the primary means to obtain high-quality ecosystem tokens on Mainnet aligned with the Pi vision, a Pi Request for Comment (PiRC) was published to solicit feedback from the community.

Now, the initial version of the Pi Launchpad that implements the Design 1 mechanism in the PiRC has been launched as a Pi app on the Testnet with a test token. Since the Launchpad introduces new concepts for many pioneers and uses mechanisms that differ from typical Web3 token launches, it is being introduced first on the Testnet so the community can familiarize themselves with how the process works before the Mainnet release. This is also an educational process for pioneers to learn the new launchpad construction and many DeFi processes in action, in case they haven’t read the PiRC on GitHub. The data and feedback collected during this period will help refine and improve the product before the Mainnet version is introduced. The Pi Launchpad app can be accessed through Pi Browser.

As introduced during the Open Network anniversary, ecosystem tokens launched by Pi Launchpad are designed for user acquisition and product utility rather than mainly for raising capital. In this model, projects issue tokens as tools to acquire users for their applications and integrate these tokens directly into product functionality—such as enabling access, payments, rewards, governance, etc.—within the app. Pi proceeds from the launch of their tokens, rather than being withdrawn by the issuing project, will go into a liquidity pool with the ecosystem token, which initializes a healthy liquidity base from the start.

For projects, ecosystem tokens become a mechanism to attract real users, collect feedback, and validate and iterate their products. Traditionally, without the Web3 tool of a token, user acquisition is often expensive, and the cold-start problem is especially difficult for startups. The Pi ecosystem offers this tool and support for companies seeking to expose their innovative products to a large global user base that includes native cryptocurrency users and traditional audiences—many of whom have verified identities—while also inviting users to participate in their iteration and product evolution journey. By integrating tokens with real product experiences, projects not only create utility for their own token but can also involve users early in their development process, testing product attributes and functions and validating that their products meet real human needs, helping their products grow more effectively.

From a Pioneer’s perspective, the launch platform provides transparent, meritocratic access to these tokens. Pioneers can choose to participate in different projects, access their tokens through launch mechanisms, and then use these tokens within the products themselves. This creates a feedback loop in which users interact with the product, assess its usefulness, and hold projects accountable for providing useful services. Unlike Web2 products, users don’t just use products provided by a company; they also maintain and use tokens issued by the company from the start.

It is expected that projects launched by Pi Launchpad prioritize the product. In other words, the project should already have a functional application so that the token has immediate utility upon launch.

The Launchpad mechanism also supports progress of decentralized exchange (DEX) activity within the Pi ecosystem. Although Pi DEX currently exists on Testnet, a healthy trading environment depends on the availability of legitimate tokens with substantial utility and liquidity. By allowing product-prioritizing projects to launch ecosystem tokens and direct Pi proceeds into liquidity pools with those tokens, Pi Launchpad helps create a token pipeline with these characteristics to be available on Pi DEX, which aims to help meet liquidity needs. This structure can help avoid early exploitation of DEX and AMM on Mainnet, where each could be flooded with speculative, meaningless tokens that do not provide significant utility. This approach enables the creation of ecosystem tokens that align with the utility focus of the Pi ecosystem and helps achieve the goal of providing a safe platform for Pioneers’ participation, while also supporting more robust commercial activities.

To get full details about the original design thinking behind ecosystem tokens on Mainnet, read the Open Network anniversary blog, watch the video from Pi founder Chengdiao Fan, and read and provide feedback on the detailed design proposal on GitHub.

Now, with the release of the Pi Day product, you can try the first version of the Pi Launchpad and learn how it works in action, as well as read and watch materials about the product. Note that the Launchpad product may iterate and change rapidly during the testing phase—for example, timelines for different stages of a launch, availability of different steps, information available, or calculations. Things may not remain the same between your visits—changes in that cadence or inconsistencies will not occur in the Mainnet version. The rapid iterations and changes in the Testnet version are intended as part of product testing to inform the design and reach an optimized version on Mainnet.

Note that the overall design of the ecosystem tokens and the Pi Launchpad product is subject to change based on community feedback on the design, data collected during the Testnet period, and feedback from the projects that plan to issue such a utility token.