Pi Network has released the initial version of its Pi Launchpad as a Pi App on Testnet, introducing a token launch mechanism based on its PiRC proposal framework.
The project said the Testnet rollout allows users, known as Pioneers, to familiarise themselves with how the launchpad works before the feature is deployed on the network’s Mainnet.
The Pi Core Team said the platform uses Design 1 from the PiRC framework, an open-source proposal system introduced during the project’s Open Network anniversary.
The launchpad aims to provide a different model for Web3 token launches compared with traditional crypto launchpad platforms.
Despite the product milestone, the market reaction has been subdued as the PI token continues to trade lower following the announcement.
The token was trading at about $0.201 at the time of reporting, down roughly 8.9% over the past seven days following the Testnet launch.
The release moves Pi Network closer to building a functioning token ecosystem, though it remains unclear whether the development will shift sentiment among PI holders in the near term.
At the time of reporting, Pi Network price was $0.2033.