At TOKEN2049 Singapore (Oct 1–2, 2025), Pi Network founder Dr. Chengdiao Fan delivered a keynote that set the tone for the project’s next chapter: a pivot from speculative hype toward real-world utility. Her speech, titled “Crypto’s Future: From Liquidity to Utility – Web3 Pathways to Innovation,” challenged the blockchain industry to build tools that actually solve problems for people, not just chase token price action.
The Core Message: From Liquidity to Utility
Dr. Fan emphasised that while liquidity has fueled crypto’s growth, it is not enough for long-term success. For Pi, with its 60M+ global pioneers, the true opportunity lies in building applications people use daily. She positioned Pi as a network ready to demonstrate that crypto can embed itself into commerce, community, and culture.
Three Pillars for Web3 Adoption
Dr. Fan outlined three critical enablers:
- Mass Adoption – Scaling beyond the crypto‑savvy early adopters.
- Identity & Trust – Strong KYC and verification systems that preserve decentralisation while protecting users.
- Decentralised Production (with AI synergy) – Allowing users, developers, and AI to collaborate in building a fair, scalable economy.
Her framework sets the stage for Pi to become a human-centered blockchain ecosystem.
Pi’s Strategy in Action
Dr. Fan pointed to several recent developments that back her vision:
- DEX, AMM & Token Creation (on Testnet): Pi launched decentralised exchange tools and liquidity pools on its Testnet, giving developers a safe sandbox to experiment with DeFi.
- Node Upgrades: Technical improvements (such as Pi Node v0.5.4) are strengthening decentralisation and scalability.
- .pi Domain Auction: A successful domain auction with over 200,000 bids shows demand for Pi’s identity layer.
- Ecosystem Tools: Pi App Studio and APIs are enabling developers to build without reinventing the wheel.
- Fiat On‑Ramps: Partnerships like Onramp Money are bridging Pi with local payment systems worldwide.
How Pi Will Bring DeFi to the Network
Dr. Fan’s keynote signaled that DeFi on Pi will be measured, utility-driven, and trust-focused. Key components include:
- DEX & Liquidity Pools: Community-powered trading that prioritises stability and security.
- Token Issuance: Projects can launch tokens with safeguards against speculation-only models.
- Identity-Verified DeFi: KYC layers reduce fraud and scams, building confidence for everyday users.
- Developer Incentives: Grants and Pi Ventures’ $100M ecosystem fund will attract serious builders.
- Fiat Integration: On‑ramps and merchant adoption make Pi usable in real-world commerce.
What’s Next?
To see this vision unfold, watch for:
- Mainnet launch of DeFi modules
- Governance proposals & tokenomics clarity
- Developer adoption & app growth
- Cross-chain and interoperability solutions
- Security audits & regulatory compliance
Dr. Fan’s talk at TOKEN2049 positions Pi Network as more than a “mobile mining experiment.” By embedding identity, decentralisation, and usability into its DeFi strategy, Pi could redefine what mainstream blockchain adoption looks like.
If Pi succeeds, it may finally bridge the gap between crypto’s promise of financial freedom and the reality of everyday utility.
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Firstly, for those who don’t know me, I’m Scott, the driving force behind DeFi Life, where we’re revolutionising how Australians approach decentralized finance (DeFi) and the Education around it.
