The buzz around Pi Network just got louder thanks to a recent tweet from BSCN, highlighting co-founder Chengdiao Fan's keynote at TOKEN2049. If you're into crypto, especially projects aiming for real-world use, this is worth a dive. Pi Network, known for its mobile-friendly mining app, is pushing boundaries by blending blockchain with AI to make crypto more accessible and useful for everyone.

What Happened at TOKEN2049?

TOKEN2049 is one of the biggest crypto events out there, held annually in Singapore. This year, on October 1, 2025, it drew over 20,000 attendees, including big names from Ethereum and Binance. For Pi Network, it was their debut appearance, and Fan didn't hold back in her talk titled "Crypto's Future: From Liquidity to Utility - Web3 Pathways to Innovation."

Fan, a Stanford PhD graduate who co-founded Pi with Nicolas Kokkalis back in 2019, focused on how blockchain can tackle big societal shifts caused by AI. Think about it: as AI takes over more jobs, how do we fairly distribute wealth? Fan argued that blockchain could be the answer—a transparent, scalable system for sharing resources without relying on outdated labor metrics.

"If labor becomes irrelevant, what will be the metric that society uses to distribute our societal wealth?" Fan asked during her speech. It's a thought-provoking question that's got the crypto community talking.

Pi Network's Journey So Far

For those new to Pi, it's a layer-one blockchain designed for mobile users. Unlike energy-hungry proof-of-work systems like Bitcoin, Pi lets you "mine" coins right from your smartphone app with minimal power use. Since launching in 2019, it's exploded in popularity, boasting over 60 million engaged users and hundreds of millions of app downloads.

The project spent years in a closed testing phase before going live with its open mainnet in February 2025. Now, Pi coins (often called Picoin) are trading on exchanges. Out of 16 million mainnet users, a whopping 15 million have completed KYC—know your customer verification—which is crucial for secure, real-world applications.

This massive user base isn't just numbers; it's a ready-made community for testing new ideas. Fan highlighted how Pi's social network aspect helps developers get real feedback quickly, something that's gold in the fast-paced world of Web3.

Shifting from Speculation to Real Utility

Fan called out a common issue in crypto: too much focus on quick trades and value extraction, like in some DeFi projects, and not enough on creating actual value. She pushed for a move from "liquidity" (fancy term for easy buying and selling) to "utility" (building stuff that people really use).

Pi is leading this charge in two ways:

• Bringing real-world stuff on-chain: Tokenizing assets and using stablecoins for payments. Pi's built-in KYC for millions of users makes this smoother, solving ownership headaches. As Fan put it, "For real-world assets really moving on chain, the first problem that needs to be solved is ownership: who owns what, and who transfers what to another?"
• Creating new things entirely on-chain: This is where AI comes in. Pi's App Studio lets anyone—even non-techies—build and deploy apps easily. These can run AI-powered online businesses, ditching traditional jobs for something more decentralized.

Plus, Pi just rolled out DeFi tools on their testnet, including a decentralized exchange called PiEx, automated market makers (AMMs—which help set fair prices automatically), and liquidity pools (where users provide funds for trading and earn rewards). These are open for millions to test, helping boost financial smarts across the board.

AI's Role in the Future of Crypto

Fan sees AI as a game-changer for blockchain. With AI agents making interfaces simpler, even complex DeFi could become user-friendly. But she warned about distractions like memecoins pulling talent away from meaningful innovations. "Value creation is always harder than value extraction," she noted. "Value creation relies on product innovation that takes time and takes effort and takes perseverance."

Pi is inviting AI devs to build on their platform, using that huge user base to experiment and grow. It's all about catching the wave now, while AI tech is advancing but apps are still catching up.

Why This Matters for Crypto Enthusiasts

This keynote isn't just talk—it's a roadmap for Pi's future. With mainnet live and tools like App Studio and PiEx in play, Pi is positioning itself as a hub for equitable crypto participation. If you're mining Pi or just watching the space, keep an eye on how they integrate AI to make blockchain less about hype and more about helping people in an AI-driven world.

For the full keynote, check out the recording on YouTube. And if you're diving deeper into meme tokens and crypto trends, stick around on Meme Insider for more updates. Pi's viral growth and community focus have meme-like energy, but with serious tech backing it up. What's your take on Pi's direction?