What Drives the PI Army’s Passion? Insights from a Co-Founder of the Pi Network

Summary

• Nicolas Kokkalis, the co-founder of a well-known yet contentious initiative, addressed various themes at the 2025 Consensus conference in Toronto, covering blockchain adoption, decentralization, artificial intelligence, and the increasing engagement of the community surrounding PI.
• However, the native token appears to be experiencing another instance of “buy the rumors, sell the news” as it recently underwent a significant price drop.

Why Such Popularity?

Regardless of its controversial past, which features multiple delays in the launch of the network and token, Pi Network has evolved into one of the most discussed and sought-after projects in the cryptocurrency arena. It has been operational, in some capacity, for nearly five years.

During his recent talk at the 2025 Consensus conference in Toronto, Kokkalis addressed inquiries regarding the sources of this rising popularity and the community’s engagement around Pi and decentralization.

The co-founder, who leads technology efforts, suggested that the core reason behind this acclaim is the principle of value distribution.

“In a future where increased tasks are managed by agents and artificial intelligence, it is essential to ensure that value is shared among many rather than concentrated in the hands of a few. Blockchain and our platforms can facilitate that distribution.”

He mentioned that Pi Network’s appeal could keep growing if all initiatives within its ecosystem continue focusing on value distribution for a broader audience.

PI Experiences Significant Decline

Just over a week ago, the price of PI saw a sharp increase, soaring from $0.6 to $1.7 in a matter of days. This dramatic rise occurred after hints from the project team about a significant announcement planned for May 14.

When this announcement was finally made, revealing a $100 million fund for ecosystem investments, PI’s price began to plummet. Earlier today, it dipped below $0.7 following another significant daily decline. Consequently, it has nearly wiped out all gains from the hype-driven surge, marking yet another instance of a “sell the news” scenario.