At Consensus 2026 in Miami, Pi Network co-founder Cheng Daofang announced a new launchpad mechanism aimed at aligning token issuance with real user adoption. The Pi Launchpad requires projects to deliver functional applications before token issuance, reducing rapid launches and quick exits. Cheng emphasized that projects must have a working product at the fundraising stage, with active users potentially receiving favorable terms during token launches. Cheng also disclosed key user metrics, highlighting over 60 million active users and 16.5 million active wallets on the mainnet. The network's KYC system, used for AI-assisted verification, has completed over 526 million human verification tasks. As Pi Network prepares for its mainnet upgrade on May 15, trading volume surged by over 20%, with prices rising from $0.169 to $0.1728, driven by market interest in potential smart contract functionality.