Chengdiao Fan, co-founder of Pi Network, announced a new ecosystem model at Consensus 2026 in Miami, aiming to shift away from speculative crypto practices. Fan criticized the industry's focus on capital raising without delivering utility, emphasizing Pi Network's commitment to aligning crypto tools with real businesses and long-term user engagement. A key feature of this model is the Pi Launchpad, which requires projects to have a working product before launching tokens. Funds from users will be deposited into liquidity pools rather than directly to project teams, addressing the "quick exit" culture. Fan highlighted Pi's extensive user base, with over 60 million engaged users and 18 million KYC-verified users, as a foundation for utility creation and AI infrastructure development. Fan's presentation coincides with a surge in Pi trading volume, up 20% ahead of a network upgrade on May 15, which may introduce smart contract functionality. Pi's price recently increased from $0.169 to $0.1728, with potential for further gains if momentum continues.