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Pi Network launches PIRC1 token system, restricting speculative projects
CryptoWorld News reports that Pi Network launched the PIRC1 token issuance framework on April 22 as part of the protocol v22 upgrade. The framework requires projects to first present functional applications with real user demand before issuing tokens, aiming to filter out projects driven by speculation. The core principle of PIRC1 is that only applications demonstrating genuine use cases and user demand within the Pi ecosystem can participate in token issuance. The framework is intended to address the problem of low-value tokens flooding the crypto industry—tokens that are mainly used as speculative tools rather than functional components of a real digital economy. According to Crypto.News, the launch of PIRC1 came alongside new PIRC2 documentation, initiating technical review and community feedback on the subscription smart contract model. Pi Network stated that it plans to continue expanding the PIRC1 framework and that supporting protocol 23 smart contracts will be the next major technical delivery, expected to be launched in May 2026.