Driving the Fervor: Pi Network's Co-Founder Unveils the Source of Army's Enthusiasm
Cryptocurrency Chaos: Pi Network's Soaring Popularity and Swift Downturn
nicolas kokkalis, pi network's co-founder, spills the beans at consensus 2025
At the 2025 Consensus conference in Toronto, Nicolas Kokkalis, co-founder of the much-discussed Pi Network project, shared his insights on topics ranging from blockchain to AI to PI's growing popularity and vocal community.
Despite Pi Network's controversial past, marked by years of delays in network launch and token release[1], the project has managed to make its mark in the cryptocurrency realm. After nearly five years in existence, Pi Network has become a hot topic.
During the conference, Kokkalis was asked about this swelling interest, its origins, and whether the community is vocal around Pi or decentralization overall. The project's co-founder, who is also the head of technology, thinks the main cause behind this popularity is the concept of value capture[3].
"In a future where work is increasingly being handled by agents and AI, it's crucial to ensure the value generated doesn't just go to a handful of people or corporations," Kokkalis explained. "Our projects can help make sure the value is available to a larger audience."
He further stated that Pi Network's popularity would continue to soar if all projects within its ecosystem worked towards capturing value for a larger number of users.
PI takes a plunge
Pi Network's price took a nosedive just over a week ago, following a steep ascent to $1.7 from $0.6 after rumors of a major announcement on May 14[1]. Once the announcement was revealed—a $100 million fund dedicated to ecosystem investments—Pi Network started plummeting, falling below $0.7 after another double-digit decline[1]. As a result, the coin has nearly erased all gains made during the hype-fueled rally, yet another instance of 'sell the news'.
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The Pi Network's co-founder, Nicolas Kokkalis, at the Consensus 2025 conference attributed the project's growing popularity to the concept of value capture, emphasizing the importance of ensuring that the value generated is available to a larger audience rather than just a few individuals or corporations. However, Pi Network's price experienced a significant plunge just over a week after a steep ascent, erasing nearly all the gains made during the rally, indicative of a 'sell the news' phenomenon.
