Community Trust ScoreVerified
Pi Network’s Core Team just widened access to its Launchpad testing phase, letting every Pioneer take part in SLICE token trials. The move comes at a rough moment for the project — PI, the non-testing asset, is hovering near $0.13 and hasn’t recovered from a brutal multi-month selloff.
The updated participation model is pretty straightforward. Pioneers go into the Pi Browser, pull up the Pi Launchpad, look over the SLICE token details, decide how much Test-Pi they want to commit, and then interact with the Slice of Pi App to lock in their spot. Once a user inputs that commitment amount, the Launchpad runs a calculation and spits out what the team calls a “fair-access hold.” The idea is to make the whole thing transparent — you see exactly how your commitment ties to what you might receive. No guessing, no murky math. The team said the first round of testing with an earlier token gave them enough feedback to rework the flow, and SLICE is basically the next iteration built on those lessons. Testing runs until June 28, a date the Pi community calls Pi2Day.
Not a small window. But the clock is ticking.
PI Token Hits New Lows Amid Market Pressure
While the Launchpad work moves forward, the PI token itself is in rough shape. It dropped below $0.12 on June 6 — a new all-time low — and that’s a 96% collapse from its February 2025 peak. Ninety-six percent. That’s not a dip, that’s a wipeout. The token clawed back briefly to around $0.14 before sliding again. Right now it’s sitting near $0.13, down more than 3% in the past 24 hours.
Part of the recent pressure came from a broader market pullback. An FOMC meeting rattled risk assets, dragged Bitcoin under $64,000, and altcoins caught the spillover hard. PI was no exception. It’s still outside the top 50 cryptocurrencies by market cap, which sits at roughly $1.420 billion. That’s not nothing, but for a project with Pi Network’s user base ambitions, staying outside the top 50 probably stings.
The market cap number is kind of interesting on its own. At $1.42 billion, the project isn’t tiny — but the token price tells a different story than the headline figure. When you’ve shed 96% from your high, the cap figure is almost a reminder of what was, not what is.
What the SLICE Phase Is Actually Trying to Do
The team’s focus with SLICE seems to be usability and fairness more than hype. By stripping the process down to a single key input — the commitment amount — and having the system calculate everything else from there, they’re trying to cut confusion. Crypto launchpads have a long history of frustrating regular users with complicated mechanics, whitelists, and lottery systems that feel rigged toward bigger wallets. Pi’s “fair-access hold” framing is a direct shot at that problem, at least in theory.
Whether it works in practice is what the testing phase is for. The data collected before June 28 will shape what comes next for the Launchpad. No details yet on what a post-testing rollout looks like or when it might happen.
Unclear, honestly, how much the broader token price affects Pioneer participation in the testing phase. Test-Pi isn’t the same as real PI, so the 96% drop doesn’t directly hit the mechanics of the trial. But sentiment matters. When an asset has fallen that far, it’s hard to keep the community energized, even for a free testing exercise.
And that’s probably the real tension Pi Network is sitting with right now. The Launchpad work is real, the SLICE testing is live, the process has been simplified — but none of that automatically fixes a token that’s down 96% from its high and trading at $0.13 with a 3% daily loss on top of it.
Broader crypto market conditions aren’t helping. Bitcoin under $64,000 tends to weigh on smaller altcoins disproportionately, and PI is no exception. The FOMC-driven volatility that hit in early June hasn’t fully unwound.
PI’s market cap stands at $1.420 billion.
Frequently Asked Questions
What is SLICE in the Pi Network Launchpad?
SLICE is a test token used in Pi Network’s Launchpad testing phase, open to all Pioneers through the Pi Browser, with the testing period running until June 28.
How far has the PI token fallen from its all-time high?
PI dropped 96% from its February 2025 peak, recently hitting a new low below $0.12 and currently trading near $0.13 with a market cap of $1.420 billion.
