Favourable Information for Pi coin: The first Pi Network hackathon has launched a 160,000 PI prize pool. Can ecological application development break through the practical bottleneck?

Pi Network launched its first hackathon on August 21, with a total prize pool of 160,000 PI Tokens (approximately $57,600), aimed at encouraging developers to build ecological applications that enhance the utility of Pi coin. Although mainstream Crypto Assets generally fell on that day, PI rose against the trend by 2.7% to $0.3602, but it still accumulated a fall of 24.53% for the month. The event will last until October 15, requiring projects to integrate core functionalities of Pi such as payment, identity verification, or community interaction.

contrary rise: PI coin rebounded 2.7% in 24 hours against the market downturn

According to CMC data, Pi Coin (PI) rose 2.7% on the day, breaking through $0.36, significantly outperforming the market (mainstream Crypto Assets generally fell over 5%) (latest data shows that PI fell 2.7% in the past 24 hours, currently at $0.3580). Nevertheless, the weekly PI is still down 9.23%, and the monthly decline is 24.53%, reflecting long-term market concerns about its ecological progress. Historical data shows that VC-backed Crypto Assets projects typically rise 5%-15% within 72 hours after major announcements, and PI's 2.7% increase this time did not meet expectations, possibly due to market skepticism about its level of decentralization.

Hackathon Details: 160,000 PI Prize Distribution and Participation Rules

Pi Network will allocate a total of 160,000 PI Tokens to the winning team:

• Champion: 75,000 PI (approximately $27,000)
• Runner-up: 45,000 PI (approximately $16,200)
• Third Place: 15,000 PI (approximately 5400 USD)
• 5 Honorary Awards: 5,000 PI each (approximately 1,800 USD)

The event adopts an open theme, with the only requirement being that the project must meet the standards for the launch of the Pi mainnet and be deeply integrated with Pi ecosystem functions (such as payment, identification, and community tools). Team registration starts on August 15, with the development period from August 21 to October 15, and a progress checkpoint set for September 19.

Development requirements: dual-stage submission and mandatory KYC verification

The participating teams need to complete two stages of submission:

1. Submit the final application list through the developer portal (must include English name, compliance logo, function description, preview image, and privacy policy)
2. Fill out the official Hackathon form and attach a 3-minute demo video (which should explain the application goals, functionality demonstration, target users, and Pi integration plan)

All team members must pass the KYC verification of Pi Network to receive bonuses, and each team can submit up to 2 applications. Although the initial integration of wallet functionality is not mandatory, projects that make it to the ecosystem list need to be further supplemented and improved.

Ecological Ambition: Breaking Through from Mobile Mining to Practical Scenarios

After the Pi Network opens its mainnet in February 2025, it will promote the construction of practical scenarios for the first time through a hackathon. Its guidelines emphasize "bringing real utility to the Pi community," allowing the use of any technical solution as long as it deeply integrates Pi coin payments, digital identification, or community participation mechanisms. Developers can use Pi App Studio and developer portal resources to build applications, and winning projects will receive community exposure and mentorship opportunities.

Market Challenge: The Paradox of Utility and Valuation Awaiting Resolution

Despite Pi Network claiming to have over 50 million users worldwide, Pi coin is currently only listed on a few crypto asset exchanges like Gate, resulting in a significant gap in liquidity compared to mainstream coins. Analysts point out that if hackathons can generate high-frequency use cases (such as cross-border payments and decentralized social applications), it may change the stereotype of "mining tokens"; however, if it remains limited to an internal ecological closed loop, it will be difficult to support long-term valuation.

Conclusion

The Pi Network hackathon is the first large-scale ecological construction attempt after the launch of its open mainnet, with a prize pool of 160,000 PI and low entry barriers aimed at attracting global developers. The short-term price rebound reflects the market's expectation for event-driven trends, but for Pi coin to truly break through the practical bottleneck, it needs to prove its ability to support high-frequency business scenarios rather than being limited to circulation within the community. Investors should pay close attention to the types of award-winning projects submitted in October and the subsequent progress of mainnet integration, as these will determine whether PI can transform from a "mobile mining concept" into a truly competitive Web3 ecological Token.