The Pi Network team has confirmed the successful distribution of SLICE, the second testnet token for the Pi Launchpad ecosystem. The announcement was made through Pi's official account on X (@PiCoreTeam), encouraging users — known as "Pioneers" — to explore new features now available within the Launchpad.

Pi Network, a mobile-first cryptocurrency project launched in 2019, has built a global user base of tens of millions of Pioneers who mine PI tokens via a smartphone app without traditional energy-intensive mining hardware. The Launchpad serves as the project's platform for testing token creation, distribution, and decentralized exchange mechanics within its testnet environment — a staging ground for features intended for eventual mainnet deployment.

The release follows a series of tests designed to introduce additional tools and familiarize users with the Launchpad interface ahead of future token launches.

SLICE Testnet Token Distribution Confirmed

The SLICE initiative builds on the first Launchpad test, which launched on PiDay 2026 (March 14). That initial test drew participation from nearly 480,000 Pioneers. According to the Pi Network development team, feedback collected during the experiment was instrumental in improving the Launchpad user experience.

To continue those improvements, Pi Network initiated the SLICE testnet token in June. The testing window opened on June 12 and concluded on June 28, coinciding with Pi2Day, an annual community milestone the project uses for major updates and celebrations. Although no updates were shared immediately after testing ended, developers have now officially confirmed that the token distribution process is complete.

Pioneers can check their individual SLICE token allocations through the Launchpad feature accessible within the Pi Browser.

Updated Launchpad Features for Pioneers

Following the distribution, Pi Network invited users to explore the platform's updated toolset. The Launchpad now enables users to view token distribution details, the launch token price, and the effective price.

Users also have access to the SLICE liquidity pool, which includes a new price tracking tool. This tool displays how SLICE's value fluctuates relative to test-Pi, another token operating on the Pi Network testnet. These tools are designed to help Pioneers practice interacting with liquidity pools and token pricing in a risk-free environment before such features are introduced on a live network.

PI Coin Sees Volatile Price Action

While testnet development has progressed, Pi Network's native PI coin has experienced notable price volatility. The token recently fell to an all-time low of approximately $0.07 after losing the $0.10 support level. It subsequently rebounded by more than 20% in a single day, briefly attempting to reclaim $0.10. The recovery was short-lived, however, as continued selling pressure pushed the token back down by over 10% to around $0.082.

PI coin currently trades on certain exchanges through IOU-based markets that allow price discovery ahead of full open mainnet transferability. The token's price movements come as the community continues to await Pi Network's transition from its enclosed mainnet phase to open mainnet, a milestone the team has stated depends on meeting specific technical, legal, and ecosystem-readiness conditions.

Community Reports Wallet Irregularities

Separately, some Pi Network users have taken to social media to report concerns about unusual activity involving their Pi Wallets. These reports cite unexplained token losses and multiple failed transactions linked to an unidentified wallet address. Pi Network has not yet issued an official statement addressing these complaints.

Despite these community concerns, the Pi Network development team continues advancing its testnet environment, with the SLICE distribution representing a further step in refining the Pi Launchpad platform.