Pi Network officially deploys the v23 protocol upgrade within its ecosystem, which is regarded as a significant technical milestone toward practical application. The core highlight of this update is the introduction of support for Rust smart contracts for the first time, laying the foundation for subsequent decentralized applications and DEX implementations.
According to official and community information, the current active user base on Pi Network’s mainnet is approximately 15.8 million. The v23 protocol does not open all new features at once but focuses on the stability of the underlying architecture, security, and the improvement of developer tools. This gradual upgrade approach demonstrates the team’s preference for a long-term sustainable development strategy rather than short-term feature stacking.
Under the v23 protocol, developers can now write smart contracts using the Rust language. Due to its high performance and memory safety features, Rust has been widely adopted on mainstream blockchain platforms. For Pi Network, this means its technical capabilities are beginning to align with general-purpose smart contract public chains, enabling developers to build more complex on-chain applications, including payment tools, on-chain services, and early DeFi scenarios. The official emphasizes that smart contract functionality will be rolled out in phases to reduce security risks and avoid potential vulnerabilities.
More market attention is focused on the fact that the v23 protocol is explicitly seen as a preparatory step for the launch of Pi Network DEX in Q1 2026. Community updates indicate that future Pi DEX is expected to support token trading and liquidity pools, but the current version mainly focuses on backend systems and protocol layer testing. The development team states that subsequent protocol versions (such as v25) will further expand DEX-related capabilities, while v23 serves as the foundational layer for the entire decentralized trading system.
In addition to the smart contract and DEX plans, other updates within the Pi Network ecosystem are also progressing simultaneously, including AI-based KYC process optimization, application studio feature upgrades, and future token creation tools. Meanwhile, the mining rate in January has been adjusted downward according to the established formula, maintaining a link with network activity. The community is also paying attention to upcoming key milestones, such as the one-year anniversary of the network launch and Pi Day.
Overall, the v23 protocol is not a “blockbuster feature explosion update,” but rather an infrastructure and engineering-focused upgrade. If subsequent progress goes smoothly, this version could profoundly influence Pi Network’s application ecosystem, smart contract usage, and the development path of decentralized exchanges by 2026.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Pi Coin ends 7 months of "silence": Price ready for major fluctuations
Pi Network (PI) is currently trading around $0.1883, maintaining an accumulation near the 23.6% Fibonacci retracement level after failing to sustain an upward momentum above $0.29.
Two technical signals converging indicate that the “quiet” phase has ended — but in a bearish direction for the bulls.
TapChiBitcoin12m ago
Pi coin's 7-month low-volatility period has ended; an 108% rebound in volatility signals a major market move.
Pi Network (PI) is currently trading at approximately $0.1883, facing increased volatility and a decreasing correlation with Bitcoin. Recently, volatility has risen from 52% to 108%, indicating the end of the past seven months of compression and the potential for a significant move. However, the correlation coefficient between PI and Bitcoin has dropped to -0.30, suggesting that PI has not benefited from Bitcoin's upward trend. Technical analysis shows that if the price falls below $0.1894, it could drop to $0.1300, while holding above $0.2103 may lead to a rebound toward $0.2442.
MarketWhisper1h ago
Pi Network Price Drop Alert: Token Unlock and Profit-Taking Trigger Selling Concerns
Pi Network's price fell approximately 37% this week, failing to break through the key resistance level of $0.20. Supply-side pressure has increased, including large-scale token unlocks and rising exchange reserves, while weak demand is reflected in declining trading volume. In the short term, technical indicators lean bearish, with $0.17 as the key support level for bulls; a break below could lead to further downside toward $0.15. Overall market sentiment is influenced by geopolitical factors, and any rebound will require volume support.
MarketWhisper3h ago
Pi Network Rolls Out Second Mainnet Migration Phase
The latest update from Pi Network introduces a second migration phase for its users, commonly known as Pioneers. This phase allows eligible participants to move additional Pi tokens into the mainnet environment, building on earlier migration efforts that primarily focused on initial token
Coinfomania21h ago
Coixa Applies for Pi Network KYB Certification, Expanding Ecosystem Compliance Services
Coixa Wallet has submitted a KYB authentication application to Pi Network. If approved, it will be able to provide compliant DeFi services within the Pi ecosystem. KYB authentication is an important verification mechanism for compliant platforms and helps enhance user trust. Currently, rumors have circulated regarding the transfer of billions of Pi tokens on Pi Network. Developers have clarified that this was an internal testing activity and there is no need for concern.
MarketWhisper03-25 05:21
Pi Network Second Migration Opens, Analysts: Early Miners' Holdings Valued at $63,000
Pi Network launched its second token migration, enabling users to transfer more Pi coins from the testnet to the mainnet. Participation requires completing 2FA authentication and KYC verification. Analysts predict the potential value of 21,000 Pi held by early miners under different price scenarios, ranging from $4,200 to $63,000. This move faces real market tests.
MarketWhisper03-25 02:13
