Pi Network has started introducing Protocol v23 in its ecosystem. The update shows a major technical step for the network. It introduces support for Rust based smart contracts. This change allows developers to build more advanced apps directly on Pi Network.
The update comes as the network reports about 15.8 million users active on Mainnet. According to community updates, Protocol v23 focuses on core infrastructure. It put the groundwork for future features. Rather than launching everything at once. Currently the upgrade targets stability, security and developer tools.
Rust Smart Contracts Open New Use Cases
With Protocol v23 Pi Network now supports smart contracts written in Rust. Rust is widely used in blockchain development. Due to its speed and safety features. This move brings Pi closer to other major smart contract platforms. As a result, developers can design more complex applications. These include payment tools, on-chain services and early DeFi products. The team claims they need this step before they open the network to wider app usage. While they have now enabled smart contracts, they will introduce most features in stages. This approach focuses on reducing bugs and limiting network risks.
Q1 2026 DEX Plans Take Shape
Protocol v23 also prepares the network for a decentralized exchange. Which is planned for the first quarter of 2026. Community posts link this update directly to the upcoming Pi DEX. The exchange is expected to support token trading and liquidity pools. But the DEX is not live yet. Developers say the current upgrade focuses on backend readiness. The network must first complete testing and system updates. Later versions, including Protocol 25, are expected to expand these features. For now, the team frames Protocol v23 as a base layer for what comes next.
Broader Ecosystem Changes Continue
Aside from smart contracts and the DEX, several other updates are in progress. These include faster AI based KYC processing, app studio improvements and future token creation tools. The mining rate has also adjusted downward in January. This follows Pi Network’s monthly formula tied to network activity. At the same time, community members point to upcoming milestones. These include the one-year Open Network anniversary in February and Pi Day in March
Still many features remain under development. The team has not shared launch dates for most tools. With Protocol v23, make a shift toward a more functional network. Instead of hype driven updates the focus appears to be on building slowly. If successful, this upgrade could shape how Pi Network applications and its DEX operate later in 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 Network Launches First Smart Contract Feature on Testnet, Enabling Subscription Payments
Pi Network has launched its first Smart Contract feature on Testnet, enabling users to set up automatic subscription payments while maintaining control of their funds. This marks a shift toward ecosystem utility and lays the groundwork for potential mainnet deployment.
GateNews04-18 05:31
Pi Network Requires Mainnet Upgrade to v22.1 by April 27 or Risk Disconnection
Pi Network announced a mandatory upgrade to Protocol version 22.1, requiring completion by April 27, 2026, to maintain network connection. The upgrade is seen positively for enhancing security and performance, with next version expected by May 11, 2026.
GateNews04-17 06:05
Pi Network V23 Upgrade to Launch Smart Contracts, DApp Ecosystem, and DEX Next Month
Pi Network will launch its V23 upgrade next month, featuring smart contracts, a DApp ecosystem, and a decentralized exchange. With over 18 million KYC-verified users, this upgrade moves Pi towards practical applications and utility in its ecosystem.
GateNews04-16 05:41
Pi Network Agreement 23 Targets the Institutional Market, Smart Contracts, and RWA Tokenization to Launch in Early May
Pi Network officially went live with Protocol 23 on May 18, bringing smart contracts, real-world asset tokenization, and the AI App Studio, enabling Pi to transform from a payment token into a programmable blockchain infrastructure. The protocol covers four major functions, similar to Ethereum, and is expected to attract institutional investors. The upgraded node milestones signal market confidence and may affect Pi’s price performance.
MarketWhisper04-15 03:02
Pi Network 18 million users complete KYC, and 26.5 million PI are issued to verifiers
Pi Network distributes 26.5 million PI tokens to more than 1 million community members who have completed KYC verification, to accelerate user identity verification and strengthen the decentralized model. 18 million already-verified users have laid the groundwork for the ecosystem’s development, but the key lies in how to convert these users into active participants. With the protocol upgrade, Pi Network is moving toward the open network phase, and smart contract support signals richer application scenarios.
MarketWhisper04-14 05:07
Pi Network price hits a new 7-week low as a wave of 60 million token unlocks comes in
Pi Network's native token PI fell to $0.165 in April, hitting a 7-week low and leaving market sentiment weak. The unlock peak will release more than 60 million PI, adding downward pressure. Despite the core team recently publishing technical updates, it failed to improve market confidence and instead drew community criticism due to KYC access issues and the ongoing slide in price. Increased future supply could further drive prices lower.
MarketWhisper04-14 02:50
