Pi Network has launched several major technical upgrades in recent months, culminating in the March migration to protocol v20.2 to enable smart contracts. The first smart contract capability is now live on Testnet, and a new PiRC-2 proposal for subscription contracts is open for community review. The team is preparing for a mandatory protocol 22 upgrade by April 27, with co-founders scheduled to speak at Consensus 2026 in early May. Despite these developments, the PI token trades around $0.17, down 95% from its all-time high over a year ago.
The controversial crypto project Pi Network has launched numerous features aimed at improving its ecosystem. The next few weeks are expected to be eventful as the team prepares for another major upgrade and its participation in Consensus 2026.
The migration to protocol v20.2 around Pi Day in March was considered a major milestone for enabling smart contracts. It allows developers to build decentralized applications and automate processes on the blockchain.
Earlier in April, the Core Team disclosed the first smart contract capability is live directly on the project’s Testnet. According to them, this would foster “real, recurring, utility-driven use cases.”
Pi Network recently unveiled PiRC-2, opening the Testnet for subscription smart contracts to technical scrutiny and community input. This announcement left Pioneers divided, with some welcoming the initiative while others argued more pressing issues like KYC verification should be addressed first.
Next on the list is the mandatory protocol 22 upgrade, with a deadline of April 27. One community member claimed this update “ensures network stability & paves the way for full smart contract functionality, supporting our 18M+ Pioneers.”
Besides these updates, Pi Network will participate as a partner in the major crypto conference Consensus 2026 in Miami. The event takes place at the beginning of May.
Co-founder Chengdiao Fan will take the main stage on May 6 to discuss topics like AI-era business models and a globally engaged network. The other co-founder, Nicolas Kokkalis, is scheduled to speak on a panel the following day titled “How to Prove You’re Human in an AI World (Without Doxing Yourself).”
The native token PI has failed to gain momentum following the latest announcements. As of this writing, it trades at roughly $0.17, a 10% monthly decline and a 95% crash from its all-time high of $3 observed over a year ago.
