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 Fulfills Promise: KYC Validators Receive 52.62 Pi Actual Returns Per Person
Pi Network recently distributed rewards to KYC verifiers, with each receiving 52.62 Pi, marking the first time verification work has been linked to token rewards. This mechanism not only recognizes the contributions of verifiers but also ensures practical use cases for Pi, such as DApps consumption and transactions, enhancing community engagement and building long-term trust. This signals sustainable development of the token economic model, with potential expansion to more application scenarios in the future.
MarketWhisper2h ago
Pi Network Proposal PiRC-101 Sparks Debate
The Pi Network community is currently discussing the PiRC-101 proposal, which introduces a new economic framework concept. PiRC proposals are typically submitted through developer channels as part of the network’s governance process, aiming to introduce features, economic models, or technical
Coinfomania19h ago
Pi Network Celebrates Pi Day 2026 With Launchpad, Second Migrations, and KYC Rewards
Pi Day 2026 just dropped, and the Pi Network team delivered a stack of updates that move the project closer to its vision of a utility-driven ecosystem. From protocol upgrades to new developer tools and long-awaited validator rewards, the seventh anniversary marks real progress.
The official a
CaptainAltcoin20h ago
