Pi Network will undergo a major protocol upgrade in Q4 2025. Experts predict that after the integration of Mainnet protocol v23 with Stellar Core v23.0.1, scalability, transaction speed, and Decentralized Finance functionalities will be significantly enhanced. Currently, the Testnet testing is ongoing, and the Mainnet deployment is expected to be completed by the end of 2025 or early 2026.
Despite the price of PI coin dropping to $0.2368, analysts believe that the upgrade could stabilize the coin price by enhancing blockchain utility, but liquidity challenges and the unlocking of 110 million tokens remain key tests.
Pi Network Mainnet Upgrade Progress: Protocol v23 Testnet Analysis
(Source: Pi Blockexplorer)
In the past month, Pi Network has been extensively testing protocol v23 on its Testnet. According to Pi community expert Dr. Altcoin, after the current testing phase is completed, the upgrade will move to Testnet 2.
The final step is to launch the upgrade on the Mainnet, which is expected to be completed in the fourth quarter of 2025 or early 2026. This upgrade is seen as a key milestone for Pi Network in its transition from an experimental project to a mature blockchain platform.
Integration of Stellar Core v23.0.1 technical breakthroughs
This protocol upgrade integrates Stellar Core v23.0.1, aimed at enhancing scalability and transaction efficiency. This integration will enable the blockchain to handle larger transaction volumes while maintaining speed and reducing costs. Stellar Core is known for its high performance and low-cost transactions, and this integration means that Pi Network will be able to leverage the technical advantages accumulated by Stellar over the years in the fields of cross-border payments and financial infrastructure.
In addition, this upgrade will enhance smart contract capabilities, providing better support for developers to build decentralized applications. The improvements to smart contracts will enable Pi Network to support more complex DeFi application scenarios, including decentralized exchanges (DEX), automated market makers (AMM), and on-chain KYC solutions, all of which are expected to play a core role in the ecosystem transformation.
Rust SDK Development Tools: Lowering the Entry Barrier for Developers
In addition to the protocol v23, Pi Network is also developing its Rust Software Development Kit (SDK). This tool will help developers more easily build, test, and deploy smart contracts.
The SDK is based on Stellar's Soroban Rust SDK, allowing developers to create applications using libraries, tools, and a Command Line Interface (CLI). This standardized development environment will significantly lower the technical barriers, enabling more developers to quickly get started.
Vision for Building a Decentralized Ecosystem
The Pi Core team is committed to reducing reliance on centralized platforms, thereby establishing a more decentralized ecosystem. This strategy not only aligns with the core values of Web3 but also enhances the entire network's resistance to censorship and resilience. By improving tools for Decentralized Finance, Pi Network plans to promote greater participation from users and developers, forming a self-reinforcing positive cycle.
This move aims to encourage more developers to participate in the Pi ecosystem and build innovative solutions on the platform. From payment applications to DeFi protocols, from NFT marketplaces to decentralized social platforms, the launch of the Rust SDK will open up broader application scenarios for the Pi Network. If the ecosystem can successfully attract quality projects, it will directly enhance the actual usage demand and token value of the network.
PI Coin Price Analysis: Oversold Signal at $0.23 and Recovery Opportunity
In the past few months, the price of Pi Coin has fluctuated wildly, with the current trading price at 0.2368 USD. The coin has been in a downward trend, and the trading volume has dropped to 28 million USD. Experts suggest that the upcoming protocol upgrade could help stabilize the price by enhancing the blockchain's utility and adoption rate.
Technical indicators show potential rebound space.
Analysts point out that the Relative Strength Index (RSI) of Pi coin is currently at 24, indicating that the token may be in an oversold state. If buying activity increases, its price could see a short-term rebound. An RSI below 30 is typically considered an oversold signal, suggesting that selling pressure may have been excessive and the opportunity for a technical rebound is increasing.
Despite recent positive developments in the testing of Pi's Testnet, which led to a price increase of 1.51%, the market environment remains challenging. The current market capitalization of Pi is $1.92 billion, far below its historical high of $18 billion. This significant value gap reflects both the pessimistic sentiment in the market and suggests potential upside.
Supply Pressure and Token Economics Challenges
Analysts urge the Pi core team to implement a token buyback or burn mechanism to reduce supply and help stabilize the coin's price. However, the upcoming issuance of 110 million Pi tokens in 2025 could put downward pressure on the token's price. The timing of the unlocking of these tokens coincides with the Mainnet upgrade, and balancing the increase in supply with the rise in demand will be an important challenge for the team.
Analysts warn that increasing liquidity is crucial for the recovery of the token. Currently, the trading volume of Pi coin is relatively low compared to its market value, which limits the efficiency of large capital inflows and outflows. If the Mainnet upgrade can attract more exchange listings or increase real-world application scenarios, the liquidity issue may gradually improve.
Market Challenges and Opportunities of Pi Network Mainnet Upgrade
Despite the promising prospects of the Testnet, the Pi Network still faces challenges in liquidity. The successful launch of the Pi Mainnet depends not only on technological advancements but also on the team's ability to address these liquidity issues.
If the network can attract more developers and users, it has the potential to become a strong competitor in the Web3 space and may benefit from the growing interest in decentralized applications and finance.
Competition landscape with mature blockchains
As Pi Network continues to evolve, its focus will shift towards ensuring that the blockchain can handle real-world applications. By integrating smart contract capabilities and decentralized finance tools, Pi is competing with more mature blockchains. Platforms like Ethereum, Solana, and BNB Chain have already established large developer communities and application ecosystems, and Pi Network needs to showcase a unique value proposition to stand out.
The upcoming upgrade aims to enhance the scalability, transaction speed, and support for decentralized applications of Pi, making it more competitive in the blockchain space. If successful, Pi will become a viable alternative for businesses and developers seeking decentralized solutions. Particularly for use cases that value low-cost transactions and ease of use, Pi Network may find its market positioning.
Long-term Prospects: From User Base to Ecological Value
Pi Network has a large user base, which is one of its biggest advantages. However, how to transform these users from mere mining participants into actual users of the ecosystem is a core issue that the team must address. The Mainnet upgrade provides the technological foundation for this transformation, but the ultimate success will depend on the practical application deployment and the improvement of user experience.
The network must overcome liquidity challenges and enhance market confidence to fully realize its potential. This requires simultaneous advancement across multiple levels, including technological upgrades, ecosystem development, market promotion, and tokenomics design. The Mainnet upgrade in Q4 2025 will be a critical time window to observe whether Pi Network can achieve these goals.
