Pi Network has reached a milestone in its long-running protocol upgrade cycle, with the core team completing the final technical step toward launching protocol v27, according to announcements on social media.
The new protocol has stabilized at 250 transactions per block with no recorded failures during testing on Testnet 2, demonstrating capacity for higher traffic levels. The team is now preparing to transition the upgrade to the mainnet in the coming days.
Protocol Development Timeline
Pi Network began its sequence of protocol updates at the start of 2024, implementing version 19.6 initially, followed by v20.2, which introduced smart contract capabilities. During the summer, versions 25 and 26 were deployed, though both arrived after their original scheduled dates. Protocol v27 is designed to add more flexible and secure smart-contract authentication and was initially scheduled for September 15 deployment.
Token Supply and Market Data
PI has a maximum supply of 100 billion tokens, with the circulating supply currently around 11.24 billion units and total supply created at approximately 17.2 billion. Significant amounts remain locked and scheduled for future release, a factor closely watched by market participants for its potential impact on price.
Access to detailed supply and exchange data has been limited recently, as piscan.io—a primary source tracking PI tokens on exchanges and monitoring unlocks—has been unavailable for maintenance and service reviews.
Price Performance
As of the latest update, PI trades around $0.09, down approximately 8% over the past week. This decline contrasts with broader cryptocurrency market strength, where Bitcoin reached near $87,000 and Ethereum approached $2,800.
