Pi Network is preparing to deploy protocol version 28, with node operators required to upgrade by October 13 and mainnet activation expected on October 16. The upgrade improves transaction-data handling and allows developers to upgrade groups of smart contracts together.
The protocol update marks the latest in a series of developments for the project in 2026. Pi Network implemented version 19.6 at the start of the year, followed by v20.2, which established the foundation for smart contract capabilities. Versions 25 and 26 were deployed during the summer, while protocol v27 arrived in late September, each coming after initial target dates.
Pi Network has also announced a partnership with luxury automaker Lotus Cars and a collaboration with Open Standard, the company behind the stablecoin Open USD (OUSD). The partnership could introduce OUSD-based rewards and additional utility to the ecosystem, though implementation details have not been disclosed.
PI's price performance has remained weak. The token currently trades just above $0.08, representing a 97% decline from its all-time high near $3 at the start of 2025. Historical protocol upgrades have not consistently triggered price increases, and the project has a track record of delaying scheduled developments.
Technical analysts have noted potential support levels. One observer identified a possible double bottom formation on the daily chart with support holding around $0.075-$0.085, noting that a breakout above $0.10-$0.12 could strengthen recovery momentum.
