Smart contracts became visible on Pi Network's testnet on August 27, showing live functions tied to BNPi, a booking application built on the network. The testnet activity demonstrated two specific functions in action: server_auto_release and release_booking_escrow.
Under the escrow system, funds are held at the time of booking and released automatically to hosts once a guest checks in, or according to predefined dispute-resolution rules if conflicts arise. One recorded transaction released more than 52 Test-Pi from escrow, with users reporting they could see the execution directly in their wallets for the first time.
Protocol 27 and Mainnet Timeline
The escrow functionality is part of Protocol 27, an upgrade aimed at expanding Pi Network's smart contract capabilities. The mainnet launch tied to these preparations is targeted for September 15, 2026. Infrastructure work is also underway on other fronts, with social media posts referencing interface upgrades to Pi Network's decentralized exchange and automated market maker features on the testnet.
Current Market Performance
Pi Network (PI) is currently trading near $0.09178, up 2% over the past 24 hours but down slightly over the past week. The token has underperformed the broader altcoin market recently. PI remains down more than 96% from its all-time high of $2.99, reached in February 2025, though it has recovered about 30% from its all-time low of $0.07059, set in July 2026.
Token Unlock Schedule
Projected monthly token unlocks are set to stretch into 2029, showing a significant slowdown compared to earlier unlock phases. Monthly unlocks are projected at relatively modest levels through that period, with one larger spike of 15,722 PI scheduled for August 2029.
