Pi Network Unveils Smart Contract Testnet Update

TLDR

• Pi Network activated its first smart contract capability on the Testnet following the protocol v20.2 upgrade.
• The Core Team released PiRC2 to open the subscription smart contract for technical review and community feedback.
• Some community members welcomed the update, while others raised concerns about delayed KYC verification and mainnet migration.
• The PI token traded near $0.17 despite the latest announcement and broader market recovery.
• PI remains nearly 95% below its all-time high of $3 reached at the start of 2025.

Pi Network released a new update on its smart contract roadmap, yet the PI price remained flat at $0.17. The Core Team confirmed that it activated the first smart contract capability on the Testnet and opened a new technical review process. However, community members expressed mixed reactions as some welcomed the move while others raised concerns over KYC delays.

Pi Network Expands Smart Contract Testing Framework

Pi Network confirmed that it upgraded to protocol v20.2 before March 14, also known as Pi Day. The upgrade laid the groundwork for smart contract functionality and prepared the network for broader testing.

Earlier this month, the Core Team announced that the first smart contract capability went live on the Testnet. The team said this feature would support “real, recurring, utility-driven use cases.” It added, “Think e-commerce, streaming, online tools, and more, powered on-chain,” while outlining intended applications.

Several hours ago, the team released the second Pi Request for Comment, known as PiRC2. The proposal opens the Testnet subscription smart contract for technical review and community feedback. The team encouraged Pioneers to integrate subscriptions into their applications and test for bugs or edge cases.

The update aims to strengthen developer participation within the ecosystem. The Core Team invited users to review the contract design and submit improvement suggestions. It stated that this step would support broader experimentation before any mainnet deployment.

Community Response and PI Price Performance

Community reactions surfaced quickly after the disclosure. X user Chen2Weels described the move as positive for the ecosystem. The user wrote that developers can now “test and deploy on their own apps,” and praised community involvement.

However, other members expressed frustration regarding pending KYC verification and delayed mainnet migrations. Some users stated that they have waited years for approval without resolution. They argued that the project should address these operational issues before expanding features.

Despite the announcement, the PI token traded at around $0.17, holding the same level as the previous day. The broader crypto market rebounded following an extended ceasefire in the Middle East. Still, PI failed to record upward momentum during that period.

When measured against its all-time high, the decline appears sharp. PI reached $3 at the start of 2025, yet it now trades nearly 95% lower. Market data shows sustained weakness across recent months.

In mid-March, the price spiked after Kraken enabled trading services for PI. The listing pushed the token to a multi-month high of $0.30. Since then, the asset has retraced and stabilized near its current range.

The latest disclosure marks another development milestone for the project’s Testnet. Meanwhile, the token continues trading at approximately $0.17 at the time of reporting.

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