The long-awaited v23 upgrade for Pi Network is nearing completion, with testnet data showing robust stability under high transaction loads. The failure rate remains extremely low even during heavy traffic, indicating that the protocol is performing smoothly as it approaches the final stages of development.
Developers have confirmed that the upgrade from Testnet2 to v23 is almost finished, and once finalized, the core team will proceed directly to implementing the same upgrade on the mainnet. This transition is critical as it will enable the Pi blockchain to support decentralized applications, smart contracts, and tokenized assets, marking a significant milestone toward full blockchain functionality.
Mainnet metrics continue to show steady growth, with over 8.31 billion π in mining rewards migrated on-chain. Of this, approximately 5.04 billion π remain locked, while 3.26 billion π are unlocked. The total circulating supply reflects the migrated amount, and the effective total supply has surpassed 12.7 billion π. Network activity remains vibrant, with new accounts, payments, and wallet transfers occurring frequently.
In parallel, the Pi Core Team has released new documentation and tools for developers, including a guide on creating tokens on the testnet. This covers setting up issuer and distributor wallets, activating trustlines, minting tokens, and preparing assets for liquidity pools. Pi Wallet has also introduced features related to private keys and liquidity operations, enhancing developer capabilities ahead of the smart contract launch.
The ecosystem is increasingly focusing on Web3 gaming, with plans to evolve into a decentralized hub similar to Steam. With over 70 million pioneers and expanding developer tools, Pi aims to integrate digital currency, smart contracts, and gaming economies into a unified platform. The successful rollout of v23 on mainnet is expected to unlock this vision, though attention remains on finalizing testnet stability.
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