Pi Network is pushing forward with two significant developments aimed at enhancing its utility and infrastructure. The community is highlighting the importance of the Pi Wallet's fiat off-ramp functionality, which would allow users to directly convert Pi to traditional currency and deposit funds into their bank accounts. This feature is seen as a critical step in transitioning Pi from a speculative asset to a usable digital currency, particularly in emerging markets.
An example of existing utility is the PayofPi DApp, where users reportedly pay bills and make purchases, demonstrating real transactional flow within the Pi ecosystem. The community promotes this as evidence of a functional economy. Furthermore, the integration of a decentralized exchange (DEX) is emphasized as a "missing link" to connect Pi's internal economy with the broader crypto market, enabling price discovery and liquidity.
Concurrently, the network is undergoing a technical upgrade. The Pi core team has begun maintenance on Testnet2 to implement a protocol upgrade to version 23. This process has caused temporary pauses in wallet services and affected trading on some exchanges, including OKX, as previously warned by the team. The community has been advised not to panic, as the suspension is intended to improve security and network stability.
The v23 upgrade is expected to strengthen core infrastructure, including node control and protocol stability, as part of Pi's gradual development approach. Alongside this, new wallet features are reportedly rolling out, including the ability for users in some regions to link bank accounts, paving the way for broader financial functionality.
