Pi Network is entering 2026 with significant developments in its user base, infrastructure, and tokenomics, highlighted by a scheduled 134 million PI token unlock in January. This follows an 8.7 million token unlock in December 2025. The project reported that over 17.5 million users have fully passed KYC verification, with approximately 15.8 million users migrated to the Mainnet.
Blockchain data indicates a consistent mapping rate of roughly one million Pi tokens to user wallets daily. The network frames this pace as stability-focused, tied to ongoing security checks and infrastructure readiness. KYC processing continues via Fast Track KYC and process updates designed to reduce backlogs.
Ecosystem and technical upgrades are shaping the network's plans. The project recently upgraded its testnet DEX and AMM tools, introducing a redesigned interface and shifting trading pairs to be Pi-denominated to concentrate liquidity. Testnet2 integration with smart contracts has been completed, enabling end-to-end contract execution and on-chain state changes, which is expected to lower transaction fees. The update also added tooling upgrades, including Linux runtime support.
App development has increased following the Pi Hackathon 2025, with over 215 completed Mainnet apps referenced in project updates. The Pi App Studio remains central to expansion, with creators publishing more than 13,400 chatbot apps and 24,400 custom apps. The studio now offers options to download, customize, and reupload code for iterative development.
Infrastructure work continues with node software and protocol updates. Node software has been updated from versions 0.5.2 to 0.5.4 and rebranded as Pi Desktop. The network also released a Pi Linux Node package for standardized, self-updating operations. Protocol upgrades moved from version 19 to version 23, adding network control and functionality. Pi reported over 350,000 nodes on its Testnet, representing more than one million CPUs.
The upcoming 134 million token unlock places attention on real usage and demand within the Pi ecosystem. Developers and community contributors point to payments, services, and app-based demand as key areas to absorb the added supply. Market sentiment is currently divided, with long-term holders advocating for accumulation at current prices while skeptics warn of potential selling pressure. Price forecasts vary widely, from cautious scenarios of $0.15–$0.20 to optimistic projections up to $0.49, heavily influenced by community sentiment due to a lack of common technical indicators. At the time of writing, Pi coin traded at $0.2049, up 0.67% over 24 hours with a market cap of $1.71 billion.
