Pi Network is moving closer to launching Protocol V27 on its mainnet while the Pi Core Team works through KYC and wallet migration issues affecting nearly a million users. According to reports from September 22, 2026, Protocol V27 has advanced to Testnet 2 with the network processing about 250 transactions per block without recorded failures. The Core Team described this as the final technical step before switching to the live environment, though Pi Network's official account had not yet publicly confirmed the update.
The protocol upgrade follows a long development sequence that began earlier in the year with version 19.6. Later updates included v20.2, which laid the foundation for smart contract capabilities, as well as versions 25 and 26. Protocol V27 is intended to add more flexible and secure smart-contract authentication. The initial roadmap targeted September 15 for mainnet deployment, but the latest information shows testing continued into Testnet 2 after first being initiated on Testnet 1 in August.
Alongside the protocol work, Pi Network announced fixes for more than 900,000 user accounts. More than 417,000 Pioneers who had been flagged as possible duplicate accounts can now resume the KYC process after the Core Team refined its checks. These users must still complete remaining identity verification steps and satisfy Mainnet Checklist requirements before migration. Additionally, Pi reviewed older Yoti identity applications and is allowing affected users to resubmit through the native KYC system. Indonesian applicants who were rejected after uploading a KIA child identity card can also resubmit with another accepted document.
Separately, around 497,000 Fast-Track wallet users could not claim migrated PI because their wallets lacked enough tokens to cover network gas fees. The Core Team plans to deploy a technical fix within one week of the announcement, restoring access for affected accounts and preventing the same problem in future Fast-Track migrations. Earlier reporting showed that about 16.6 million of Pi Network’s claimed 60 million engaged Pioneers had completed mainnet migration by September 9, representing a conversion rate of roughly 27.6%.
Despite the ecosystem progress, PI traded near $0.09 on September 22, down about 8% for the week. That decline came while Bitcoin briefly touched $87,000 and Ethereum approached $2,800. Some traders pointed to the $0.07 to $0.08 zone as support and identified $0.10 to $0.11 as a key resistance area. Pi Network has a maximum supply of 100 billion tokens, with circulating supply currently around 11.24 billion and total created supply near 17.2 billion, leaving many tokens locked for future release.
