Pi Network has kept protocol development at the center of its April updates, even as PI price remains under pressure.
Summary
Pi Network expanded smart contract tools on Testnet as node operators prepared for Protocol 22.
The project is set to appear at Consensus 2026 as its co-founders discuss utility and digital identity.
PI price stayed weak despite upgrades and continues trading far below its all-time high.
In its Pi Day 2026 update, the team said Mainnet and Testnet2 moved through v19.6 on February 15, v19.9 on March 1, and v20.2 on March 13. According to Pi, those upgrades helped lay the foundation for smart contract features across the network.
That work moved forward again on April 17 when Pi Network introduced subscription smart contract capability on Testnet. The team said the feature is designed to support recurring blockchain services and business models. Pi described it as part of a push toward real, recurring, utility-driven use cases inside the ecosystem.
PiRC2 Opens the Feature for Review
Alongside the Testnet launch, Pi Network released PiRC2, its second Pi Request for Comment. The project said the document opens the subscription smart contract to technical review and community feedback before any Mainnet launch.
Pi said this process gives developers a chance to test the design, find edge cases, and suggest improvements.
The smart contract is designed so users can approve a set budget without signing every payment again. Funds stay in the wallet until charges are processed. Pi also said outside auditing services are reviewing the contract.
That points to a payment model aimed at subscriptions, commerce, and other repeated onchain activity.
Protocol 22 Deadline Draws Focus
Pi Network is also facing a near-term infrastructure milestone. A PiCoreTeam notice referenced by Coindar said Mainnet nodes must upgrade to Protocol 22 by April 27 to remain connected to the network.
That deadline is keeping attention on network readiness as Pi continues building out smart contract tools.
Beyond the protocol updates, Pi Network is also listed as a sponsor for Consensus 2026 in Miami.
Chengdiao Fan is scheduled to speak on aligning Web3, AI, and blockchain for utility. Nicolas Kokkalis is set to join a panel focused on proving human identity in an AI-driven world without sacrificing privacy.
Both sessions reflect themes Pi has been pushing around utility, identity, and trusted participation online.
PI Price Still Waiting for a Catalyst
Despite the steady development activity, PI has not seen a strong market reaction.
PI traded around $0.1687 on April 23, with daily trading volume near $11.17 million and a market value around $1.73 billion. Over the past week, the token slipped 1%.
The token also remains far below its previous highs. PI reached an all-time high of $2.99 in February 2025 and still trades more than 94% below that level.
For now, traders seem to be watching whether the Protocol 22 deadline, Testnet progress, and Consensus 2026 appearance can give the project fresh momentum.
