#2026gate Anniversary celebration as of April 2026, Pi Network has entered its second year since the launch of the open mainnet. Recently, the core focus has shifted from "mainnet launch" to "ecosystem implementation" and "compliance infrastructure."

Recent technical milestones and progress (2026 Q2)

We are currently in a critical window for protocol upgrades and migrations:

- Node mandatory upgrade (in progress): Nodes must upgrade to Protocol 21.2 before April 6 to prepare for the May smart contract major version. Nodes that do not upgrade risk disconnection.
- v23 Protocol and smart contracts (May): Expected release of v23.0 on May 18, focusing on increasing TPS (target 5000+) and enhancing smart contract capabilities to support complex dApps.
- Secondary migration and KYC: The second balance migration has started (including referral rewards); KYC verifiers are being rewarded, and palm print authentication is in Beta testing.

2026 Strategic Layout: Three Core Directions

On the first anniversary of the open mainnet (February 2026), the official clarified the year's ecosystem focus:

1. Ecosystem Token Framework (Utility-First): Supports application-issued exclusive tokens but strictly prohibits pure fundraising. Rules are strict: a usable app must exist first, and all Pi raised must be injected into liquidity pools to prevent exit scams.
2. KYC as a Service: Will open Pi's real-name verification system to other Web3 projects and enterprises, making it a B2B infrastructure product for Pi.
3. AI Tool Integration: Incorporate AI capabilities into developer tools to assist ecosystem application development.

Infrastructure and Compliance Status

- Data Base: Approximately 16.2 million users migrated to the mainnet, about 17.7 million completed KYC, over 300 mainnet applications, and around 420k active nodes.
- Compliance Progress: Completed ESMA registration (Registration No. 549) under the EU MiCA framework and is advancing payment license applications in North America and Europe.

Risks and Current Alerts

- Liquidity Limitations: Despite the mainnet being open, external exchange gates (such as certain exchanges) still have limited trading pairs, and a large portion of Pi remains circulating within the ecosystem.
- KYC Bottleneck: Some users still experience delays in KYC review and migration, which is a major community concern at present.

If you are in Mainland China, please note that Pi is not officially recognized as a virtual currency by the Chinese authorities. When participating in ecosystem applications, it is advisable to test with small amounts to mitigate compliance and asset risks.