The team behind the controversial project has announced a firm deadline for the rollout of its latest protocol update, version 23.
At the same time, the native token has stabilized near $0.18 after recent volatility, though past behavior suggests price swings could resume as the community anticipates new updates.
V23 Is Coming
Pi Network’s series of major protocol upgrades began in late February with version 19.6. That was followed by v19.9 in early March, and a more consequential release, v20.2, which established the foundations for smart contract functionality, was implemented on Pi Day (March 14).
The team maintained a steady pace of upgrades through April. Version 21 was deployed at the start of the month, and version 22 arrived at the end of April, although it was officially confirmed on May 1.
The Core Team initially hinted at the next milestone in the roadmap—version 23—and advised the network’s Nodes to await further instructions. That wait was short: the team has now provided a deadline and clear guidance.
Earlier today, the official X account associated with Pi Network announced that Protocol 23 must be implemented by May 15. As with prior upgrades, all Mainnet Nodes are required to complete the prescribed steps before the deadline to avoid being disconnected from the network.
The Pi Mainnet is upgrading to Protocol 23 – Deadline: May 15.
All Mainnet nodes are required to complete this step before the deadline to remain connected to the network. This upgrade takes longer to complete, so plan accordingly.
Details here: https://t.co/9VehO7hhj1
— Pi Network (@PiCoreTeam) May 2, 2026
Please ensure your node is updated in time to maintain network access; this upgrade may require more time than previous ones.
Will PI Rally Ahead of the Upgrade?
The project’s native token has often behaved independently of broader crypto market trends, appearing to respond mostly to internal developments. Last week, while Bitcoin and many altcoins were flat or in decline, PI rallied from $0.17 to $0.20 amid heightened community activity.
As markets began to recover following the FOMC announcement on Thursday, PI encountered resistance at that monthly high and fell back toward $0.17. The prior gains coincided with anticipation for the new protocol update and a team announcement highlighting the completion of more than 526 million tasks by one million verified users.
With Protocol 23’s deployment deadline approaching, the key question is whether PI will see renewed buying pressure in the coming weeks as expectations build. Historically, price movements in this project have tracked announcements, milestones, and upgrade schedules rather than broader market direction, so traders and holders may monitor developer communications closely for further catalysts.
For node operators, the priority is to follow the upgrade instructions and complete the necessary steps before May 15 to remain connected to the Mainnet. For investors and observers, attention will likely stay on team updates and network metrics that could influence sentiment and, consequently, price action.