Pi Network Rolls Out Protocol 24 as PI Price Falls

Pi Network began rolling out Protocol 24 on its mainnet on June 3 after synchronization on Testnet 2, and mainnet nodes were required to update in early June to remain connected to the network. The rollout follows a staged testing process and is part of a rapid update schedule through June.

Protocol 24 includes subsystem improvements, internal data reprocessing, infrastructure upgrades and code-level optimizations aimed at improving stability and speeding node synchronization. The release also moves node software from Ubuntu 20 to Ubuntu 24 and upgrades the database from PostgreSQL 12 to PostgreSQL 16.

Pi’s development schedule lists further protocol releases in June: Protocol v25.1 on June 8 and v26.0 on June 22. Those updates are designed to target node performance, scalability and the maturation of smart contract capabilities, with the team planning expanded smart contract support later in 2026.

Market indicators show limited price response to the technical changes. On June 4, PI traded at $0.127, with a market capitalization near $1.36 billion. The token has fallen about 27% year-to-date and was at its lowest level since Feb. 14. Trading activity and liquidity metrics remain relatively low.

More than 174 million PI tokens are scheduled to unlock in June, representing roughly $26 million at current prices and increasing the number of tokens available for trading.

“All Mainnet nodes are required to complete this step before the deadline to remain connected to the network,” the Pi Core Team wrote in a May 27 post announcing the upgrade schedule. Protocol 24 was validated on Testnet 2 before the mainnet rollout; earlier releases, including Protocol 23, set baseline requirements for mainnet nodes.

The sequence of upgrades through June represents an accelerated release cadence for the network as it advances toward broader utility and smart contract functionality. The team has described the updates as preparation for utility-focused features later in 2026.