Pi Network Sets Deadline for Protocol Upgrade as Price Slips Near All-Time Low

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DirectionBearish — Pi Network sets a deadline for protocol upgrades, but the coin price continues to slide toward historical lows.

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Pi Network (PI) has set a May 15 deadline for mainnet nodes to complete the Protocol 23 upgrade. The release will introduce full smart contract support to the Stellar-based blockchain for the first time. The mandate arrived just hours after the Pi Core Team confirmed Protocol 22 had successfully gone live. The back-to-back rollout aims to expand scalability and prepare the chain for Web3 features. Why the Protocol 23 Upgrade Matters for Pi Network Protocol 23 marks the biggest technical step for Pi Network since its open mainnet launched in February 2025. Built on Stellar Core 23, the release lays the groundwork for native smart contracts and decentralized applications on the chain. Node operators that fail to update by the deadline will be cut from the mainnet. They will lose the ability to validate transactions or earn participation rewards. Protocol 22, completed earlier this week, moved the network onto Stellar Core 22. Nodes were required to install version 0.5.4 software. The Pi Core Team warned that Protocol 23 takes longer than past releases. “The Pi Mainnet is upgrading to Protocol 23 – Deadline: May 15. All Mainnet nodes are required to complete this step before the deadline… This upgrade takes longer to complete, so plan accordingly,” they said in the post. What It Means for Price PI traded near $0.178 on Saturday, down 1.22% on the day. The token climbed close to 9% into the Protocol 22 deadline. Profit takers then stepped in, per CoinGecko data. Historically, Pi upgrades have produced short bursts of volatility followed by sharp pullbacks, often coinciding with token unlocks. Whether the May 15 deadline triggers a sustained move depends on broader sentiment and supply pressure. The upgrade alone has rarely been enough to drive durable price action. Pi Network is condensing two major infrastructure jumps into a single month. Traders are watching whether the May 15 deadline sparks another short-term spike. The alternative is the familiar pattern of post-upgrade fades, blocking a durable recovery.

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