The Pi Network Paradox: Major Feature Launched, But PI Token Slides Again

The group behind the favored but controversial venture continues to attempt to enhance the general ecosystem with completely different initiatives introduced continuously, however to no precise avail when it comes to neighborhood approval and token worth restoration.

In the newest instance, they introduced the primary sensible contract functionality going dwell on Testnet, however the underlying asset continues to slip, whereas the feedback under the submit proceed to check with outdated points they expertise.

First Smart Contract Capabilities

Pi Network’s protocol updates began in late February when the community migrated to model 19.6. The following month and a half noticed the introduction of model 19.9 and, maybe most significantly, 20.2. The latter laid out the foundations for permitting sensible contract options. V21 followed in early April, whereas V22 is scheduled to be completed by April 27.

In its newest announcement on X, the Core Team outlined the introduction of the aforementioned first sensible contract capabilities instantly on the venture’s Testnet. According to them, this might foster “actual, recurring, utility-driven use instances.”

They additionally promised that the blockchain will now be capable of energy e-commerce, streaming, on-line instruments, and different equally engaging niches.

Pi’s first sensible contract functionality is now dwell on Testnet: subscriptions!

This fosters actual, recurring, utility-driven use instances.

Think e-commerce, streaming, on-line instruments, and extra, powered on-chain.

Read extra within the Pi mining app. pic.twitter.com/tafdpuGAu1

— Pi Network (@PiCoreTeam) April 17, 2026

Despite this seemingly optimistic information, nearly all of the feedback under the submit on X have been nonetheless centered on one other essential matter: KYC. Many proceed to expertise points when making an attempt emigrate their tokens, regardless that they declare they’ve efficiently accomplished all needed steps. The group began second migrations final month and insists that lots of of hundreds of Pioneers have accomplished the switch of their balances, however the neighborhood stays unconvinced.

PI Slides Again

After final month’s temporary worth pump following the Kraken itemizing, the underlying asset has been in a free-fall state for 4 weeks, falling from virtually $0.30 to nicely under $0.20. It tried to stage a comeback earlier this week, however was halted at $0.185 right this moment.

The subsequent rejection was fairly painful, pushing the asset all the way down to $0.173 as of press time. Its market cap is all the way down to $1.760 billion on CoinGecko, which endangers its place within the prime 50 alts by that metric regardless of the minor 7-day enhance.

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