Pi Network Prepares for Protocol 28 Activation on October 16

Pi Network is entering the final stretch of its 2026 roadmap. Protocol 28 is set to launch on the mainnet on October 16, following a node migration scheduled by the 13th. However, on the market side, PI still struggles to bounce back. The token is worth 0.0824 dollars, 97.2% below its all-time high.

Protocol 28: a new milestone for the Pi network

Known for its mobile token mining, Pi Network has been upgrading since February. After version 27.1, finalized on September 15, the network is now preparing the transition to Protocol 28.

All mainnet nodes must therefore adopt version 28.0 by October 13. The network then aims for activation on October 16. Since September 25, the testnet already runs on this version.

The official node page also asks operators to update their machines. According to the project’s instructions, each migration should cause less than five minutes of downtime. Pi also plans a gradual rollout to avoid a simultaneous transition of all nodes.

Technically, three improvements stand out. First, validators will be able to vote on delayed transaction data without waiting for each node to have all information. Next, Pi enhances smart contract management by allowing group updates. Finally, the network strengthens control over data stored by applications.

Pi remains far from its record

For now, these advancements do not change market trends. At 12:10 UTC on October 7, PI trades at 0.0824 dollars. The token loses 6.3% in 24 hours and 10.3% over seven days, according to CoinGecko.

Especially, PI has traded below 0.10 dollars since July and recently fell back under 0.09 dollars. Its market capitalization reaches about 926 million dollars, while daily volume accounts for nearly 7.9 million dollars.

The contrast becomes hard to ignore: Pi Network has multiplied upgrades since the start of the year, but the market has not yet followed.

Activity still limited

Data from the Pi block explorer show the network continues to operate. At 12:07 UTC, the chain had just reached ledger no. 29,094,719. Over the last 100 blocks, the average interval was 5.3 seconds.

Source : PI Block Explorer

However, activity remains modest. These 100 blocks contained 836 operations, about 8.4 transactions per block, while 13 blocks contained no operations. Of the last 200 operations, 160 were simple payments and 35 were claimable balances. None involved a smart contract.

The next step will therefore provide an important indicator. Protocol 28 will need to show that technical improvements can also stimulate network usage. For now, the first deadline remains October 13, the migration deadline for nodes. Traffic and the nature of crypto transactions will then help measure the real impact of this new upgrade.