Pi Network Ecosystem Tracker
Real-time tracking of protocol updates, on-chain data, and community activity
View LatestProtocol Version
Daily Transactions
Large Transfers
Fee Pool Daily Growth
Upgrade Countdown
Latest Events
View All →Official Announcement: V26 Upgrade is a Major Milestone, V27 is the Final Planned Upgrade
@PiCoreTeam issued the official V26 announcement on X. We already covered the updates to the official node documentation in yesterday's article, but the wording of this announcement is more noteworthy than any previous protocol upgrade. Three Key Points from the Official Tweet First: V26 Deadline Confirmed as August 11 This aligns with what was observed in yesterday's documentation and contains no new information. Second: V26 Characterized as a 'major milestone' This is the first time the official team has used the term 'major milestone' to describe a single protocol upgrade. In the past, from V22 to V25, the official announcements never specifically highlighted the importance of any particular version. This wording indicates that the team is consciously making the community aware that this upgrade sequence is entering its final phase. Third: V27 Confirmed as the 'final planned upgrade' The term 'final planned upgrade' marks the first time the official team has explicitly stated that V27 is the endpoint of this upgrade sequence. The word 'planned' is crucial—it doesn't mean the Pi Network will never have new upgrades, but rather that the current upgrade sequence, from V19 to V27, will conclude with V27. Current Position in the Full Upgrade Sequence 8 upgrades completed, 2 remaining. The official team stated that these final two upgrades will bring the network 'up to date with the latest protocol features, improvements, and functionality,' but did not specify the detailed technical content of V26 and V27 individually. OrbitWatch Monitoring Continues Around the August 11 deadline, we will continue to monitor the node container pull status and changes in the Mainnet protocol_version. Further Reading Official Node Documentation Update: V26 Deadline Set for August 11, V27 Appears in Upgrade Path for the First Time Pi Network Protocol Upgrade Mechanism: From Node Deadline to Mainnet Switch Data Source: @PiCoreTeam X official account (posted 2026/7/30), Pi Network official node upgrade documentation (docs.google.com, directly observed by OrbitWatch on 2026/7/29). All analysis does not constitute investment advice. OrbitWatch is an independent Pi Network ecosystem observatory and is not affiliated with the official Pi Network team.
- •The deadline for the Pi Mainnet V26 protocol upgrade is confirmed as August 11, 2026.
- •V26 is officially designated as a 'major milestone,' indicating that the current upgrade sequence is entering its final phase.
Jul 30, 02:22 AM
Read Full Analysis →Official Node Document Update: V26 Deadline Set for August 11, V27 Appears for the First Time in Upgrade Path
OrbitWatch today observed two updates directly from the official node upgrade document: the V26 node deadline has been set for August 11, and V27 has appeared for the first time in the upgrade path, with its deadline currently TBD. There was no formal announcement; this was a direct update to the document content. Current Status of Official Node Document The document also added a clear reminder: ⚠️ Do not begin any upgrade before it is officially announced as active. Full Upgrade Path and History The full upgrade path currently listed in the official document: Overview of each version's deadline: Several Noteworthy Details V26 upgrade difficulty is the same as V25. The document states this is "a very quick upgrade, with fast internal data migration, and expected downtime of no more than 5 minutes" — identical to the V25 description, unlike the V23 upgrade which required a full database rewrite. V27 appears for the first time, but with no details. The document only shows "26.1 → 27.0, TBD, TBD," without any functional description or estimated timeline. This is the first appearance of V27 in the upgrade path, indicating that the core team has included it in their plans, but no specific details are available yet. Comparison with V25 Time Lag V25 had the largest time lag to date. The V26 document indicates low upgrade difficulty, so if all goes as expected, the mainnet switch should be faster than V25 — but this is merely an inference based on past patterns, not a certainty. OrbitWatch Monitoring Continues We will continue to track changes in the official node document, as well as the actual status of nodes and mainnet around the August 11 deadline. We will also monitor whether the core team addresses the version number inconsistency observed in the V26.1 document description. Further Reading Pi Network Protocol Upgrade Mechanism: From Node Deadline to Mainnet Switch Confirmed: Pi Network Mainnet Protocol Officially Switched to v25 Data Source: Pi Network Official Node Upgrade Document (docs.google.com, directly observed by OrbitWatch on 2026/7/29). All analysis does not constitute investment advice. OrbitWatch is an independent Pi Network ecosystem observatory and is not affiliated with the official Pi Network team.
- •The official Pi Network node upgrade document has been updated, setting the V26 node deadline to August 11, 2026.
- •V27 has been added to the upgrade path for the first time, though its deadline is TBD and no details about its features or timeline are available.
Jul 29, 02:17 AM
Read Full Analysis →Pi Network Protocol Upgrade Mechanism: From Node Deadline to Mainnet Switch
Pi Network's mainnet protocol version does not update automatically, nor is it a one-time operation. Each upgrade follows a fixed process: first, a deadline for node software updates, followed by the actual switch of the mainnet's on-chain protocol version. There is usually a gap of several days to several weeks between these two events. This page compiles the upgrade patterns and mechanisms observed by OrbitWatch during its tracking from V21 to V25. Two Phases of the Upgrade Process Each Pi Network protocol upgrade is divided into two independent phases: Phase One: Node Software Update The official announcement sets a node deadline, requiring all node operators to complete software updates within the specified period. For nodes using Pi Desktop (Windows/macOS), this process is automatic—the software automatically pulls the new Docker image and switches to running the new container. The completion of the node software update does not mean the mainnet protocol version has switched. Phase Two: Mainnet Protocol Version Switch The mainnet's protocol_version officially switches only after a sufficient proportion of nodes have completed their software updates. Pi Network uses the Stellar Consensus Protocol (SCP), where nodes reach consensus through mutually trusted quorum slices—this mechanism dictates that the protocol version cannot be forcibly switched by a single node; the entire network needs to be ready. The usual observed sequence is: Testnet 2 switching first is a signal of successful technical validation, with the mainnet following shortly after. Complete Timeline of Past Upgrades OrbitWatch has tracked the complete record of each upgrade starting from V21: The three upgrades from V22 to V24 followed a very consistent pattern: the mainnet completed its switch within 3 days of the node deadline. V25 was a clear exception. Nearly two weeks after the deadline, the node software automatically pulled the v25 container (around 6/27-6/28); the actual switch of the mainnet protocol version was completed on the officially announced date (7/22), a full 34 days after the deadline. The official blog on 7/15 explained that v25 introduced BN254 encryption and Poseidon hash, making it a technically more complex upgrade than previous ones. It's also worth noting that the V24 node deadline was postponed twice: originally scheduled for 5/25 → 5/31 → finally set for 6/2. Deadline adjustments are not uncommon in Pi's upgrade process, and OrbitWatch observed these changes directly from official node upgrade documents each time, rather than through formal announcements. Why Do Upgrades Sometimes Take Longer? According to OrbitWatch's observations, at least two factors influence the length of the time gap: Technical Complexity. V23 introduced full Soroban smart contract support, and V25 introduced BN254 encryption and Poseidon hash—upgrades involving new protocol-level capabilities like these require more validation time than simple infrastructure enhancements (e.g., V24). Node Readiness Rate. The official team issues reminders after the deadline, indicating that not all nodes complete updates by the deadline. The mainnet switch requires waiting for a sufficient proportion of nodes to be ready, though this proportion has not been officially disclosed. Important Premise: The above are possible reasons inferred from observations; the official team has not provided specific technical explanations for any delays. OrbitWatch refrains from further speculation on uncertain aspects. What Do Node Operators Need to Do? For node operators using Pi Desktop (Windows/macOS): Software updates are usually automatic and do not require manual intervention. You can use the docker images command to check the currently running container version and confirm if the new image has been pulled. Updates to the Pi Node software itself (e.g., 0.6.0, 0.6.1) are separate from protocol version upgrades. The former are functional updates to the node application, while the latter are switches of the on-chain protocol version; they do not interfere with each other. How to Confirm the Current Mainnet Protocol Version? The most direct way is to query the Horizon API: The protocol_version field in the returned result indicates the current protocol version running on the mainnet. You can also check directly on the Pi Network Block Explorer: 👉 blockexplorer.minepi.com OrbitWatch's Horizon API monitor automatically checks every 15 minutes and publishes an update article immediately after a protocol version switch. Upgrade Tracking Record for Each Version Key Content OrbitWatch Tracking Articles | -------------------------------------------| PiRC1 framework effective Nodes running v22, but chain still v21 · V22 Confirmed Switch | Full Soroban smart contract support V23 Deadline Update · Testnet 2 Switched · V23 Confirmed Switch | Automated migration system optimization, node stability V24 Deadline Update · Testnet 2 Switched · V24 Confirmed Switch | BN254 encryption, Poseidon hash (basis for zero-knowledge applications) V25 Upgrade Announcement · Deadline Observation · Nodes Ready · Official Announcement 7/22 · V25 Confirmed Switch | To be determined — | Data sources: Pi Network Horizon API (api.mainnet.minepi.com), Pi Network Block Explorer, direct observation of Pi Network node interface, Pi Network official announcements. All analyses do not constitute investment advice. OrbitWatch is an independent Pi Network ecosystem observatory and is not affiliated with the official Pi Network team.
- •Pi Network protocol upgrades occur in two distinct phases: a node software update deadline, followed by the mainnet protocol version switch, often with a gap of days to weeks.
- •The duration of this gap can vary due to technical complexity (e.g., V25's BN254 encryption) and the overall node readiness rate across the network.
Jul 28, 01:30 AM
Read Full Analysis →What is PiRC2? Pi Network Subscription Contract API Explained
Overview PiRC2 (Pi Request for Comments #2) is Pi Network's first smart contract specification, published by Pi Core Team CTO Nicolas Kokkalis in April 2026. PiRC2 defines a Soroban-based Subscription Contract API — enabling merchants and users to establish automatic recurring payment subscriptions on the Pi blockchain. PiRC2's core innovation leverages Soroban's token allowance mechanism, allowing subscription payments without requiring the user to re-sign each time, while funds remain in the subscriber's wallet and are only transferred at the time of actual billing. This solves the core challenge of recurring payments on traditional blockchains. The subscription contract went live on Pi Testnet in April 2026, open for developer testing. The reference implementation (source code) is in the contracts/subscription/ directory of the PiNetwork/SmartContracts repository. Community review and external security audits are ongoing — mainnet deployment will follow after successful audit completion. OrbitWatch tracks all PiRC2 document updates in the PiNetwork/PiRC repository. Technical Specification Subscription Model Merchant service registration with configurable pricing Subscriber opt-in with or without upfront commitment Pre-approved token allowance via Soroban allowance mechanism Billing & Lifecycle Periodic charge processing without re-signing Expiration ledger for budget horizon control Subscription pause, resume, and cancellation flows Smart Contract Soroban-based reference implementation transfer_from allowance draw-down per billing event External audit in progress (PiNetwork/SmartContracts) Governance Community RFC via GitHub Issues Core Team ratification process Open-source reference implementation Timeline Event ------- PiRC2 specification published by Pi CTO (Nicolas Kokkalis) Community RFC process started — GitHub Issues open Subscription contract launched on Pi Testnet for developer testing External smart contract audit completed Subscription Contract mainnet deployment
- •PiRC2 is Pi Network's first Soroban smart contract spec; subscription contract launched on Testnet in April 2026
- •Funds remain in the user's wallet at all times, only transferred at actual billing — solving blockchain recurring payment challenges
Jul 27, 02:59 AM
Read Full Analysis →What is PiRC1? Pi Launchpad Ecosystem Token Design Spec
Overview PiRC1 (Pi Request for Comments #1) is the official protocol specification for Pi Network ecosystem token design, published by Pi Core Team CTO Nicolas Kokkalis in February 2026. PiRC1 defines Pi Launchpad — the complete framework for ecosystem projects to issue tokens on Pi Network. Core mechanisms include: PiPower participation-weighted distribution, token supply and vesting rules, liquidity provision requirements, and TGE (Token Generation Event) design principles. Unlike traditional blockchain ICOs, PiRC1 centers on "Pi ecosystem participation," giving long-term Pioneers priority in token distribution. Token sale proceeds go into permanent liquidity pools — not to project teams — reducing rug pull risk. In June 2026, the PiRC1 Enforcement Phase officially activated: all ecosystem token launches must be backed by a real, functioning application. Tokens cannot be issued based on a roadmap or whitepaper alone. OrbitWatch tracks all commits and community discussions in the PiNetwork/PiRC repository, providing real-time tracking of PiRC1 progress. Design Pillars Token Design Token name, symbol & total supply Initial distribution ratios Vesting & unlock schedules PiPower System Engagement-based allocation weight Lock-up duration bonus multiplier Anti-Sybil PiPower calculation Liquidity Minimum LP provision requirement Liquidity bootstrapping pool (LBP) option Token sale proceeds go into permanent liquidity pools Governance Community RFC via GitHub Issues Core Team ratification process KYC-integrated accountability Timeline Event ------- PiRC1 design documents published by Pi CTO (Nicolas Kokkalis) Community RFC process started — GitHub Issues open Pi Launchpad launched on Testnet (Pi Day 2026) PiRC1 Enforcement Phase activated — tokens must be backed by real apps Pi Launchpad Mainnet launch
- •PiRC1 is Pi Network's official ecosystem token framework; Pi Launchpad launched on Testnet on March 14, 2026
- •PiRC1 Enforcement Phase activated June 2026 — tokens must be backed by real, functioning apps
Jul 27, 02:59 AM
Read Full Analysis →Pi Launchpad Completes SLICE Test Token Distribution and Introduces Liquidity Pool Price Tracking
Pi Launchpad has completed the distribution of its second testnet token, SLICE. According to the official blog (published on 7/24), from June 11 to June 28, over 240,000 Pi miners participated in this test, contributing a total of 15.92 million Test-Pi in exchange for 10 million SLICE test tokens. What's Different This Time Compared to the First Test Token The official statement explains that the main difference between SLICE and the first test token is that SLICE is linked to a real, operational third-party game, 'Slice of Pi,' rather than a mock application used for testing. The official team states that this helps align with the Pi ecosystem token's 'product-first' goal—where the token's purpose is to support application utility, user acquisition, and engagement, rather than primarily for fundraising. The participation process has also been simplified. This time, focusing on the amount of Test-Pi contributed by miners, the Launchpad automatically calculates the corresponding fair access lock-up amount and presents participation benefits as percentage rewards. This aligns with the direction previously mentioned by the official team in Improved Participation Flow and Updated Model. What the Interface Now Offers After Distribution The official team explains that after the SLICE distribution is complete, the Pi Launchpad interface currently provides: Personal allocation details and token acquisition price SLICE liquidity pool access Price chart: tracking SLICE's price changes relative to Test-Pi How the Liquidity Pool Works (Official Explanation) The official team dedicated considerable space in this blog post to explain the AMM mechanism, which is one of the key highlights of this update. Under the Pi Launchpad model, the Pi received from token issuance does not belong to the issuer but enters a liquidity pool, paired with ecosystem tokens. The purpose of this design is to establish a healthy liquidity foundation from the outset. SLICE's liquidity pool utilizes an Automated Market Maker (AMM) algorithm, calculated using the constant product formula: SLICE Reserve × Test-Pi Reserve = Constant Product This means that each time a miner exchanges Test-Pi for SLICE, Test-Pi increases, SLICE decreases, and the displayed price of the remaining SLICE will rise; the reverse is true for the opposite exchange. The official team emphasizes that this pricing is automatically calculated based on the quantity changes of the two assets in the pool, not manually set. The official team also reminds: SLICE only exists on the testnet and will not be transferred to the mainnet. Purpose of This Test The official team clearly stated two purposes: first, to allow miners to gain practical exposure to DeFi mechanisms (liquidity pools, token swaps, automated pricing); second, to collect data and community feedback to further improve the Launchpad's design and mechanisms before the mainnet version goes live. Related Reading → Pi Launchpad Releases Improved Participation Flow and Updated Model Data source: Pi Network official blog (minepi.com/blog/launchpad-liquidity-pool/, published on 2026/7/24). All analyses do not constitute investment advice. OrbitWatch is an independent Pi Network ecosystem observatory and is not affiliated with the official Pi Network.
- •Pi Launchpad has completed the distribution of its second testnet token, SLICE, with over 240,000 miners participating and contributing 15.92 million Test-Pi.
- •Unlike the first test token, SLICE is integrated with a real third-party game, 'Slice of Pi,' reinforcing the 'product-first' approach for token utility and engagement.
Jul 24, 04:00 PM
Read Full Analysis →PiRC1
Read the PiRC1 Spec
PiRC1 is the core technical document for Pi Network's Open Mainnet upgrade, defining protocol version standards and node requirements.
Read Full SpecPiRC2
Explore the PiRC2 Spec
PiRC2 defines Pi Network's first smart contract capability — the Subscription Contract API for recurring on-chain payments.
Read PiRC2 SpecV23
Smart Contracts Guide
A deep dive into Pi Network V23 smart contracts — from PiRC2 subscription contracts to on-chain dApp integration.
Read Smart Contracts Guide