Pi Network Launches Protocol v23 with Rust Support Before Q1 2026 DEX

TLDR

Table of Contents

Pi Network adds Rust smart contract support with Protocol v23 for app development.
15.8 million users have migrated to the Pi Network mainnet.
A decentralized exchange is planned for launch in Q1 2026.
Protocol v23 integrates Stellar Core v23.0.1 for faster transaction speeds.

Pi Network has released Protocol v23, a technical update that introduces Rust-based smart contracts and prepares the platform for a decentralized exchange launch in Q1 2026. The update also enhances mainnet performance and aligns with the network’s slow rollout of core infrastructure upgrades.

Rust-Based Smart Contracts Now Enabled

Pi Network has officially launched Protocol v23, enabling smart contracts built using the Rust programming language. Rust is known for its security and speed, and it is already used on several blockchain platforms. This new feature allows developers to build more complex decentralized applications directly on the Pi Network.

🚨Protocol v23 is rolling out, enabling Rust-based smart contracts and paving the way for our Q1 2026 DEX. With 15.8M Pioneers on Mainnet, this upgrade is a critical step in building a robust, utility-driven economy. The future is being coded🖥 #PiNetwork #DeFi @fen_leng pic.twitter.com/WZtrG5BUWB
— PiNetwork DEX⚡️阿龙 (@fen_leng) January 6, 2026

The move marks a technical shift from prior infrastructure, which did not support native smart contract deployment. According to the development team, the goal is to allow gradual onboarding of advanced features while keeping the network stable and secure. Rust support lays the groundwork for a broader set of services, including DeFi and on-chain tools.

Q1 2026 DEX Prepared Through Backend Enhancements

Protocol v23 also prepares the platform for its decentralized exchange (DEX), which is scheduled to launch in the first quarter of 2026. Although the DEX is not yet live, developers have confirmed that the upgrade is essential for backend readiness. This includes token trading capabilities and support for liquidity pools.

The team stated that additional protocols, such as Protocol 25, will expand functionality in the future. Current updates are focused on establishing the foundation. As testing and updates continue, more information is expected to be shared in the months ahead.

Network Activity and Migration Growth

Pi Network has also reported that 15.8 million users, known as Pioneers, have completed their migration to the mainnet. This number shows the growing base of users who are actively participating in the network’s ecosystem.

The upgrade also brought improvements to transaction speeds by integrating Stellar Core version 23.0.1. These technical changes are designed to improve user experience while supporting the planned application and contract activity expected later this year.

Ongoing Updates Across Ecosystem

In addition to smart contracts and the upcoming DEX, Pi Network is continuing with several other initiatives. These include faster Know Your Customer (KYC) processing using AI tools and new developer options through the App Studio. Token creation tools are also in development, though no release date has been announced.

The mining rate saw a downward adjustment in January, following the platform’s formula tied to active network usage. The team is also preparing for milestones such as the Open Network anniversary in February and Pi Day in March.

Despite these steps, many features remain in progress, with limited public timelines. The current strategy appears to focus on phased rollouts instead of releasing all features at once. This method allows more control over network performance and stability as more users and developers engage with Pi Network tools.