- Pi Network upgrades Testnet to protocol V22, moving toward V23 for better control.
- KYC process integrated into protocol aims for more community-driven verification.
- Pi’s price drops 88% from its all-time high amid token unlocks and sell pressure.
Pi Network is currently undergoing a series of blockchain upgrades, moving from protocol version 19 to version 22 on its Testnet. These upgrades are an important step in enhancing the blockchain’s functionality and control, with future updates expected for both Testnet2 and Mainnet.
The aim is to improve performance and the overall stability of the network, which could lead to further advancements in the ecosystem.
The Testnet has now successfully upgraded to version 22, which is a significant milestone in Pi Network’s ongoing development. The team has confirmed that work is already underway to upgrade the Testnet to version 23.
After completing these updates on the Testnet, the plan is to upgrade Testnet2 and the Mainnet to version 23 as well.
KYC Integration and Enhanced Features
One key feature of the upcoming upgrade is the integration of the Know-Your-Customer (KYC) process into the protocol. According to the Pi Network team, version 23 is based on Stellar v23 but has been customized for Pi Network.
The new protocol aims to offer more control to users while maintaining Pi as a KYC-verified blockchain. Additionally, the upgrade is designed to make the KYC process more community-driven and distributed at the protocol level.
This integration of KYC is expected to address some concerns raised by users, particularly those who have faced delays in getting their KYC approvals.
Some community members have expressed frustration, with one user commenting, “Will this improve KYC approvals? They need to hurry up and purge all UNVERIFIED Pi that doesn’t have KYC so we can go back to $1.”
Price Decline Amid Token Unlocks
Despite the progress in blockchain upgrades, Pi Network’s native token, PI, has faced a decline in price. As of mid-September 2025, the token trades at approximately $0.34, which is a sharp 88% drop from its all-time high of around $3 at the start of the year.
The recent drop in price has raised concerns among investors, especially as more than 137 million tokens are set to be unlocked in the next 30 days.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
