Pi Network Rolls Out Protocol v23 With Rust Smart Contracts Ahead of Q1 DEX

Pi Network has started introducing Protocol v23 in its ecosystem. The update shows a major technical step for the network. It introduces support for Rust based smart contracts. This change allows developers to build more advanced apps directly on 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 update comes as the network reports about 15.8 million users active on Mainnet. According to community updates, Protocol v23 focuses on core infrastructure. It put the groundwork for future features. Rather than launching everything at once. Currently the upgrade targets stability, security and developer tools.

Rust Smart Contracts Open New Use Cases

With Protocol v23 Pi Network now supports smart contracts written in Rust. Rust is widely used in blockchain development. Due to its speed and safety features. This move brings Pi closer to other major smart contract platforms. As a result, developers can design more complex applications. These include payment tools, on-chain services and early DeFi products. The team claims they need this step before they open the network to wider app usage. While they have now enabled smart contracts, they will introduce most features in stages. This approach focuses on reducing bugs and limiting network risks.

Q1 2026 DEX Plans Take Shape

Protocol v23 also prepares the network for a decentralized exchange. Which is planned for the first quarter of 2026. Community posts link this update directly to the upcoming Pi DEX. The exchange is expected to support token trading and liquidity pools. But the DEX is not live yet. Developers say the current upgrade focuses on backend readiness. The network must first complete testing and system updates. Later versions, including Protocol 25, are expected to expand these features. For now, the team frames Protocol v23 as a base layer for what comes next.

Broader Ecosystem Changes Continue

Aside from smart contracts and the DEX, several other updates are in progress. These include faster AI based KYC processing, app studio improvements and future token creation tools. The mining rate has also adjusted downward in January. This follows Pi Network’s monthly formula tied to network activity. At the same time, community members point to upcoming milestones. These include the one-year Open Network anniversary in February and Pi Day in March. 

Still many features remain under development. The team has not shared launch dates for most tools. With Protocol v23, make a shift toward a more functional network. Instead of hype driven updates the focus appears to be on building slowly. If successful, this upgrade could shape how Pi Network applications and its DEX operate later in 2026.