Pi Network completes Protocol 20 upgrade, with NFT and subscription contracts coming soon

Pi Network confirmed on March 18 that the mainnet blockchain has completed the migration to Protocol 20, and all active main nodes have been upgraded to version 20.2. This is one of the most significant infrastructure milestones since Pi Network opened its mainnet—Protocol 20 provides the underlying technology support for deploying smart contract functions, supporting upcoming NFT and custodial features.

The Core Significance of Protocol 20: Officially Establishing Smart Contract Infrastructure

(Source: Pi Network X)

The key role of Protocol 20 is to provide an execution environment for smart contracts on the Pi Network mainnet. Smart contracts are automated programs deployed on the blockchain that automatically execute operations when preset conditions are met, without third-party intervention. Typical use cases include subscription payments, escrow services, and issuance and management of digital assets (NFTs).

This upgrade builds on the technical foundation laid by previous versions v19.6 and v19.9, which established the mainnet architecture. Protocol 20 transforms these preparations into a practical layer of smart contract functionality.

Phased Rollout Plan: Practical Features First, Complex DeFi Later

The Pi Network team has clarified that smart contract features will be deployed in phases rather than all at once. The rollout priorities are as follows:

Phase 1 (Subscription Contracts): Mimics monthly subscription payment models, the most familiar type of smart contract for everyday users, expected to launch first.

Phase 2 (Custodial Contracts): Supports locking and releasing funds under specific conditions, suitable for escrow scenarios.

Phase 3 (NFT Tools): Provides issuance and management capabilities for digital assets, enabling on-chain digital items for creators and users.

The Pi team’s approach is to develop features driven by realistic use cases rather than prioritizing complex DeFi protocols. This pragmatic strategy aims to serve a large and diverse user base with practical applications.

Pre-Launch Safety Procedures: External Audits, Community Feedback, and Testnet

Before deploying each smart contract to the mainnet, it must go through a three-step process: external security audits (to ensure no bugs), community feedback solicitation, and functionality verification on the testnet. Only after passing all these steps will the contract be deployed to the mainnet.

This phased process ensures the security and stability of the contracts at launch but also means full deployment will take some time. The synchronized updates to Pi SDK and Pi Wallet ensure developers and users can seamlessly access new features once the smart contracts are live.

Frequently Asked Questions

What does upgrading Pi Network to Protocol 20 mean?

Protocol 20 provides the Pi Network mainnet with a smart contract execution environment, with all main nodes upgraded to version 20.2. This milestone marks Pi Network’s transition from a pure payment network to an ecosystem supporting smart contracts, NFTs, and decentralized applications.

When will Pi Network’s smart contracts go live, and what features are expected first?

Smart contracts will be rolled out in phases, initially launching subscription contracts, followed by custodial contracts and NFT tools. Each contract must pass external audits, community feedback, and testnet verification before mainnet deployment. Full feature availability will take some time.

What changes do Pi Wallet and Pi SDK updates bring?

Updates to Pi Wallet and Pi SDK aim to support upcoming NFT and custodial features, ensuring users and developers can smoothly utilize new functionalities such as digital asset management and automated payments once smart contracts are live.