Pi Network activates Protocol 23 on May 11, enabling smart contracts and DeFi on its blockchain.

Pi Network will activate Protocol 23 on May 11, advancing its blockchain to support full smart contract functionality. This upgrade transforms Pi from a mobile mining project into a programmable platform capable of hosting decentralized finance (DeFi) applications and real-world asset tokenization. The activation follows the recent Protocol 22 upgrade, which stabilized the network by removing non-compliant nodes. With over 421,000 active nodes and a market cap of about $1.73 billion, Pi Network is positioning itself as a key player in programmable finance and proof-of-personhood, coinciding with its co-founders' presentations at Consensus 2026 in Miami.