Pi Network Announces Major Protocol Upgrade as Valour Pi ETP Trading Begins

Pi Network has unveiled the roadmap for its v23 protocol upgrade. The network also released its Linux Node to strengthen its infrastructure. This announcement follows the launch of the Valour Pi ETP, which is now trading in the market.

Pi Network Reveals v23 Protocol Upgrade Roadmap

In a recent blog post, Pi Network announced it will upgrade from protocol version 19 to version 23. This upgrade adds new features, including the ability to embed KYC authority directly into the blockchain.

This week, Testnet1 upgrades kick off the phased rollout, which will then proceed to Testnet2 and ultimately Mainnet.  The Pi Core Team emphasized that disruptions will be announced in advance, even though brief outages may impact centralized exchanges (CEXs) and blockchain services.

Notably, the move reflects broader trends in the blockchain industry. Pi focuses on following standard rules and embedding identity, which aligns with new standards, such as ERC-3643. This also adds verification directly into tokens.

The announcement comes on the heels of Stellar Protocol’s upgrade to version 23. This also impacts Pi Network as it is built on Stellar’s infrastructure.

The Pi Network also introduced a Linux Node version, expanding its support to include Mac, Windows, and Linux. This long-requested update gives developers a standardized way to run Pi Nodes on Linux-based systems. For service providers and exchanges, the release eliminates the need for custom builds. This enables smoother protocol updates and allows for auto-updates directly from the network.

Valour Pi ETP Begins Trading in Sweden

In other developments, Valour Pi ETP has officially begun trading on Sweden’s Spotlight Stock Market. The product, issued by PiDeFi Technologies subsidiary Valour, offers regulated exposure to Pi through traditional brokerage accounts.

This came after Valour announced the Pi ETP launch alongside seven other products. Priced in Swedish kronor with a 1.9% management fee, the product enables European investors to participate in the Pi ecosystem without relying on cryptocurrency exchanges. 

Market data indicate that the ETP is currently trading at an average of $0.3455 (USD equivalent). The Times of Pi Network highlighted the product’s debut, noting the excitement surrounding its launch.

The upgrade and ETP launch come amid growing network activity. Just days earlier, the Pi Foundation wallet transferred 550 million PI tokens in several large transactions. Many pioneers believe this might be related to an upcoming migration or preparations for wider exchange listings, although no official explanation has been provided.

In light of that, a past Pi Hackathon winner hinted that Coinbase could list Pi soon. Despite not being verified, the rumor has excited pioneers. The launch of the Valour Pi ETP and the Protocol v23 update could impact the token’s long-term value, particularly since the price has remained steady and has not fluctuated significantly.