Pi Network has confirmed that its Mainnet successfully completed the Protocol 28 upgrade on October 16, ahead of the project's first Ecosystem Summit scheduled for November. The announcement followed reports questioning whether the update had gone live on schedule.

The development coincided with a modest recovery in the PI token, which rose around 3% on October 29 to trade near $0.08 after weeks of losses. Alongside the protocol confirmation, the project has rolled out new desktop tools and continues to explore stablecoin payments.

Protocol 28 Upgrade Confirmed on Mainnet

Pi Network said on October 22 that Mainnet switched to Protocol 28 on October 16. The team's statement confirmed the upgrade's completion after reports had cast doubt on whether it launched on schedule.

The upgrade improves the handling of delayed transaction data and streamlines smart contract maintenance. Developers can now update several smart contracts together and make safer changes to information stored by applications. However, Pi has not announced a broad release of public smart-contract apps following the upgrade.

For context, Curve Finance launched on Stellar on October 29, bringing trading tools to another blockchain's smart-contract system. Pi Network has not provided a timetable for comparable public services.

First Ecosystem Summit Set for November

Pi Network will host its first online Ecosystem Summit from November 17 to 19, 2026. The three-day event will feature software announcements, developer demonstrations, showcases of existing applications, and details of another upcoming hackathon.

According to the project, the Core Team will meet with developers during the event. Pi's ecosystem currently includes more than 300 Mainnet apps. With a public smart-contract rollout and OUSD integration details both still unannounced, the summit's software announcements mark Pi's next scheduled update point.

In a separate development, a Spanish-language Axis Robotics community account described a possible Pi integration, though it offered no technical details or launch date.

OUSD Stablecoin Exploration and Desktop Updates

Pi Network is exploring rewards and payment use cases for Open Standard's OUSD stablecoin. The broader stablecoin sector continues to grow: Visa reported $25 billion in annualized stablecoin settlement this week. Pi has not announced an OUSD Mainnet launch date or integration details.

On the tooling front, Pi Desktop version 0.6.4, released on October 22, removed the need for manual router changes when accessing SoloHost apps remotely. The software also introduced checks designed to limit each app's access to unrelated files and networks.

PI Price Outlook

PI traded near $0.079 on October 29, gaining roughly 3% over 24 hours. Despite the recovery, the token remained lower for the month after trading above $0.09 in early October.

Market analyst Crypto With Gopal identified a possible double-bottom pattern near $0.074. Separately, Bitcoin exchange netflows turned positive as the wider market tracked developments around $80,000 BTC.

"A breakout above $0.082 could open the door toward $0.090-$0.092. Bulls need to reclaim resistance to confirm momentum," Gopal wrote on X.

Source: Blockonomi