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News
Aug 28, 2026
2min read
byAnjali Belgaumkar
forCoinpedia
<img src="https://xpertsstudio.com/wp-content/uploads/2026/08/Pi-Network-New-Will-Pi-Price-Rally-After-August-24-Pricing-Update.jpg” alt=”Pi Network News: Smart Contracts Go Live on Testnet, Will Pi Price Breakout?” loading=”lazy”>
Pi Network testnet wallets showed visible smart contract executions on August 27, including server_auto_release and release_booking_escrow functions that released more than 52 Test-Pi from escrow for the BNPi booking app, signaling live DeFi/escrow functionality ahead of the mainnet token launch targeted for September 15, 2026. In the crypto context, Protocol 27 and DEX/AMM interface upgrades are being tested while PI trades at $0.09178 (up 2% 24h, down over the week) and projected token unlocks slow into 2029 with monthly releases like 3,405 PI in July and a 15,722 PI spike in August, a supply dynamic that could support adoption and price.
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Smart contracts became visible inside Pi Network testnet wallets on August 27, showing live functions tied to BNPi, a booking application built on the network. Community members are treating the visible onchain activity as a meaningful signal ahead of Pi Network’s planned mainnet transition.
The testnet activity showed two specific functions in action: server_auto_release and release_booking_escrow. Under this system, funds are placed into escrow at the time of booking, then released automatically to hosts once a guest checks in, or according to predefined dispute-resolution rules if a conflict arises.
One recorded transaction released more than 52 Test-Pi from escrow. Users on social media described being able to see this execution directly in their wallets for the first time, calling it a step toward practical transparency for the network.
Part of Broader Protocol 27 Preparations
The escrow functionality ties into Protocol 27, an upgrade aimed at expanding Pi Network’s smart contract capabilities. The mainnet launch tied to these preparations is being targeted for September 15, 2026. Separately, social media posts referenced an interface upgrade to Pi Network’s decentralized exchange and automated market maker features on the Pi Wallet testnet, suggesting broader infrastructure work is underway alongside the smart contract rollout.
Pi Network (PI) is currently trading near $0.09178, up 2% over the past 24 hours but down slightly over the past week. The token has underperformed the broader altcoin market recently, with many altcoins posting gains in the 30% to 50% range over the same period.
PI remains down more than 96% from its all-time high of $2.99, reached in February 2025, though it has recovered about 30% from its all-time low of $0.07059, set in July 2026.
Separate data outlined projected monthly token unlocks stretching into 2029, showing a significant slowdown compared to earlier unlock phases. Projected unlocks for that period include 3,405 PI in July, 2,488 PI in September, 2,841 PI in October, 2,698 PI in November, and 3,694 PI in December, with one larger spike of 15,722 PI in August of that year.
Some have framed this slower unlock pace as a potential long-term positive for price, since it would reduce new sell-side supply hitting the market from mining rewards.
Source: cryptorank.io