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$PI Pi Day 2026 Pi Network Major Updates Summary:
1. Pi Launchpad Testnet Launch: Ecosystem token issuance platform prioritizing products over fundraising, with Pi collection entering liquidity pools.
2. Protocol Upgrade to Protocol 20: Paving the way for smart contracts, with subsequent support for NFTs, on-chain trading, DApps, and more.
3. Smart Contracts Roll Out in Phases: Priority given to subscription, custody, and NFT contracts, launched to mainnet after audits, reviews, and testing.
4. Second Mainnet Migration Initiated: Users who completed the first migration can transfer more balance; referral rewards require subordinates to complete KYC.
5. KYC Verification Rewards Distribution: Reward pool composed of user contributions and foundation subsidies, with badge distribution.
Core Interpretation: Pi is transitioning from user accumulation to ecosystem application development, maintaining product-first prioritization, leveraging over 16 million KYC verified real users, and progressively improving on-chain functionality.