Pi Network (PI) News: December 23

The Pi Network Core Team remains active even as the Holidays quickly approach, and they have outlined a way to be more connected to their community during the upcoming Christmas season.

Meanwhile, the underlying asset’s price has struggled to regain traction and is once again close to breaking below $0.20.

PI Holiday Surprise and New Updates

The Core Team made two separate announcements at the end of the previous business week. The first involved new updates for the Pi Network testnet decentralized exchange (DEX) and the Automated Market Maker (AMM).

The most significant change was the shift toward PI-denominated liquidity pairs. This allows the project’s native token to be positioned as the primary base asset on the testnet exchange, mirroring models from other established DeFi ecosystems.

The team said this should help Pioneers benefit from lower price volatility, reduced slippage during trades, greater resistance to manipulation, and clearer, more reliable price discovery. Pi Network’s team also outlined the refreshed DEX and AMM interface, which should simplify navigation and reduce friction for newcomers.

The second big announcement was influenced by the Holiday spirit. The so-called Community Commerce Initiative aims to support small PI-based businesses, strengthen the real-world utility of the token, and make it easier for Pioneers to discover apps and merchants that accept it.

App developers can create their own holiday deals, discounts, or various shopping activations, promote them in the PiFest Fireside Forum Channel, and handle their sales, fulfillment, and delivery directly with the potential customers. Users can browse the Pi ecosystem directory or the Fireside Forum to find participating merchants, shop through Mainnet commerce apps or at local PI-accepting businesses, and enjoy seasonal promotions.

The team said that 100 users will win branded shirts and hats, which will be fulfilled through a third-party provider with distribution available in more than 220 regions worldwide.

PI on the Verge

The aforementioned developments have not helped PI in trying to stay afloat during the Tuesday market-wide retracement. The asset targeted $0.21 yesterday but was stopped there and is now close to breaking below $0.20.

PI managed to defy the overall market crash in late October and November, going toward $0.30, but that momentum is long gone. On a broader scale, PI has slumped by over 93% from its late February all-time high of almost $3.00.

The average number of tokens scheduled to be unlocked in the following month has declined slightly to around five million. December 25 will see the biggest number of released tokens – almost nine million.