Pi Network makes a significant breakthrough! Valour ETP's mining rate increases, DEX is about to open.

Valour Inc., a regulated cryptocurrency investment product issuer in Europe, has officially launched the Valour Pi (PI) Swedish Krona ETP on the Swedish Spotlight stock market, marking the successful debut of the first investment product based on the Pi Network on a public securities exchange. In December, the basic mining rate for Pi has slightly increased, and developers are performing technical cleanup on the testnet to make final preparations for the launch of Pi DEX.

Valour ETP Launch: Pi Network's First Regulated Investment Product

(Source: X)

The ETP has been disclosed in official regulatory documents and has been launched alongside the ETPs of assets such as Shiba Inu, VeChain, and Celestia. This marks the successful landing of the first investment product based on PI on a public securities exchange. As a result, Pi Network now has a regulated investment channel aimed at retail and institutional investors. More importantly, this move enhances the credibility of PI.

Valour Inc. is a leading European digital asset exchange traded product (ETP) issuer, whose products comply with strict EU financial regulations, including MiFID II and the UCITS framework. This means that the Valour Pi ETP needs to go through comprehensive due diligence, transparent asset custody, and regular regulatory reporting. For Pi Network, which has long been on the fringes of mainstream finance, this institutional recognition is a milestone.

Supporters believe that this marks the transition of the Pi Network from community Mining to broader financial recognition. Although Pi's internal economy currently dominates, this ETP product has built a bridge between Pi and the global capital markets. Retail investors do not need to directly hold Pi tokens or understand the complex wallet mechanisms; they can gain exposure to Pi price fluctuations simply by purchasing Valour Pi ETP through traditional securities accounts.

For institutional investors, the ETP structure offers tax efficiency, liquidity management, and compliance advantages. Pension funds, family offices, and asset management companies are often constrained by strict investment policies that prevent them from directly purchasing unregulated encryption assets. The launch of the Valour Pi ETP provides these institutions with a legitimate and compliant allocation channel, which may trigger a gradual influx of institutional capital.

December Mining Rate Increase: The Strategic Significance Behind the Adjustment

In addition to ETP-related news, Pi miners have also welcomed a subtle yet significant update. The base mining rate for December 2025 has increased to 0.0031296 Pi per hour, up from 0.0027551 Pi per hour in November, representing an increase of about 13.6%. At first glance, this change may seem trivial, as the absolute difference in values is quite small.

However, this reflects the stable adjustments in the maturation process of the Pi Network. Many pioneers believe that this update is a sign of ongoing technical fine-tuning rather than growth driven by hype. The mining rate design of the Pi Network follows a half-life model, which theoretically should gradually decrease as the user base grows and the network matures. However, the rate increase in December indicates that the development team may have made adjustments to balance the incentive mechanisms with token supply control.

Through lock-up, security circles, and reward multipliers, some miners' total earnings now exceed 0.008 Pi per hour. The security circle is a unique trust mechanism of the Pi Network, where users can invite up to five trusted members to form a security circle, and each additional member increases the mining rate. The lock-up mechanism allows users to commit to locking their mined Pi for a certain period (ranging from a few months to several years) in exchange for higher mining multipliers. These mechanisms are designed to encourage long-term participation rather than short-term speculation.

The message from the core community has always been consistent: the development of Pi Network, although slow, is clear in its goals. Unlike many encryption projects that pursue rapid launch and price pump, Pi has chosen a more cautious path, prioritizing the stability of the ecosystem and the genuine participation of users. The fine-tuning of the mining rate is a reflection of this philosophy.

Testnet Cleanup: Paving the Way for Protocol 23 and DEX

Behind the scenes, Pi Network is also conducting an important technical cleanup. Currently, only eight test tokens in all wallets are displayed as “N/A”. These tokens include early test contracts, expired domain names, and abandoned experimental projects from the early Testnet phase of Pi Network. Developers confirm that this cleanup is part of the final preparations for the full implementation of Protocol 23 and the launch of Pi DEX.

Removing outdated tokens helps create a clean environment for instant transactions, liquidity pools, and on-chain activities. The reduction of token listings not only does not decrease opportunities but rather shows that the Pi Network is moving towards a stable ecosystem suitable for production environments. A cleaner mainnet means fewer errors, fewer conflicts, and better support for actual economic activities.

Protocol 23 is an important milestone in the upgrade of the Pi Network mainnet, introducing key technological improvements including enhanced smart contract capabilities, improved transaction throughput, and stronger security. Pi DEX (decentralized exchange) is a long-awaited feature by the community, allowing users to trade Pi and other tokenized assets directly within the Pi Network ecosystem without relying on centralized exchanges.

Expected Impact of Pi DEX Launch

Liquidity Unlock: Users can trade Pi within the ecosystem, reducing dependence on external exchanges.

Price Discovery: Decentralized markets will form a more transparent pricing mechanism.

Ecological Expansion: Developers can build DeFi applications based on DEX, such as lending, liquidity Mining, etc.

Practicality Verification: DEX will be a key scenario for testing the real trading demand and network capacity of Pi.

The completion of the Testnet cleanup means that the Pi Network has entered the final sprint phase. Once all legacy issues are resolved and the new protocol is fully tested, the official launch of Pi DEX will no longer be a matter of “if,” but rather “when.”

From Theory to Practice: The Strategic Transformation of Pi Network

In summary, Valour ETP, Mining updates, and Testnet cleanup together tell a story: Pi Network is moving from theory to practice. The regulated investment achieved through Valour has opened the door for institutional investors. Mining updates support long-term participation. At the same time, the preparations for the DEX enhance internal usability. The community is still discussing prices and future listing plans. However, the current progress focus is no longer on speculation, but on infrastructure. Compliance, token security, and a real trading system are now the top priorities.

For many pioneers, this transformation is more important than short-term price fluctuations. Pi Network does not seek to attract attention but is committed to building the infrastructure that enables the ecosystem to operate on a large scale. This pragmatic attitude is particularly rare in the cryptocurrency industry, which is filled with hype and quick money.

Three Major Strategic Focuses of Pi Network's Current Stage

Regulatory Compliance: Establishing a legal connection with traditional finance through Valour ETP

Mature Technology: Improving the ecological infrastructure through Protocol 23 and DEX

Community Incentives: Adjust long-term participation through Mining mechanisms.

With the arrival of December, people's attention has shifted to the launch of decentralized exchanges (DEX) and Protocol 23. If the final steps can be completed as expected, Pi Network may soon enter its most significant development phase to date. From a closed mining community to an open financial ecosystem, from proof of concept to practical application, Pi Network is undergoing a difficult but necessary transformation.