Pi Network has introduced Pi Request for Comment 2 (PiRC2), making its testnet subscription smart contracts available for developers and community members to review, test, and comment on before a broader launch. The goal is to stress-test recurring payment infrastructure inside the ecosystem and evaluate how well it works in practical conditions before full deployment.
PiRC2 centers on recurring on-chain payments
The new framework is designed for subscription-based smart contracts that let a user approve a payment arrangement once and then allow future charges to be executed automatically on a predefined schedule. Unlike traditional subscription systems that may require funds to be locked upfront, Pi Network’s model keeps the assets in the user’s wallet and deducts only when a payment event is triggered. That structure is intended to preserve user control while enabling automated billing.
On the technical side, the system is built with Soroban technology from the Stellar ecosystem and uses token allowance mechanisms to support controlled billing flows. According to the release, developers can create flexible payment logic, including weekly, monthly, or usage-based billing, depending on the needs of their applications.
Targeting memberships, AI tools, and commerce use cases
Pi Network said the subscription framework is aimed at practical applications such as digital memberships, AI tools, streaming services, e-commerce subscriptions, and local service billing systems. Users are also expected to retain direct control over their subscriptions, with the ability to pause, modify, or cancel them at any time.
Security and transparency are positioned as key parts of the design. Payments are executed automatically through smart contracts, reducing manual intervention, while transaction records remain on-chain for visibility and auditability. The use of blockchain-based execution also removes some intermediaries from the payment flow.
Community highlights public code access and infrastructure progress
In the community response, the Pi-related account 𝕏 FireSide described the release as a milestone for transparency because the smart contract code has been published on GitHub for testing and auditing. The account also pointed to early infrastructure progress, noting that a Pi Node-based RPC has successfully connected to the smart contracts, suggesting deeper integration at the network level.
Market sentiment, however, remains mixed. Pi Network is reported to be trading around $0.16 to $0.17 with a market capitalization above $1.7 billion, but it is still down more than 90% from its all-time high of $2.98. While retail interest appears to remain steady, the article notes that price action is still driven largely by speculation rather than utility at scale. Token unlock-related supply pressure also continues to be viewed as a major constraint on upside.
Overall, PiRC2 marks a step toward turning recurring on-chain payments into a testable product inside the Pi ecosystem. The bigger question now is whether open testing, code review, and community feedback can help the project move from experimental infrastructure to meaningful real-world usage.