Pi Network has rolled out Pi Request for Comment 2 (PiRC2), opening its testnet subscription smart contracts for developers and the community to review, test, and give feedback. The move is aimed at stress-testing recurring payment systems inside the ecosystem before full deployment.
The update focuses on a subscription smart contract system that enables recurring payments directly on-chain.
Also Read : Pi Network News: Industry Asks Why Binance Listed a 95% Crash Token When Millions of Pi Holders Await
The system allows users to approve a subscription once, after which payments can be executed automatically on a set schedule. Unlike traditional models that lock full funds upfront, Pi’s approach keeps funds in the user’s wallet and only deducts when a payment is triggered.
It is built using Soroban technology from the Stellar ecosystem, using token allowance mechanisms for controlled and secure billing. Developers can also design flexible payment structures, including weekly, monthly, or usage-based models, depending on their application needs.
The framework is aimed at practical use cases such as digital memberships, AI tools, streaming services, e-commerce subscriptions, and local service billing systems. Users retain full control over their subscriptions, with the ability to pause, modify, or cancel at any time.
Security is handled through automated smart contract execution, reducing manual intervention. Transactions are recorded on-chain, making the system transparent and harder to manipulate, while also removing intermediaries from the payment flow.
A Pi Network community account, 𝕏 FireSide, described the release as a transparency milestone, stating that smart contract code has been made publicly available on GitHub for testing and auditing. It also highlighted early technical progress, including a Pi Node-based RPC successfully connecting to smart contracts, suggesting deeper infrastructure integration.
Pi Network is currently trading around $0.16–$0.17 with a market cap of $1.7B+. Despite steady interest, it remains over 90% below its all-time high of $2.98.
The outlook remains mixed. Retail engagement is still strong, but price action is largely driven by speculation rather than real utility at scale. Supply unlock pressure also remains a key factor limiting upside.
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