Pi Network Unveils Testnet for Subscription Smart Contracts: Auto-Pay Goes On-Chain

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Pi Network News: Developers Can Now Test Subscription Smart Contracts Before Full Rollout

Pi Network has launched Pi Request for Comment 2 (PiRC2), making its testnet subscription smart contracts available for developers and the community to examine, try out, and share their thoughts. This is being done to thoroughly test how recurring payments will work within the Pi Network before it’s officially released.

This update introduces a new system for subscriptions using smart contracts, allowing for automatic, recurring payments directly on the blockchain.

What PiRC2 Brings

Our system lets users authorize a subscription one time, and then payments happen automatically as scheduled. Instead of requiring full payment right away, like many other services, we hold the funds in the user’s account and only take money out when a payment is due.

This system is powered by Soroban, the technology behind Stellar, and uses secure token allowances for billing. Developers have the flexibility to create various payment plans, such as weekly, monthly, or based on how much the application is used, to best suit their needs.

This system is designed for real-world applications like managing digital memberships, AI tools, streaming subscriptions, online shopping, and local service payments. Customers have complete control over their subscriptions and can easily pause, change, or cancel them whenever they need to.

The system is secure because smart contracts automatically handle everything, minimizing the need for people to get involved. Every transaction is publicly recorded on the blockchain, making it transparent and difficult to tamper with, and it eliminates the need for middlemen in payments.

Community Response

The Pi Network team shared an update on their official FireSide account, announcing a major step forward in transparency. They’ve released the code for their smart contracts on GitHub, allowing anyone to review and test it. They also reported successful early tests, with Pi Nodes connecting to the smart contracts, indicating that the underlying technology is starting to come together.

Pi Price Outlook

Pi Network is currently valued at around $0.16 to $0.17, giving it a market capitalization of over $1.7 billion. While there’s continued interest in the cryptocurrency, its price is still more than 90% lower than its peak value of $2.98.

The situation is uncertain. While people are still actively buying, prices are mostly influenced by market speculation instead of widespread practical use. Additionally, increasing supply continues to hold back potential price increases.

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2026-04-22 08:22