2026-07-27
What is PiRC2? Pi Network Subscription Contract API Explained
Overview PiRC2 (Pi Request for Comments #2) is Pi Network's first smart contract specification, published by Pi Core Team CTO Nicolas Kokkalis in April 2026. PiRC2 defines a Soroban-based Subscription Contract API — enabling merchants and users to establish automatic recurring payment subscriptions on the Pi blockchain. PiRC2's core innovation leverages Soroban's token allowance mechanism, allowing subscription payments without requiring the user to re-sign each time, while funds remain in the subscriber's wallet and are only transferred at the time of actual billing. This solves the core challenge of recurring payments on traditional blockchains. The subscription contract went live on Pi Testnet in April 2026, open for developer testing. The reference implementation (source code) is in the contracts/subscription/ directory of the PiNetwork/SmartContracts repository. Community review and external security audits are ongoing — mainnet deployment will follow after successful audit completion. OrbitWatch tracks all PiRC2 document updates in the PiNetwork/PiRC repository. Technical Specification Subscription Model Merchant service registration with configurable pricing Subscriber opt-in with or without upfront commitment Pre-approved token allowance via Soroban allowance mechanism Billing & Lifecycle Periodic charge processing without re-signing Expiration ledger for budget horizon control Subscription pause, resume, and cancellation flows Smart Contract Soroban-based reference implementation transfer_from allowance draw-down per billing event External audit in progress (PiNetwork/SmartContracts) Governance Community RFC via GitHub Issues Core Team ratification process Open-source reference implementation Timeline Event ------- PiRC2 specification published by Pi CTO (Nicolas Kokkalis) Community RFC process started — GitHub Issues open Subscription contract launched on Pi Testnet for developer testing External smart contract audit completed Subscription Contract mainnet deployment
- •PiRC2 is Pi Network's first Soroban smart contract spec; subscription contract launched on Testnet in April 2026
- •Funds remain in the user's wallet at all times, only transferred at actual billing — solving blockchain recurring payment challenges
Jul 27, 02:59 AM
Read Full Analysis →What is PiRC1? Pi Launchpad Ecosystem Token Design Spec
Overview PiRC1 (Pi Request for Comments #1) is the official protocol specification for Pi Network ecosystem token design, published by Pi Core Team CTO Nicolas Kokkalis in February 2026. PiRC1 defines Pi Launchpad — the complete framework for ecosystem projects to issue tokens on Pi Network. Core mechanisms include: PiPower participation-weighted distribution, token supply and vesting rules, liquidity provision requirements, and TGE (Token Generation Event) design principles. Unlike traditional blockchain ICOs, PiRC1 centers on "Pi ecosystem participation," giving long-term Pioneers priority in token distribution. Token sale proceeds go into permanent liquidity pools — not to project teams — reducing rug pull risk. In June 2026, the PiRC1 Enforcement Phase officially activated: all ecosystem token launches must be backed by a real, functioning application. Tokens cannot be issued based on a roadmap or whitepaper alone. OrbitWatch tracks all commits and community discussions in the PiNetwork/PiRC repository, providing real-time tracking of PiRC1 progress. Design Pillars Token Design Token name, symbol & total supply Initial distribution ratios Vesting & unlock schedules PiPower System Engagement-based allocation weight Lock-up duration bonus multiplier Anti-Sybil PiPower calculation Liquidity Minimum LP provision requirement Liquidity bootstrapping pool (LBP) option Token sale proceeds go into permanent liquidity pools Governance Community RFC via GitHub Issues Core Team ratification process KYC-integrated accountability Timeline Event ------- PiRC1 design documents published by Pi CTO (Nicolas Kokkalis) Community RFC process started — GitHub Issues open Pi Launchpad launched on Testnet (Pi Day 2026) PiRC1 Enforcement Phase activated — tokens must be backed by real apps Pi Launchpad Mainnet launch
- •PiRC1 is Pi Network's official ecosystem token framework; Pi Launchpad launched on Testnet on March 14, 2026
- •PiRC1 Enforcement Phase activated June 2026 — tokens must be backed by real, functioning apps
Jul 27, 02:59 AM
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