🆘 PI ANNOUNCES SMART CONTRACT 🚀🚀🚀 1. A New Milestone in Smart Contracts Pi Network officially introduces its first smart contract capability on the Pi Testnet, focusing on a subscription-based membership model. This is a crucial step toward bringing real-world services—such as e-commerce, online streaming, and digital tools—into the Pi ecosystem. 2. Intelligent Operation Mechanism This smart contract solves one of blockchain’s toughest challenges: enabling recurring payments while preserving user control: - One-time approval: Users set a budget limit and duration (e.g., monthly payments for one year) without needing to re-sign for each billing cycle. - No fund locking: Funds remain in the user’s wallet rather than being locked or transferred upfront. Transactions execute only when due, provided the wallet has sufficient balance. - Full user control: Upholds Web3’s core principle that users retain complete ownership and control over their assets. 3. Technical Differentiation Unlike other blockchains (such as Ethereum with EIP-1337 or ERC-4337, which often require complex infrastructure or off-chain signatures), Pi’s model prioritizes simplicity, reduces friction, and eliminates the need for pre-funding the contract. 4. Testing Phase and Feedback (PiRC2) PiRC2 (Pi Request for Comment): Pi Network has published the technical documentation for PiRC2, inviting developer communities to review, identify bugs, and provide feedback. Testing: Alongside community evaluation, this smart contract is also undergoing external audits to ensure security before deployment to Mainnet. 5. Significance for Developers Developers can now begin testing recurring payment business models on the Testnet via the RPC server, preparing to build practical, sustainable applications on the Pi network.