This document provides a detailed overview of the new standard for smart contracts on the Pi network, with a particular focus on recurring payments. Here is a breakdown of the key elements:

1. Technology: Soroban
This API is built using Soroban, which is a smart contract platform integrated into the Stellar network (the blockchain technology underlying the Pi network).
2. Main Functionality: Recurring Payments
The contract aims to automate and manage subscriptions. It offers a framework:
• Merchant Registration: How businesses list their services, set prices, and determine billing cycles (e.g., monthly or yearly).
• Subscriber Registration: How users sign up for these services, offering prepaid commitments or flexible arrangements.
• Automated Billing: How merchants use pre-approved token limits to periodically withdraw payments, meaning users do not need to manually approve each monthly transaction.
3. Community Involvement (PRC)
The term “Pi Comment Request” (PRC) indicates that this is a proposal currently open for community review. Pioneers (Pi users) and developers are invited to provide feedback, report issues, or suggest changes via GitHub until the standard is finalized.
4. Table of Contents
The bottom of the image shows the start of the technical breakdown, including:
• Introduction: The starting point of the technical specifications.
• Overview: The high-level logic of the system.
• Data Types: Definitions of the programming structures used.
• Error Codes: Troubleshooting information for developers.
Essentially, this image represents a significant step toward enabling practicality on the Pi network, allowing developers to directly build subscription models similar to Netflix or periodic service billing on the blockchain.

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