How pi2pi works
pi2pi replaces paper rental contracts and rental-agency middlemen with a smart-contract protocol. Tenants and landlords agree on terms directly, sign on-chain, and settle everything in USDC — deposits, monthly rent, and dispute outcomes.
The five steps
- Find a listing. Browse available properties in the pilot markets in the app.
- Negotiate in chat. Tenant and landlord discuss terms using pi2pi's built-in chat before committing to anything on-chain.
- Sign the agreement on-chain. Both sides sign a rental agreement and post their deposits to a smart-contract escrow (RentalEscrow). No signature, no funds move.
- Pay rent monthly in USDC. Recurring rent settlement runs through the protocol, not through a bank transfer to a landlord's personal account.
- Lease end. The contract releases deposits according to its rules: back to each side at a clean checkout with no damage claim, or through the protocol's bond-and-freeze dispute process if a claim is raised.
What's actually locked in escrow
pi2pi uses a symmetric "equal stakes" deposit model — both sides put something at risk, not just the tenant:
| Deposit | Who posts it | Amount |
|---|---|---|
| Commitment Deposit | Tenant | 1× monthly rent |
| Hosting Deposit | Landlord | 1× monthly rent |
| Property Security Deposit | Tenant (optional) | 0–3× monthly rent |
The agreement lifecycle
Every agreement moves through a fixed on-chain state machine, enforced by the RentalEscrow contract:
Created → AwaitingLandlordDep / AwaitingTenantDep → Active → CheckoutProposed / EarlyTermProposed → DamageClaimed → DisputeOpen → Settled
An automated enforcement bot (the "keeper") watches deadlines on-chain and triggers the permissionless contract actions those deadlines allow: flagging missed rent, executing an unanswered damage claim, expiring an unposted bond, releasing funds after an expired dispute freeze. It does not pay rent or move funds on your behalf — you still send your own rent and deposit transactions; the keeper only enforces what happens when a deadline is missed. See Security for details.
No fees, no token
pi2pi charges zero platform fees and zero commissions. There is no pi2pi token and no plan to launch one. The protocol's revenue model is a yield spread: while a deposit sits in escrow it can be routed through ERC-4626 yield adapters (Aave, Morpho), with yield split 70% to the tenant/landlord and 30% to the protocol treasury. The contract's escrow accounting tracks what each party is owed separately from the yield strategy's performance; this design has not been independently audited or stress-tested against an adapter loss scenario.
Wallets
pi2pi uses Circle Programmable Wallets with WebAuthn/passkey login — no seed phrases to write down or lose. MetaMask and WalletConnect are also supported for users who already have a wallet.
Current status
pi2pi runs on Arc Testnet (chain ID 5042002), not mainnet. The steps above are implemented in the app and contracts and used for pilot testing. Infrastructure and the main public surfaces were operating, but full production end-to-end testing of financial and contract workflows has not been performed. See Security for what has and hasn't been verified.