Current status is "crafting and merging". You're welcome to join!
100 card format, only one copy of each card, except for basic lands.
All cards in the deck, aside from the special ones and the Commander(s), need to be commons.
Deck must contain 8 special cards, which need to be uncommons (8/100 keeps the proportion of 5/60 from regular Peasant).
Any legendary creature or planeswalker as your Commander. 2 cards can be used if both have Partner [this takes the format really close to regular EDH, but adds a little flavor from Brawl with the idea of using Planeswalkers].
All cards MUST belong within the commander's color identity.
Card rarity includes both online and paper rarities. A card only needs a single "printing" (online or paper) at a rarity to be valid (check Scryfall if in doubt).
Peasant commander is played just the same as regular commander (see rules here), but uses 30 life and 16 commander damage (inheritance from Pauper Commander / Brawl, to keep the game fast enough).
The following cards are banned in Peasant Commander:
All cards that refer to the ante mechanic (full list here)
All cards that Wizards has removed from constructed formats (full list here)
All cards with the Conspiracy card type (full list here)
Original Peasant banned cards are entirely unproblematic in a singleton format [8 cards should be diluted enough among 98/99 cards]. Still, there are understandably some cards worth being on the watch list:
The following commanders are banned from regular commander, though we don't inherit these bans, they're on our watch list.
As in other similar formats, the rules are the common ground to stand on when meeting new Peasant Commander players.
"House rules" are encouraged to keep the fun, but It is important for a format to have clear and official rules and to avoid fragmentation.
If you and your group have good ideas, you're more than welcome to share your thoughts and discoveries to improve the format ;)