So... What is Runes?
Runes is a proposed fungible token protocol for Bitcoin created by Casey Rodamor, the creator of the Ordinals protocol, and could potentially help scalability and blockchain bloat.
Runes eliminates the need for a native token for operations, better aligning with Bitcoin's ethos of simplicity and decentralization and makes the protocol more accessible to the users.
https://t.co/e35DHNEyN6
Casey Rodarmor has set the official launch of the Runes protocol to begin indexing at the next BTC mainnet halving (estimated block height of 840,000, around the end of April 2024).
Difference from Ordinals - BRC-20 Standard
Runes present a simpler and more efficient alternative to the BRC-20 standard for fungible tokens. While BRC-20 tokens are associated with addresses, Runes take a different approach by embedding token records directly into Bitcoin’s unspent transaction outputs (UTXOs).
The Runes proposal suggests a different mechanism of tokenization that could alleviate some of the bloating issues.
Projects that I'm bullish on
1. Runestone by @LeonidasNFT
Runestone Airdrop was held under following eligibility
A valid address for the Runestone airdrop should hold inscriptions at Block 826,600. To be more specific, it should:
1. Hold at least 3 inscriptions
2. Not include the inscriptions with file types starting with either “text/plain” or “application/json” (for example, the“text/plain;charset=utf-8” inscriptions aren’t included)
3. Include cursed inscriptions indexed by ord
Leonidas confirmed that
1 RUNESTONE = 3 RUNES MEMECOIN AIRDROPS
Floor price 0.075 BTC with total vol. of 2.25k BTC
Runestone is by far the most well-known and hyped of the pre-Rune projects.
https://t.co/7IJ6BrX3KH
2. RSIC METAPROTOCOL @rune_coin
RSIC is one of the earliest pre-rune projects.
Holders from Nodemonkes, puppets, pizzaninja, etc got airdrop 3 months ago.
To activate the RSIC, you needed to self-trasnfer to your own wallet.
Interesting thing is people are trading the mined balance on OTC market! Current price $0.028
https://t.co/MAVJw4xfZs
You can also check your mined balance
https://t.co/AXD7LehKgP
3. Runes Terminal @runes_terminal
First Runes related infrastructure provider product!
They are also building @runespad which is Runes launch pad alongside RunesScan, RunesEtcher and RunesBook.
Few days ago they launched freemint of APE ordinals which is a gateway to their ecosystem and also have allocation of their upcoming token $RUNI
If you are looking for an APE, note that there is rarity related with $RUNI airdrop allocation
https://t.co/ZiBZBqt2Bs
and this is a nice thread by @peddy2612 from the Runes Terminal team!
https://t.co/6XYPkU3ZtH
About UTXOs
One last important thing!
For the upcoming Runes season, make sure to prepare enough UTXOs for minting.
A UTXO is a specific amount of bitcoin that you’ve received but not yet spent.
Think of UTXOs as individual physical bills in your wallet, each with a different value, much like using various bills to make a cash payment.
For example, a balance of 0.52 BTC in your wallet may consist of several UTXOs like 0.2, 0.15, and 0.17 BTC.
Each UTXO is distinct and can hold any amount of bitcoin.
They are the pieces of bitcoin you haven’t spent yet, and you use them to make new payments.
Preparing UTXOs guide by @const_quary
To mint runes as many as possible in the same block, you need to have your UTXOs ready.
There's a simple way to do that with @Magisat_io isolation tools.
Here are the steps:
1. Go to https://t.co/pQFdskATzN
2. Connect your wallet
3. Choose a large UTXO that you'd like to split into many smaller ones that you will use for minting
4. Press split and choose 100.000 - 400.000 sats ( your guess of how much a mint will cost is as good as mine )
5. Repeat, until you get enough UTXO
That's it!
I am very excited for upcoming Runes Season 👀
If you liked my tweet,
Please Like, RT, Save and tag your web3 friends 😊
@dexter_cap I tried to mint since I participated in the presale, but I didnt link my twitter. Can I still mint or did I have to both participate in presale and also participate in beta to be able to mint?
@3orovik why did you completely disregard the $Condom tags. All it took was for you to say you werent affiliated with the token for people to not lose thousands of dollars.