Crypto native (not ETF) bull market momentum has begun! (There are some tips for newcomers at the end of the article)
Focusing on the issuance of new BTC assets, as the BTC halving Runes mainnet is about to go online, "emotion + infrastructure + narrative" is constantly being improved, and the outbreak of the Runes track has become a well-known hot spot.
Emotion: Meme coin represented by Runestone has completed the convergence of Chinese and Western consensus!
Infrastructure : Casey continuously iterates the protocol, supports pre-mining of publicly engraved issuance methods, and lays a solid foundation for long-term, value narrative projects.
Narrative: The Runes protocol has become a consensus as the best FT standard for BTC. More projects are choosing to issue assets on the Bitcoin chain. BTC has great potential to become a global economic settlement center!
Author: MiXX/Tweet: @MixRestaking
Regarding the past and present of the Runes protocol, you can click to read this article 👇 "A brief introduction to the Runes protocol, its development process and the latest expanded discussion of the "public engraving" issuance mechanism"
1. Emotion: Runestone has become the calling card of the Runes track.
Leonidas defined Runestone Memecoin as a Meme rune in a high profile, and its Ordinals NFT airdrop reached a maximum of 0.055 $BTC, with a market value exceeding US$400 million.
After Runestone frequently broke out of the industry, more than a dozen concept projects were officially announced for airdrops. The qualification requirement for the whitelist is to have an address that has not placed an order with Runestone. This shows that Runestone is currently very popular and unprecedented.
➪ Let me make a digression: Leonidas’ social marketing ability is really “natural”. There is no deliberate planning, but it is surrounded by stars. I admire it very much.
👆 With such data (9:30 on March 26), he has already dominated the Runes track.
On the other hand, Casey hard-coded the runes 0 to 9 in the Runes protocol and specially designed the red envelope concept runes for Asian culture. This also made many people increase their BTC hoarding efforts and decided to join the Gas War and rush into the future. There is a wave of enthusiasm for the mainnet to be launched in late April!
The community of early infrastructure Rune Alpha has also become more and more cohesive. It has officially announced the launch of the RuneAlpha Chinese community Rune Alpha Chinese, and has launched various fission activities such as staking and points, which has the potential to dominate the market.
Details: https://twitter.com/runealpha_btc/status/1771092458870325655
2. Infrastructure: Under the well-known hot spots of Runes, various infrastructures are gathered together.
On March 12, Casey released Ord version 0.16.0. More importantly, on March 20, the protocol officially supported pre-mining in the open etchings scenario, and supported the binding of Runes assets to Ordinals inscriptions, and displayed them on the front end.
Details: https://github.com/ordinals/ord/pull/3311
This move is not taken seriously by most people, but it is precisely a key event that establishes the long-term value of the Runes Agreement!
Public engraving is to set parameters for the issuance method of Runes, such as specifying a block height or timestamp. Within the time period that meets the rules, how many assets the user mints will be the total amount of the runes in the end.
This feature of no reservation, no lock-up, first-come-first-served, allowing most people to fairly participate in the initial issuance of Token can be said to be the direct driver of this bull market! This shows its importance.
However, the issuance of projects using the public inscription method can easily lead to the dirty work of long-term construction being left unattended, and most of the assets can easily become Meme coins.
As mentioned before, the MEME project is the business card of the track and can attract a lot of attention in terms of emotions. However, after all, it is impossible for a track to be all Meme. In the long run, valuable projects and narratives are still needed to inherit the value of the Runes ecosystem.
On the basis of "public inscription", it supports pre-mining and binding Ordinals inscriptions:
1️⃣Let the project party have a certain Token reserve to motivate the core team and unite the community.
2️⃣Inscription NFT and Rune FT cooperate with each other to conduct multiple rounds of asset issuance, which can make community governance methods richer and more flexible.
3️⃣Prevent bad coins from driving out good coins: Issuers can choose and self-certify, and community members participating in mint can make a more comprehensive assessment.
In terms of ecology, two hot projects, Rune Alpha and Rune Mania Miner, the Runes protocol infrastructure, have officially announced their cooperation, which means that the infrastructure of the Runes ecology has begun to connect the ecology! If the newly added points function can be combined with Rune Mania Miner to hold activities and create a best practice for cooperation between more pre-mining projects, it will bring huge room for growth.
More infrastructure is also springing up:
🔹Xverse Wallet is the first to announce support for Runes testnet
Details: https://twitter.com/RunesCC/status/1768302451625755031
🔹 Runescan is produced by the Runes Chinese community and is positioned as the Runes track portal, providing the industry's only Runes track vertical content updates.
Details: https://www.runescan.net/
🔹Runes lending protocol Shell Finance helps everyone invest and consume more without selling assets. All operations of Shell Finance are performed on the first layer of BTC, and there is no need to bridge assets to the second layer.
🔹Welcome more track projects focusing on Runes~
3. Narrative: The Runes protocol has become a consensus, driving BTC to become a global economic settlement center
In fact, industry OGs no longer compare BRC20 and Runes together. The advanced nature of Runes technology and its homology with Ordinals make the Runes protocol the best homogeneous token protocol on the Bitcoin chain. consensus.
🔹Quark Duck, which was originally only based on the Atomics protocol, officially announced that it will pre-mine runes in both ARC-20 and Runes formats.
🔹The first rune of BTC Layer2 Merlin Chain $RUFI is launched, representing BTC Layer2’s focus on new assets
Details: https://twitter.com/UniCrossGlobal/status/1770450705247338903
Furthermore, the Bitcoin chain is not only the direct settlement layer of the blockchain, but also the blockchain with the greatest potential to become a global economic settlement center. This is a big topic. I will share it at the Hong Kong event, so I won’t mention it for now.
Finally, some suggestions are provided:
1️⃣ It’s the most painful thing to stock up on Bitcoins at low prices without bullets.
2️⃣ When the Runes protocol mainnet was launched at the end of April, there were 10 publicly engraved runes hard-coded into the protocol. Now the concept of red envelopes is very interesting, and we do not rule out the emergence of more interesting concepts.
3️⃣ RICS, Runestone and RuneAlpha, all current hot projects are essentially futures and need to wait for the mainnet to go online before doing airdrops.
4️⃣ We open a new group in about 2 to 3 days. The most frequent question is: When will the Runes protocol issue coins? Which rune is the token of Runes? 👈Click to view the original source
5️⃣ Follow the Runes Chinese community, join the group to communicate, and get daily market trends and the most timely Runes news.
Disclaimer: This article is for reference only and may not be used as legal, tax, investment, financial management or any other advice, and does not represent the position of RunesCC.
