Runes Protocol Rises: Quickly Understand the Principles and Projects Worth Watching
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Runes Protocol Rises: Quickly Understand the Principles and Projects Worth Watching
The launch of Runes provides an excellent opportunity to engage with a vast new ecosystem.
Navigating Web3 tides with focused insightsWritten by: AlΞx Wacy
Translated by: TechFlow
Previously, my shared $STAMP yielded a 900x return, and earlier BRC20-related tokens I discussed generated 300x gains.
Now, here's a new opportunity to capture 1000x within the $BTC ecosystem—Runes.
Many may have overlooked the growth of the $BTC ecosystem, which has expanded significantly over the past year to include critical infrastructure, diverse sectors, and numerous projects.
Bitcoin is no longer just a token or financial instrument—it has evolved into a vast ecosystem.
Moreover, this ecosystem’s development has been significantly influenced by Ordinals and BRC-20, which I discussed last year.
Stamps (SRC-20) already have a strong community, recently highlighted in a Binance article.
These ecosystems have delivered substantial profits for early adopters.
For example, spending $10–$50 in gas fees to mint 100,000 $STAMP, then selling them 5–7 months later for $10,000–$20,000.
Today, I want to share the Runes protocol created by @Rodarmor.
Runes: A new fungible token protocol on Bitcoin introduces a novel method for issuing fungible tokens directly on the Bitcoin network.
Developed as an alternative to the BRC20 standard, the protocol aims to simplify token creation and management while seamlessly integrating with Bitcoin's existing infrastructure.
In his blog, @Rodarmor describes Runes as a simple protocol with minimal on-chain impact and responsible UTXO handling.
UTXO (Unspent Transaction Output) refers to individual units of Bitcoin value linked to addresses on the blockchain, representing unspent funds available for new transactions.
Runes differs from the BRC-20 token standard, which is not UTXO-based and results in excessive "junk" UTXOs that congest the Bitcoin network.
Runes aims to replace the less efficient Ordinal-based BRC-20 token standard.
Additionally, the Runes protocol seeks to surpass other existing fungible token protocols on Bitcoin, such as RGB and Taproot Assets, which rely on off-chain data.
For deeper technical insights, refer to the official blog.
The genesis Rune is hard-coded and named UNCOMMONGOODS.
Casey only hard-coded the first Rune. Therefore, Runes numbered from 1 to 1,000 are likely to be minted by major Bitcoin mining companies such as Foundry or Marathon.
The genesis token UNCOMMONGOODS will begin minting at the halving block and conclude during the next halving event (four years later).
This token is indivisible, has no decimals, and each free mint/claim grants you exactly one token.
The Runes protocol will launch on April 20, coinciding with the Bitcoin halving.
Currently, many Ordinal projects are in the “pre-Runes” phase and will distribute Rune airdrops to their holders.
Furthermore, the Runes ecosystem is actively being built, with various projects, launchpads, tools, and more emerging rapidly.
Now, let’s dive into some notable projects, including those still in early stages.
Runestones
A key OG project is @LeonidasNFT's Runestones.
Initially, these Ordinals were distributed as giveaways to active community members.
It later transitioned into one of the pioneering projects in the “Pre-Runes” phase and is poised to become one of the most significant OG projects in the Runes ecosystem.
Recently, @LeonidasNFT announced that Runestone holders will receive three meme Rune airdrops.
Within just a few weeks, Runes became a hot topic, with Runestones acting as a primary catalyst across the community—and momentum shows no signs of slowing.
Many projects have drawn inspiration from this, announcing Rune airdrops for their holders. Infrastructure development is underway, with much more in progress.
The Runestones project is undoubtedly full of promise!
Runecoin ($RSIC)
These Ordinals allow users to mine tokens when Runes launches.
21,000 RSIC miners were airdropped to over 9,000 wallets holding various Ordinals collections, details here.
Essentially, you can purchase an RSIC miner, join a mining pool, and start mining tokens intended for use with Runes.
RSIC is currently traded OTC on @WhalesMarket.
With its recent addition of a “Runes” section, I expect many exciting releases ahead.
Pups ($PUPS)
This project has gained broad recognition and is currently in the Pre-Runes phase.
Current supply: 10 million.
7.7 million tokens are available for purchase on @unisat_wallet or @JupiterExchange. These will be used to purchase Pups Runes on April 20.
2.3 million tokens will be airdropped to Rune Pup Ordinal holders (available via ME). Each Rune Pup can burn approximately 210 Pups.
When the total market cap of Runes reaches $1,000,000,000, tokens will be burned and redeemed at a 100:1 ratio.
RunesTerminal ($RUNI)
Runes Terminal provides tools for token launches and distribution, including a browser called RunesScan and a launchpad.
The project aims to enhance accessibility to DeFi, NFTs, and RWAs on the BTC platform using the Runes Token Standard.
Products include:
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RunesScan
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RunesBoard
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RunesEngraver
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RunesBook
As the core utility token of the Runes Terminal community, $RUNI grants exclusive access to architectural features and investment opportunities within the innovative Runes Protocol.
The project will launch soon and appears to be a promising piece of infrastructure.
More Pre-Runes Projects
Due to the Ordinals community's growing excitement around Runes, many projects have begun announcing Rune airdrops for their holders.
Thanks to support from @MagicEden, tracking these projects has become easy.
MagicEden has added a new label showing all confirmed collections set to distribute Runes to holders—all conveniently centralized in one place.
So how should we participate? Here are some actionable steps:
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Download @XverseApp / @unisat_wallet
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Deposit some $BTC
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Purchase pre-Runes projects on @MEonBTC
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Wait for post-halving meme Rune airdrops
Choose projects you believe have lasting strength and sustainable growth potential. After the Runes launch, Ordinals may experience increased volatility.
Given the large number of projects, I’ve listed below a few worth considering to save your time:
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@btcordinal: Building an MMORPG using Ordinals. $ZBIT is their BRC-20 token; it will migrate to Runes upon protocol launch.
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@OpalBTC: Building a robust ecosystem on Bitcoin powered by $BLIF
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@InventOnBTC: An upcoming crowdfunding platform built on Bitcoin
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@RuneX_Tech: Pre-Runes mining
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@lfg building a Runes DEX; mystery Runes will be airdropped to $LFG holders.
My Thoughts
The launch of Runes presents an excellent opportunity to engage with a massive new ecosystem.
Two key tracks to watch:
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Infrastructure (a critical component of any ecosystem)
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Memecoins (a key driver of community growth)
I expect both tracks to perform strongly, as fundamentals and memes consistently hold value.
Deciding whether to buy Ordinals for airdrops is a personal choice.
Remember, it's optional—many powerful new projects will launch directly on Runes, offering participation without prior commitments.
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@wacy_time1
