Asset issuance method - What is the biggest change in runes compared to inscriptions?

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言忱
half a month ago
This article is approximately 728 words,and reading the entire article takes about 1 minutes
Runes changed the way assets were issued with Inscription Fair Launch, bringing innovation and concerns.

Original | Odaily Planet Daily

Author | Fan Jiabao

For traders who want to participate in the Rune ecosystem, in addition to various technical innovations, the biggest change in the Rune ecosystem compared to the Inscription ecosystem is the unique pre mine gameplay of the Rune project. Compared with the original Inscriptions fair launch, the community naturally has mixed opinions on this change.

Three ways to issue assets

Since the Runes protocol is a development of the Ordinals protocol, before the Runes protocol was officially launched, asset categories such as Runestone and RSIC were formed to seize the opportunity and build on the original protocol.

In this way, we can divide the asset issuance methods of the Runes ecosystem into three categories, and use the more popular runes on the market as examples to introduce them.

Preemptive + Fully Reserved

The pre-mining ratio of the third rune DOG•GO•TO•THE•MOON is 100%. The Runestone project announced that all Runestone NFTs can obtain 889,806 DOG•GO•TO•THE•MOON runes (rune No. 3).

It is worth noting that after Runestone NFT completed the snapshot today, it fell by more than 60% in a short period of time. Whether Runestone can continue to be the golden shovel of the Bitcoin ecosystem will require more time to test.

The pre-mining ratio of the eighth rune RSIC•GENESIS•RUNE is also 100%, and it will be airdropped to RSIC NFT holders.

Fair Launch

The project party of this type of project reserves 0%, and its asset issuance method is closer to the Fair Launch model of Brc-20.

Among them, the most eye-catching is the rune numbered 0 (Rune No. 0) UNCOMMON•GOODS, which was deployed by Casey himself.

The asset issuance method of Rune 0 is more similar to Binance IEO. The initial popularity is very hot. As the supply increases and the market enthusiasm recedes, it will present a situation of double killing of quantity and price. Rune 0 can be understood more as a commemorative banknote issued in large quantities. Although it is full of commemorative nature, due to its sufficient supply, it will lose the ability to continue to hype in the market.

The pre-mining ratio of the rune ORDINALS•ARE•DEAD (inscription is dead) issued on the Runes protocol is 0%, and the pre-mining ratio of the rune MEME•ECONOMICS (meme economics) is also 0%.

Pre-mine (partially reserved):

The Rune project will reserve a portion of this type, and the rest will be left for open mint by traders who wish to participate in the Rune ecosystem.

For example, the pre-mining ratio of the sixth rune SATOSHI•NAKAMOTO and the seventh rune MEME•ECONOMICS is 20%.

in conclusion

The Runes protocol is another advancement in the Bitcoin ecosystem. Considering the timing of Bitcoin halving and the launch of the Runes protocol, the inscription is undoubtedly an immature form of runes.

The launch of Rune in 2023 was very topical. The 2023 Rune Summer made many participants miss it very much. Rune continued the popularity of the Inscription ecosystem and met everyones expectations, so that the block reward for miners when Rune was launched reached an astonishing 30 Btc.

However, Rune is based on the utxo model, and the data is stored in the transaction note OP_Return. However, due to the limited space of the transfer note, what Rune can do will not change compared to the inscription. The current role of Rune Protocol is probably to issue coins.

Compared to the highly recognizable and viral meme-like social attributes of the four-letter inscription (Ordi, Sats, Rats), the separators and excessive letters of the rune undoubtedly weaken its social attributes. According to Casey’s own design, the four-letter code or even less will be launched before the next halving. This is undoubtedly a design solution that is more conducive to the healthy development of the Rune Protocol, but it is bad news for the Rune Protocol and Rune Token, which are in urgent need of recognition.

The issue of liquidity is still the biggest pain point for NFT-like assets such as runes. When the market falls, the market loses liquidity, and investments cannot be launched. The sword of Damocles still hangs over the rune market after severely hitting the inscription market.

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