Original | Odaily Planet Daily

Author | Asher

At 8:10 this morning, BTC completed its fourth block reward halving at block height 840,000, reducing the block reward from 6.25 BTC to 3.125 BTC. Normally, with the halving of BTC mining rewards, miners' earnings would be affected. However, due to users "crazily" forging runes, the average earnings per block for a time were 20 BTC, more than double the actual earnings before the halving. For miners, BTC's short-term mining rewards not only did not halve, but doubled…

Actual mining income after the halving of BTC mining rewards

Next, Odaily Planet Daily will start with the highly popular rune projects across the network and take everyone to experience their popularity.

The urgency before the halving of Bitcoin: Eagerly preparing to participate in rune projects

In April, due to the "big event" of BTC halving, the Bitcoin ecosystem undoubtedly became the focus of the market. Among them, the hottest topic is undoubtedly the concept of Runes. In the Runes protocol, which has not yet been launched on the mainnet, nearly 20 infrastructure platforms providing forging, trading, and other services have already appeared. It is worth noting that UniSat Wallet and OKX Web3 Wallet will also support the rune market for the first time.

Image source: Doggfather

For a time, all the top players participating in the forging of runes were fully preparing for the forging of runes. Therefore, rune forging tutorials can be seen everywhere in the community, divided into various question tutorials such as "Why prepare a wallet?", "Which wallets to prepare?", "Why prepare utxo?", "How to prepare utxo?", "Splitting utxo/wallet tutorials", etc. The discussion in the community continues to heat up, fearing to miss this rare "get rich quick" opportunity.

Discussion on rune-related topics

The frenzy during the halving of Bitcoin: The entire network is forging rune projects

With the halving of Bitcoin, the entire BTC network is participating in various rune projects, causing gas fees to skyrocket. Due to the extremely high popularity, many friends first withdrew from the exchange to the BTC network to participate in rune projects. Although it took some time for BTC to successfully transfer to the BTC network, the amount received was significantly different from the amount transferred, and in some cases, it was only a fraction of the transferred amount. The image below shows the real feedback from the first time withdrawing from the exchange to the BTC network.

Extremely high withdrawal fees

Even though several hours have passed since the halving of Bitcoin, the gas fees on the BTC network remain very high. Currently, it costs nearly $300 in network fees to withdraw from OKX to the BTC network (as shown in the image below).

Current withdrawal fees from OKX to the BTC network

For those friends who had already prepared "bullets" in their wallets to participate in rune projects, they also suffered heavy losses due to the excessively high gas fees on the BTC network.

So, what rune projects is the entire network participating in? According to the project's popularity, Odaily Planet Daily has summarized the following:

• UNCOMMON•GOODS: No pre-mining, deployed by Ordinals founder Casey;

• Z•Z•Z•Z•Z•FEHU•Z•Z•Z•Z•Z: 99% pre-mining, deployed by Bitcoin Rollup project FehuLayer;

• DECENTRALIZED: Fully mined by the project party for airdrops, deployed by NFT project CyberKongz;

• DOG•GO•TO•THE•MOON: All airdropped to Runestone holders, deployed by Ordinals developer Leonidas;

• THE•RUNIX•TOKEN: Fully mined by the project party for airdrops, deployed by Bitcoin L2 project BVM;

• DOG•DOG•DOG•DOG•DOG: Fully mined by the project party (unknown);

• SATOSHI•NAKAMOTO: 20% pre-mining (project party unknown);

• MEME•ECONOMICS: 20% pre-mining (project party unknown);

• RSIC•GENESIS•RUNE: Fully mined by the project party and reserved, deployed by Runecoin;

• LOBO•THE•WOLF•PUP: All airdropped to Runestone and Rune Door holders, deployed by Buoyant Capital.

With the launch of rune projects alongside the halving of BTC, holders of Runestone runes may be the biggest beneficiaries. According to the latest news, four of the top ten rune projects will airdrop to Runestone holders, namely:

• Z•Z•Z•Z•Z•FEHU•Z•Z•Z•Z•Z: Airdrop to ORDI, Runestone, RSIC holders (snapshot taken on March 26);

• DOG•GO•TO•THE•MOON: Airdrop of 889,806 DOG tokens to each Runestone holder;

• LOBO•THE•WOLF•PUP: All airdropped to Runestone and Rune Door holders;

• DECENTRALIZED: Airdropped 5000 NFTs to Runestone holders.

Currently, the community of Runestone holders is lively, with members speculating on "which rune project will be the next to announce an airdrop to Runestone holders."

Odaily Planet Daily reminds investors participating in rune projects to be cautious of the current high gas fees on the BTC network and not to blindly participate.

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