Original | Odaily Planet Daily
Author | Fan Jiabao
For traders who hope to participate in the Rune ecosystem, in addition to various technological innovations, the biggest change in the Rune ecosystem compared to the inscription ecosystem is the unique "pre-mine" gameplay of the Rune project. Compared to the original "fair launch" of the inscription, the community naturally has mixed opinions about such changes.
Three ways of asset issuance
Due to the fact that the Runes protocol is a development of the Ordinals protocol, before the official launch of the Runes protocol, asset categories such as Runestone and RSIC, which are based on the original protocol, have been established.
In this way, we can classify the asset issuance methods of the Runes ecosystem into three categories, supplemented by the popular runes on the market as examples.
Preemptive + Fully Reserved
The pre-mining ratio of the third rune DOG•GO•TO•THE•MOON is 100%, and the Runestone team announced that all Runestone NFTs can receive 889,806 DOG•GO•TO•THE•MOON runes (Rune No. 3).
It is worth noting that after the snapshot of Runestone NFT today, the short-term decline exceeded 60%. Whether Runestone can continue the title of "golden shovel" in 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 reserve of this type of project is 0%, and its asset issuance method is closer to the Fair Launch mode of Brc-20.
Among them, the most eye-catching is the rune numbered "0" personally deployed by Casey, UNCOMMON•GOODS.
The asset issuance method of the rune No. 0 is more similar to the Binance IEO. It was extremely popular in the early stage, but with the increase in supply and the decline in market enthusiasm, it will present a situation of both quantity and price decline. The rune No. 0 can be understood more as a commemorative note with a large issuance. 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) on the Runes protocol is 0%, and the pre-mining ratio of the rune MEME•ECONOMICS is also 0%.
Pre-mine (partial reserve):
The project party of this type of rune will reserve a part, and the remaining part will be left for traders who hope to participate in the Rune ecosystem to open mint.
For example, the pre-mining ratio of the sixth rune SATOSHI•NAKAMOTO and the seventh rune MEME•ECONOMICS is 20%.
Conclusion
The Runes protocol is another advancement in the Bitcoin ecosystem. Looking at the time point of the launch of the Runes protocol overlapped with the halving of Bitcoin, the inscription is undoubtedly an immature form of rune.
The launch of the inscription in 2023 was a hot topic, and the inscription summer of 2023 made many participants extremely nostalgic. The rune continued the popularity of the inscription ecosystem, and everyone's expectations were full, to the point that the block rewards for miners at the launch of the rune reached an astonishing 30 Btc.
But based on the utxo model, data is stored in the OP_Return transaction note. However, due to the limited space of the transfer note, the things that the rune itself can do will not be much different from the inscription. The current role of the rune protocol is probably mainly focused on issuing coins.
Compared to the highly recognizable four letters of the inscription (Ordi, Sats, Rats) and the viral social attributes of meme, the separators and numerous letters of the rune undoubtedly weaken its social attributes. According to Casey's own design, four-letter codes or even fewer codes will be launched before the next halving, undoubtedly a design that is more conducive to the healthy development of the rune protocol, but this is bad news for the rune protocol and rune tokens that are in urgent need of recognition.
The issue of liquidity is still the biggest pain point for NFT assets like runes. When the market falls, the loss of liquidity in the market, and the inability to exit investments, is still hanging over the rune market after severely impacting the inscription market.
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