The sun shines on Ordinals, detailed explanation of Runestone airdrop rules

2024-03-05 15:00

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Runestone’s airdrop rules basically cover all active Ordinals users, which is a very meaningful user group screening.

Original author: xiyu, crypto KOL

Editor’s note: On March 3, Ordinals developer Leonidas posted on the social platform that earlier that day Runestone The largest block in Bitcoin history was mined, reaching 3.97 MB. It also said that the next step in the airdrop process will begin soon. Today, the highest transaction price of Runestone OTC has reached the $1,300 range. What is Runestone? How is its airdrop mechanism? Why is it said to be one of the most potential Bitcoin ecological projects? Crypto KOL xiyu gave a detailed introduction to Runestone on X, and BlockBeats reproduced the full text as follows:

What are Ordinals?

Ordinals refer to a unique way of sorting and creating Satoshis A system that produces the non-fungible attributes required for NFT. Simply put, Ordinals assign a specific number to each Satoshi to distinguish it from other Satoshis. This numbering system ensures that each satoshi has a unique identifier. The inscription represents the actual content attached to the satong.

What is Runes?

Runes is a new protocol developed by Ordinals founder Casey. The release of the fungible token FT was first posted on Casey's personal blog. It is expected to be online at the time of Bitcoin halving, which is the height of #Bitcoin block 840000.

Ordinals substituted inscriptions into the Bitcoin ecosystem. #Brc-20 created a centralized currency issuance mechanism in the form of index characters, which made the original development The Ordinals protocol for NFTs is overwhelmed. However, as a decentralized Ordinals, even the founder cannot make Brc-20 disappear. Ordinals founder Casey has repeatedly expressed his dissatisfaction with Brc-20, which takes up a lot of inscription numbers, takes up a lot of Bitcoin volume, and meme The currency does not bring much positive benefits to the ecology.

So Casey proposed a new solution, Runes. The main purpose of the Runes protocol is to define a method for symbolic asset exchange on the Bitcoin network. It uses Runes as the unit of tokenized assets and UTXOs to represent Rune balances.

Protocol messages in the protocol are delivered through the output of the transaction and follow specific formats and rules. Protocol messages can contain two types of operations: transfer and release.

Whether Runes currency issuance should exist, Casey himself said that he does not know, but this currency issuance standard is more native than Brc-20 and can attract developers. On to the Bitcoin chain, that’s why Runes was created.

What is Runestone?

The initiator of Runestone is Leonidas, an early Ordinals player. The Runestone project is an open source, transparent, spontaneous and decentralized initiative designed to reward those who Players who participated in the first year of the Ordinals protocol.

The mission of this project is to fairly allocate Runestone based on the address’s activity on the chain. The specific reference snapshot is the activity before block height 826,600, which happens to be It was the height of Ordinals one year after its release.

Runestone will initially be distributed as Inscriptions, with the vision being that everyone, whether wealthy or ordinary Ordinals collectors, will receive only one Runestone Inscription. In practice, although this goal is difficult to fully achieve, we should still strive to pursue it.

After the Runes protocol is released at block height 840,000, Runestone inscription holders will organize and distribute Runestone Rune according to the number of Runestone inscriptions held.

Afterwards

Runestone inscriptions will be available as collectible mementos for first-year Ordinals supporters exists without any practicality or development path.

Runestone Rune will exist as a social/cultural/meme/speculative currency, and it also has no practicality or development route.

The Runestone project not only embodies the innovative spirit of blockchain technology, but also represents the persistence of the principles of fairness, transparency and decentralization. Through this novel distribution method, Runestone provides a unique reward mechanism for participants of the Ordinals protocol, while also providing a valuable practical example for the entire cryptocurrency community.

Airdrop rules

Bitcoin block height before 826600:

1. Have at least 3 inscriptions

2. Do not include inscriptions whose file type starts with "text/plain" or "application/json" (such as "text/plain;charset=utf-8 "Inscription)

3. Contains curse inscriptions that can be retrieved by sequence number. To check whether it is eligible for air investment, you can enter your own address on the #OKX page: https://okx.com/cn/web3/toolkit/ btc-airdrop

Airdrop fairness

The distribution of Runestones is very fair. The fair delivery is distributed equally, and as long as there are more than three, one airdrop will be given. The Runestone Whale will not appear due to holding too many inscriptions.

Fair delivery is verifiable. The standards are public, and the index of the inscriptions is also public and can be verified by everyone.

Fair delivery is unpredictable. No one expected this airdrop rule, and no one prepared in advance just to get rid of the wool.

Prospects

Before 840000:

1. Runes airdrop rules are very strict, excluding not only inactive small retail investors but also giant whales.

Yesterday's poll on Twitter received 500 votes. About half of the people only had 1 rune stone, followed by 2-5, 2-5 It may be that different wallet software is used in turn, so it is eligible for air investment.

2. #Bitcoin NFT in the market cap header, #node Monkey 8000BTC, #quantumcat 1000BTC, #frog 2100BTC.

3. Airdrop expectations

We know that Runestone’s airdrop rules basically cover all Ordinals active users, this is a very meaningful user group screening. If other projects want to do similar things in the future, they only need to airdrop to Runestone to achieve the same scale. You can even set conditions for another round of screening.

That is to say, holding Runestone also has the expectation of receiving an airdrop.

After 840000:

1. If there are no special surprises, Runes will be the key currency issuance protocol in this bull market, just like Ordinals’ status in Bitcoin NFT. Other protocols have more or less technical flaws or imperfect infrastructure. Runes relies on the users and influence of Ordinals to quickly complete infrastructure construction.

Runestone is an early Runes builder and by far the largest user group, and will occupy a certain market share in this track.

2. After Runestone is replaced with tokens, the goal is to become the first meme of Runes. Compared with the market value of several existing memes, Doge is US$28 billion and Shib is US$25 billion. USD, PEPE $3.3 billion.

The market value of Runestone is US$150 million based on the current over-the-counter price, which means there is huge room for imagination.

Summary

The largest community, the largest airdrop, the largest number of addresses, currently The popular Bitcoin NFT is the most promising upcoming Bitcoin ecological project. From the off-site price, we can see that it was 400 last Wednesday, around 800 a few days ago, and 1,400 today. The market performance is still very optimistic.