Runecoin (RSIC•GENESIS•RUNE) is a decentralized cryptocurrency on the Bitcoin network. It is enabled by the Runes Protocol, the leading standard for fungible tokens on layer one Bitcoin, built by Casey Rodarmor, the founder of Ordinals. Runecoin’s mission is to bootstrap adoption, education and innovation of Ordinals, Runes and Bitcoin.
Runecoin pioneered a novel distribution mechanism for Runes (tokens) prior to the release of the Runes Protocol, with the first Ordinals “pre-rune”, allocating rune tokens to holders of 21,000 Ordinal inscriptions (called RSICs) that were airdropped for free. The RSICs digitally mined runes till the 20th April 2024, the day of Bitcoin Halving. This approach quickly became a popular meta in the Bitcoin and Ordinals space and was replicated by many other projects, helping to foster a vibrant ecosystem for runes when the protocol launched.
As the 8th Rune etched on the Runes protocol with the airdrop size of 888 Satoshis, it adds a touch of ‘luck’ by echoing the symbolic meaning of the lucky number 8 in Asian culture. Runecoin’s 21 billion token supply also pays tribute to Bitcoin’s famous 21 million ‘hard cap’.
Runecoin creates a unique opportunity for people to engage with Bitcoin, setting the stage for a more vibrant and user-centric ecosystem. This is a step towards a more decentralized and better future for
Bitcoin.
How does Runecoin (RSIC) work?
Runecoin is a decentralized cryptocurrency that inherits the properties of bitcoin itself. It works differently from cryptocurrencies, such as Ethereum, which have native applications and states. Instead, Runecoin can be sent and received via regular Bitcoin transactions and the Runes Protocol. Runecoin has already had a significant impact on the market for fungibles on Bitcoin due to its unique nature and innovative distribution model.
As a token based on the Runes Protocol, it uses Bitcoin’s UTXO model, which reduces the number of transactions required for transfer, simplifies management and offers streamlined alternative token standards. Broadly speaking, the Runes Protocol enables generation and management of tokens, enabling the creation, transfer and storage of fungibles on Bitcoin.
Runecoin Highlights
Runecoin has a supply of 21 Billion Tokens and 100% of the supply is in circulation. 21,000 ordinals (RSIC) inscriptions were airdropped free to collectors and early supporters of ordinals protocol on January 22nd, 2024. 90% of tokens were distributed to holders of these inscriptions.
Runecoin was etched as the #8 Rune on the halving block (840,000) and each airdrop transaction was 888 satoshis in size. It was the first large-scale airdrop on the Runes Protocol and has the highest number of token holders of any rune. The collection parent is inscription 126, from January 2023, the first month of Ordinals existence. This parent provides providence to RSICs and Runecoin, associating all inscriptions and runes with the earliest history of the ecosystem and those who built it.
Runecoin price and tokenomics
- Maximum supply of 21 billion tokens.
- Ordinals Airdrop: 90% of tokens were airdropped to historical holders of RSIC ordinals. RSICs were the first ever ordinals pre-rune collection on Bitcoin, and were airdropped free to early collectors and supporters of the Ordinals protocol. RSIC stands for Rune Specific Integrated Circuit, a digital version of the ASICs used in Bitcoin mining.
- Team allocation: 5% of the token is held by the team.
- Stakeland allocation: 2% of the token will be airdropped to more than 100,000 users of Memeland’s staking platform, Stakeland.
- Launch partners (Launchpool + MM) : 3% of tokens will be transferred to launch partners to facilitate further growth and adoption of Runecoin.
