Runestone, the Bitcoin Ordinals project led by pseudonymous NFT historian and Ordinals collector Leonidas, is preparing to launch its first airdrop.
The Runestone project is generating a lot of buzz because of its pedigree. Leonidas says this is a pre-Lune project that showcases Casey Rodarmor’s vision for Bitcoin’s fungible tokens. There’s also a potential financial windfall for Runestone holders once they see the entire Rune. The protocol will come online after the Bitcoin halving later this year.
Runestone ordinal inscriptions are being traded higher on exchanges like whale markets in anticipation of events. Despite the limited number of runestone inscriptions, the current pre-market low price on the Solana-based decentralized OTC Whale Market website is $545.
“This is a decentralized, 100% volunteer effort. I tweeted the idea last month to conduct a large airdrop to reward the Ordinals community for its first anniversary,” Leonidas said. decryption. “There is no team assignment, no substance behind it, no usability, no roadmap.
“More than 10 companies in the Ordinals ecosystem contributed funding, engineering resources, etc. to make this happen,” he added.
The Ethereum ecosystem airdropped $25 billion during the last cycle.
Now it’s Bitcoin’s turn.
Regular airdrop season is here.
— Leonidas (@LeonidasNFT) February 20, 2024
To check if an address is eligible for airdrop, users must copy their Bitcoin address into the Runestone airdrop interface.
“Valid addresses for Runestone airdrops must have an inscription in block 826,600,” explains the Runestone page on the OKx exchange website.
The rules for Runestone airdrops include having at least three inscriptions, not including inscriptions in file formats starting with “text/plain” or “application/json”.
Leonidas said Runestone’s logic is simple.
“The primary use case for blockchain today, though not forever, is ‘number growth.’ The most honest form of ‘number boost’ is a meme coin, not a utility,” Leonidas tweeted on Thursday. “The world’s best blockchain should have the world’s best meme coin. The world’s best meme coins should be distributed through massive free airdrops without assigning teams to the most established communities.”
112,383 addresses qualified for the Runestone airdrop. According to Leonidas, each address is given one runestone.
Eligible inscriptions also include the so-called cursed inscriptions indexed by Ord. Cursed ordinal numbers, also known as cursed inscriptions, refer to ordinal numbers that were originally overlooked by the Ord indexer and do not appear in wallets and markets. Cursed ordinal numbers take on negative numbers until they are resolved.
According to NFT marketplace Magic Eden, there are currently over 74,000 cursed inscriptions.
“The original version of the Ordinals indexer did not capture this. In the latest version, yes.” Leonidas previously said: decryption. “The problem is that because of the inscription numbers, having them captured in the new version changes the order of the previous inscription numbers,” he said, explaining that the solution is to swear at the inscriptions or give them negative numbers.
The name Runestone is intended to position the project firmly within the highly anticipated Runes fungible token standard from Rodarmor, the original creator of the Ordinals protocol. Leonidas confirmed that Runestone is part of the Runes ecosystem, but is not yet a Runes token.
“The Runes ecosystem is currently the core protocol of Casey, with companies building an explorer, DEX and wallet to support it, as well as a pre-Runes project with plans to launch Runes tokens once the protocol is launched,” Leonidas explained. “Runestone is a pre-rune project where runestone imprints that people receive through airdrops will be converted into rune tokens according to Casey’s rune protocol when it is released in 8 weeks.”
“A rune is not a rune until the protocol is actually dropped and the first rune token is actually created on the chain,” Leonidas previously stated.
He was responding to the group behind the unrelated Runecoin project, which delivered 21,000 RSIC inscriptions to the Ordinals community in January.
“@rune_coin’s RSIC airdrop scheme is really neat and I hope airdrops to the Ordinals community become a trend, but this type of marketing needs to be highlighted,” Leonidas tweeted at the time. “It is definitely not the first Rune on Bitcoin… No project should make such a claim until the Runes protocol is launched and we actually have the first Rune token on Bitcoin.”
