Runes vs BRC-20: why Runes could win, and the RuniGun bet
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Explains Runes as a fungible OP_RETURN token standard with efficiency, UTXO and front-running advantages over BRC-20, then pitches RuniGun as the tooling play. Details fees and tokenomics and ends with a referral link.
Key claims
BRC-20 market exceeds $1.5B
RuniGun charges a 1% marketplace fee, 80% of fees go to RNG buybacks and referrals
RNG max supply is 100M with 15% sold in the LBP
Will Runes dethrone BRC-20?
Exceeding $1.5B, BRC-20 is a huge market.
The Bitcoin halving in 4 days, will mark the rise of a new king in the $BTC ecosystem.
A billion dollar narrative is emerging and I found my 100x bet.
Alpha-🧵 t.co/6VrUWdmg5P
1/ After Ordinals, @rodarmor is cooking up yet another innovation. A fungible token standard for Bitcoin called the Runes Protocol.
The leading projects building on this tech will likely be worth 100s of millions.
Only 4 days left to position yourself anon.
2/ Tokens created using this new token standard are called Runes. Unlike BRC-20s, Runes are fully fungible meaning each Rune is interchangeable.
Runes are similar to ERC-20 tokens on Ethereum, but simpler and specifically designed for the Bitcoin blockchain.
3/ The difference to BRC-20 is significant, as @Delphi_Digital nicely summarizes in the below table.
For some key benefits of Runes over BRC-20, keep reading.
4/ 🔫 Higher Efficiency
Runes utilize the OP_RETURN field for streamlined token creation, allowing standard Bitcoin transactions for deployment, minting, and transfer, unlike BRC-20s that need new inscriptions for each transfer.
5/ 🔫 No Unused UTXOs
Runestones act as protocol messages to manage Rune transfers, destroying balances on old UTXOs and preventing network clutter, unlike the BRC-20 system.
6/ 🔫 Greater Flexibility
Runes support various minting options including open mint, fair distribution, and single address minting, offering more flexibility than the BRC-20s' limited open mint model.
7/ 🔫 Reduced Front-Running Risk
Runes use a commit-reveal scheme to minimize front-running, revealing transaction details only near confirmation, unlike BRC-20s where transaction intentions are visible in the mempool.
8/ However, @Delphi_Digital also pointed out in its deep dive report that the nascent stage of infrastructure around Runes protocol is a major risk.
Without integrations leveraging Runes' broad compatibility, its strength is negligible.
9/ I found the projects that solves this for the users from day 1.
Meet @runigun and prepare for alpha anon. 🔫
This is my 100x bet for the Runes narrative and you can still get in early.
🚨 Info on how to get exposure and access link at the end of the thread!
10/ Do you remember @bananagun anon? 🔫
It still sits at $350M FDV and has since inception been a strong revenue generator.
@runigun is something similar, just for Runes and it could potentially reach similar spheres in terms of valuation.
Let's explore. 👇
11/ RuniGun is an innovative Telegram bot designed to transform the interaction with Bitcoin L1 Runes.
@RuniGun facilitates the creation, minting, buying & selling Runes effortlessly through Telegram.
x.com/runigun/status/1775945826831073656
12/ With Runes DEX integrations, @RuniGun will allow for smooth swaps between rune tokens and native $BTC.
This literally removes any friction for users that want to interact with Runes on the Bitcoin L1, making the ecosystem seamlessly accessible to anyone.
13/ @RuniGun runs it’s own Bitcoin Core Node to broadcast and process transactions on behalf of its users.
Similarly, RuniGun host an indexer locally with internal wallet logics using the "ord aware" standard.
14/ To optimize performance and user experience, @RuniGun operates several instances of its Telegram bot. This strategy provides several benefits:
✦ Divided Workload
✦ Improved Runtime
✦ Improved Scalability
15/ With expertise on both technical and strategical levels, the team seems well equipped with a strong understanding of cybersecurity and industry standards.
Security is absolutely key in the bot game as we have seen in the past.
x.com/runigun/status/1772959502771310770
16/ But that's not all. 👀
@RuniGun will be the all-in-one hub for any Rune related activity and will revolutionize the UX for interacting with Bitcoin.
It will allow for atomic swaps, provide its own market place and even an aggregator between marketplaces for best price. 🤯
17/ It will make the Runes market more efficient and secure for users.
x.com/runigun/status/1779278539407196649
18/ More, very powerful features that will uniquely position @runigun as the go-to solution for anyone that wants to ape open mints, are coming too.
This will bring in 1000s of users and millions in volume, which will make @runigun a revenue generating machine.
19/ The @RuniGun Fee Structure:
✦ Creating and Minting Runes Fee: 1000 satoshis (approximately $1)
✦ Market Place Transaction Fee: 1%
✦ 80% of fees go to buying back $RNG and referrals.
20/ Most of the revenue will go towards $RNG buybacks.
This is what some people might call "uponly" tokenomics.
Coupled with what seems to be a banger product, this makes for a very interesting setup. 👀
21/ More on the $RNG Tokenomics:
✦ Max Supply: 100,000,000
✦ Team: 10%
✦ Advisory: 5%
✦ Partnerships: 10%
✦ Treasury: 50%
✦ Seed Round: 10%
✦ LBP (Liquidity Bootstrapping Pool): 15%
22/ Details on Vesting:
✦ Team: 3 month cliff, 12 month linear
✦ Advisory: 3 month cliff, 12 month linear
✦ Treasury: 25% unlocked on TGE, 12 month linear
✦ Seed Round: 20% unlocked on TGE, 1 month cliff, 4 month linear vest
23/ Yesterday, @runigun launched its IDO on @inscribe_app.
Find all the details on how to participate below! 👇
x.com/inscribe_app/status/1779921797791498528
24/ The LBP is also coming up soon and could provide another very accessible way to get exposure to @runigun and the Runes narrative as a whole.
NFA but DYOR anon. It's degen play for sure but I'm bullish on @runigun.
The BRC-20 hype printed millionaires. So will Runes season.
25/ If you want to get in early and become one of the first users, use my referral link below and outgun the market when the Rune madness kicks off in 4 days! 🔫
🚨 t.me/RuniGunBot/?start=ref_IB5x4iEF
That's a wrap! I hope you've found this thread helpful! 🫡
Make sure to follow me @zerokn0wledge_ to stay ahead of the curve on the Bitcoin ecosystem and Runes Protocol! 👀
Like/Repost of the below post is also highly appreciated! 🙏👇
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