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Author: Admin | 2025-04-27
BRC-20Both Runes and ARC-20 are developed to address some limitations of BRC-20 due to its account-based model. The table below summarises the pros and cons of the three protocols: Pipe: Inspired by Runes and BRC-20, Pipe is a UTXO-based token protocol launched on Bitcoin in September 2023. Created by BennyTheDev, the creator of Tap protocol (Bitcoin Ordinals protocol supporting OrdFi), Pipe enables users to deploy, mint, and transfer tokens on the Bitcoin network. It aims to improve upon Runes by providing fair minting (equal chance to acquire tokens). $PIPE was the first token launched on Pipe. Rune Specific Inscription Circuit (RSIC Metaprotocol): RSIC Metaprotocol is a project combining Ordinals with yield farming, consisting of 21,000 Bitcoin NFTs featuring runic symbols, with 90% of the NFTs airdropped to selected active Ordinals wallet addresses in January 2024. After activation, NFT holders can earn “runes (token to be issued on Runes protocol once the protocol is live, note that it is not an official token launched by Casey Rodarmor). At the time of writing, RSIC has a floor price of 0.089 BTC. Runestone: Runestone is an NFT project led by founder of ord.io platform (@LeonidasNFT). In March 2024, Runestones were airdropped to Bitcoin addresses holding three or more non-text inscriptions before block height 826,600 (one year anniversary of Ordinals). Prior to the airdrop, Runestone #63,140,674 was auctioned for ~8 BTC (US$544,000 based on price during auction). Similar to RSIC, Leonidas mentioned that Runestone would be “converted” into a token launched on the Runes protocol once it’s live. At the time of writing, there are 112,384 Runestones, with a floor price of 0.058 BTC and a total transaction volume of 24 BTC.2.5 Outlook of RunesAlthough Runes has yet to launch — it’s set for sometime in April 2024 – it has created great interest in the community based on the appeal of Casey Rodarmor and the Ordinals team’s work. Rodarmor mentioned that the first 10 Runes would be deployed with fair and open mints, and started a poll to collect name suggestions in February 2024. The token names will be 12 characters or more during initial launch, and gradually shorter ones will be unlocked where projects would have to pay fees to acquire these names.As discussed above, various projects were already launched with linkage to the Runes protocol, showing the community’s excitement to build on the protocol. By aligning itself with Bitcoin’s UTXO model,
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