Key Points
- OKX exchange has initiated a new mining phase for Runecoin via its OKX Jumpstart platform.
- Bitcoin holders can stake their assets to receive Runecoin tokens during this event.
OKX, a cryptocurrency exchange, has publicized the commencement of a fresh mining phase for Runecoin through its OKX Jumpstart platform.
The initiative, which began at 7:00 am UTC on April 29 and ended 24 hours later, offered Bitcoin holders the opportunity to stake their assets and earn Runecoin tokens.
About Runecoin
Runecoin, which is based on the Runes Protocol, was initially distributed as a Pre-Rune airdrop to early adopters of Ordinals. It has a total supply of 21 billion tokens, echoing the known maximum supply of Bitcoin, which is capped at 21 million tokens.
This occasion signified the first time a Bitcoin rune was featured on a significant exchange, thereby increasing Runecoin’s visibility and potentially boosting the engagement and understanding of Ordinals and Runes within the Bitcoin ecosystem.
Distribution Strategy
The platform’s distribution strategy specifies that 92.00% of the Runecoin total token supply is set aside for airdrops. The team keeps 5.00%, while 1.75% is allocated for OKX Jumpstart participants, and 1.25% is reserved for liquidity purposes. Participants in the BTC staking pool had the chance to mine 367,500,000 Runecoin tokens.
Participants could deposit BTC into their funding accounts on the OKX application, proceed to the Grow section to access Jumpstart, and click the “Stake” button to start mining.
After the event, they could choose “Unstake” to reclaim their BTC, which would automatically return to their funding account. If the unstaking process was not finished by the end of the event, the tokens would still be distributed to the users’ accounts.
Runecoin also announced its collaboration with OKC Jumpstart in a post dated April 29. The platform characterized it as a crucial moment for the community and “a significant advancement for the entire Runes ecosystem.”
They further stated, “It opens the door for high-volume trading with low fees, fast execution, a smooth user experience, and a broad reach to global users.”
