Rune Protocol Dragon II? Detailed Interpretation of RuneEvo Airdrop Rules

Rune Protocol Component—RuneEvo

According to the current official information, to bridge the transition phase between the BTC layer one network and layer two network, allowing users to better experience the services within the existing BTC network, BitEvo will launch the Rune protocol component, leveraging technical advantages to help users handle various on-chain transaction service issues.

What is the Rune Protocol

The Rune protocol is a new type of UTXO (Unspent Transaction Output) based fungible token protocol proposed for the Bitcoin network. This protocol was proposed by Casey Rodarmor, the creator of the Bitcoin Ordinals protocol, aiming to create a more streamlined and user-friendly token management method by utilizing Bitcoin's UTXO model.

What can the Rune Protocol do, and what problems does it solve?

Unlike existing token standards such as BRC-20, the uniqueness of the Rune protocol lies in its foundation on the UTXO model, which allows it to naturally integrate with the structure of the Bitcoin blockchain and facilitate effective UTXO management. The goal of this approach is to reduce unnecessary UTXOs generated by token transactions, thereby optimizing network efficiency and scalability.

Compared to BRC-20, the Rune protocol has the following advantages:

Simplified token management and user experience: The Rune protocol aims to simplify the token management process by using Bitcoin's UTXO model, making it easier for users and developers to create and trade tokens. It reduces the complexity of token operations and enhances user experience.
Reduction of unnecessary UTXOs: Protocols like BRC-20 may lead to a large accumulation of UTXOs, which can increase the burden on the Bitcoin network, reducing its efficiency and scalability. The Rune protocol strives to reduce this situation by optimizing UTXO usage, improving overall network performance.
Higher network efficiency: By better integrating with Bitcoin's core UTXO model, the Rune protocol facilitates more efficient transaction processing and higher network efficiency. This means Rune can support more complex functionalities while increasing on-chain transaction speed and reducing gas consumption.
Enhanced security and transparency: The design of the Rune protocol emphasizes security and transparency, which helps improve the overall security of creating and managing tokens on the Bitcoin network. It employs a unique approach to handling tokens, which can help prevent issues such as fraud and double spending.

How BitEvo integrates the Rune protocol to provide better services for users

With the understanding and recognition of the Rune protocol, BitEvo has partnered with the Rune protocol to create a new customized Rune component—RuneEvo. This feature aims to provide users with customized on-chain services, offering exclusive services in areas such as NFTs, DeFi, and GameFi, focusing on solving long-standing issues of on-chain congestion and high gas fees. The specific service content is as follows:

DeFi

Enhanced liquidity and trading efficiency: The Rune protocol helps enhance liquidity and trading efficiency for DeFi applications on the Bitcoin network by simplifying the token creation and trading process. More efficient transaction processing means users can transact faster, reducing wait times and costs.

Broader asset support: Utilizing the Rune protocol, various types of tokens can be created on the Bitcoin network, including tokens representing real-world assets. This can expand the asset categories on DeFi platforms and attract more users to participate.

Increased user participation: By simplifying the token management process, the Rune protocol can lower the barrier for users to participate in DeFi applications, attracting a broader user base, especially new users who are less familiar with blockchain technology.

GameFi

Tokenization of in-game assets: The Rune protocol can be used to tokenize in-game assets such as equipment, characters, or items. This allows players to securely buy, sell, and exchange these assets on the Bitcoin blockchain, bringing greater security and transparency to GameFi projects.

Increased cross-game asset compatibility: By managing game assets on a unified blockchain, the Rune protocol helps achieve interoperability and compatibility of assets between different games. Players can more easily transfer assets from one game to another, increasing user engagement and the vitality of the gaming ecosystem.

Enhanced design flexibility of game economic systems: Game developers can leverage the Rune protocol to innovate the design of game economic systems on the Bitcoin network, exploring new incentive mechanisms and economic models to enhance the attractiveness and participation of games.

NFT

Creating and trading NFTs on the Bitcoin network: Although the Rune protocol primarily focuses on fungible tokens, its UTXO-based characteristics can also support the creation and management of non-fungible tokens. This means artists and creators can utilize Bitcoin's security and widespread recognition to issue and trade NFTs.

Improving the security and reliability of the NFT market: By managing NFTs on a mature and secure blockchain like Bitcoin, users can enjoy a higher level of security, reducing the risks of fraud and loss.

Expanding the availability of NFTs: The Rune protocol can facilitate innovation and expansion of NFT use cases on the Bitcoin network, including artworks, collectibles, copyright assets, etc., providing users with more choices and opportunities.

RuneEvo brings significant benefits to users in the DeFi, GameFi, and NFT fields by improving transaction efficiency, simplifying token management, and enhancing security and transparency, while also promoting the development of innovative and diverse applications within the Bitcoin ecosystem.

What is RuneEvo NFT?

It is understood that RuneEvo NFT is an NFT created by BitEvo based on its RuneEvo protocol component, which has currently launched an official collection in the OKX WEB3 market. Users holding RuneEvo NFT can receive BitEvo's official rune airdrop when the Bitcoin halving occurs, specifically when the Bitcoin blockchain reaches block height 840000 and the Rune protocol officially goes live. Users holding RuneEvo NFT can enjoy special NFT rights.

RuneEvo (Rune Evolution)

RuneEvo NFT, created as a component of the RuneEvo protocol, has now been launched on the OKX WEB3 market. As one of the first officially released NFTs, its limited availability provides early participants with rich on-chain rights. Users holding this NFT not only gain early on-chain assets but also become key targets for upcoming official activities, contributing strong vitality to the initial construction of the community.

Initial issuance volume: 298

Issuance price: 0.02 BTC

RuneEvo NFT Airdrop Rules and Expectations

Based on the information currently available to the editor, there are no detailed airdrop rules for RuneEvo NFT. However, according to the information disclosed, it can be anticipated that after the Rune protocol officially goes live, early NFT holders will receive corresponding rune tokens as airdrops. Given the current market value of the project's NFTs, the initial low market value allows early users participating in the RuneEvo construction to have significant imaginative space.

The previously released Runestone had a large airdrop volume, so it can be expected that subsequent selling pressure will be considerable. The fluctuations in rune value depend on the overall expectations of a large number of airdrop users regarding the project, during which many users will inevitably hesitate about whether to participate in the early community construction. In contrast, the low initial quantity of RuneEvo NFT offers higher expectations for early participants, meaning that users who enter community construction earlier can gain greater rights, which will further enhance user activity and enthusiasm.

Perhaps after the Bitcoin halving, RuneEvo becoming the second major project on the Rune protocol is not unfounded? At the same time, we look forward to RuneEvo bringing us more comprehensive news.

BRC-20 craze and Ordinal ecosystem tracking

Hype vs Revolution, where will this passion take Bitcoin?

Topic or theme

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.