unchat qian

📜 RuneChain Ancient Scroll (Whitepaper) 📜 RuneChain: The Bitcoin L2 built for Rune DeFi Runes are coming at Bitcoin block 840,000. Runes allow Bitcoin transactions to etch, mint, and transfer Bitcoin-native digital commodities. However, scalable DeFi infrastructure is lacking to support trading activities in a permissionless and decentralized way. RuneChain is a Bitcoin L2 built for Rune DeFi on Bitcoin, where you can trade, earn, and build on runes. RuneChain's block time is around 2 seconds, a massive improvement over Bitcoin’s 10-minute block time. The average transaction fee on RuneChain is $0.001, a big saving from Bitcoin’s current transaction fees. 1) A BITCOIN L2 BUILT FOR RUNE DEFI RuneChain is a Bitcoin L2 blockchain optimized specifically for Rune DeFi on Bitcoin. It is powered by @BVMnetwork. Data Validation Module: @Bitcoin The foundation of the RuneChain architecture is the Data Validation module. This module significantly impacts the security model of the whole stack. Everything else in the entire stack is derived from the Data Validation component. Data Availability Module: @CelestiaOrg, @NEARProtocol DA, @eigen_da, @Filecoin, @0xPolygon For pragmatic reasons, RuneChain currently stores data on Bitcoin and other DA solutions like Polygon and Celestia. Bitcoin is arguably the most secure blockchain, and RuneChain stores the data hash on Bitcoin. Other DA solutions are more cost-effective storage solutions, and RuneChain stores the data (compressed transactions) on these DA solutions. Rollup Module: @Optimism RuneChain reuses the battle-tested Optimism codebase. BVM implements a modified version of the OP Stack that adds support for Bitcoin. We also built a prototype testnet with ZK Stack by @zksync, but at the time of this writing, OP Stack is more stable than ZK Stack for us. Stability is an important factor for a DeFi infrastructure. Smart Contract Module: EVM RuneChain Chain is EVM-compatible. It allows developers to migrate dapps from Ethereum to Bitcoin with minimal or no modifications. Rune DeFi Dapps To bootstrap the network, the BVM team ships the initial Rune DeFi dapps: - Rune Spot (ETA: April 19, 2024) - Rune Staking (ETA: April 26, 2024) We welcome other builders to come and build more Rune DeFi dapps on RuneChain. Some potential dapp ideas: - Rune Futures/Perpetual - Rune Lending - Rune Margin Trading - AMM Trading - Rune Launchpad 2) PLATFORMS Trading in 2024 is different from trading in 2017. As many retail users are coming to the Bitcoin ecosystem, we need a Web2 experience for Web3 products. - Mobile: The RuneChain team ships the RuneChain mobile app with Account Abstraction and PWA. Users can trade Bitcoin assets on the go. The app is fast and simple. When users use the app, they feel as if they are trading in a consumer app like Cash App or Robinhood. - Desktop: The desktop version will be optimized for pro users and include more rune information, charts, and information. 3) RUNERS Runers is an "on-chain" generative typography art collection. Each one is unique and generated by code. They live forever on Bitcoin as Ordinal inscriptions. Runers are more than fun characters; they have superpowers: they mine $RUNIX, the RuneChain token. On RuneChain, Runers are miners. And to celebrate the Bitcoin renaissance, the BVM team gives 100% of Runers to the BVM community. 4) RUNIX $RUNIX is the RuneChain token. - Total supply: 21M - 10% distributed to Runers holders at mainnet launch - 90% earned through mining Mining rewards are halved every month, paid out over 32 months, commencing with 9,450,000 $RUNIX in the first month. With this design, 100% of $RUNIX is given to the community. There will be no VCs, sales, or team allocation — RuneChain is forever for the people. 5) MINING BOOST Different Runers have different mining powers, with rarer characters having higher boosts. Combining Runers in a squad can significantly multiply mining rewards. CONCLUSION Runes is a pretty exciting development. Similar to Ordinals, we believe it could have a big impact. We're excited to build the Rune DeFi infrastructure so that everyone can trade, earn, and build on runes. We all win when #Bitcoin wins.