Crypto exchange OKX has announced the launch of a new mining phase for Runecoin through its OKX Jumpstart platform.
Starting at 7:00 am UTC on April 29 and concluding 24 hours later, a new initiative allows Bitcoin holders to stake their assets and receive Runecoin tokens in return.
Runecoin is based on the Runes Protocol and was initially distributed as a Pre-Rune airdrop to early Ordinals adopters. With a total supply of 21 billion tokens, Runecoin echoes the well-known maximum supply of Bitcoin, which is capped at 21 million tokens.
This event marks the first time a Bitcoin rune has been included on a major exchange, broadening Runecoin’s visibility and potentially enhancing the engagement and understanding of Ordinals and Runes within the Bitcoin ecosystem.
According to the distribution strategy outlined by the platform, 92.00% of the Runecoin total token supply is allocated for airdrops. The team retains 5.00%, while 1.75% is designated for OKX Jumpstart participants, and 1.25% is earmarked for liquidity purposes. Participants in the BTC staking pool have the opportunity to mine 367,500,000 Runecoin tokens.
Participants can deposit BTC into their funding accounts on the OKX application, navigate to the Grow section to access Jumpstart, and use the “Stake” button to begin mining.
After the event, they can select “Unstake” to retrieve their BTC, which will automatically return to their funding account. If the unstaking process is not completed by the end of the event, the tokens will still be distributed to the users’ accounts.
Runecoin also disclosed its partnership with OKC Jumpstart in an X post dated April 29. The platform described it as a watershed moment for the community and “a significant step forward for the entire Runes ecosystem.”
— Runecoin ▣⛏️ (@rune_coin) April 29, 2024We are joining @OKX Jumpstart. The ticker is $RUNECOIN.
This is a monumental achievement, marking the first listing of a Bitcoin rune on a leading exchange. This huge step aligns with Runecoin’s mission to bootstrap adoption, education and innovation of Ordinals, Runes and… pic.twitter.com/vBGZEduE4d
Furthermore, they noted, “It opens the door for high-volume trading with low fees, fast execution, a smooth user experience, and a broad reach to global users.”