Runecoin has announced the release of the RSIC Genesis event in batches, with some users already receiving airdrops. RSIC, short for Rune Specific Inscription Circuits, represents the pioneering peer-to-peer rune allocation system on Bitcoin, developed by Runecoin.
In essence, RSIC functions as a gamified platform allowing users to mine and allocate rune tokens. Presently, holders of assets from projects like Bitcoin Punk, Bitcoin Puppets, Bitcoin Frogs, Bitcoin Bandits, Node Monkes, and OMB stand to benefit from airdrops facilitated by Runecoin.
The overarching objective of RSIC is to facilitate the equitable distribution of Runecoin in the future. As one of the projects stemming from the allure of the Rune Protocol, RSIC has gained traction. In January alone, the project distributed free tokens to 9,211 active wallets since the protocol's inception. Notably, certain RSICs boast a floor price of up to 0.1 BTC, equivalent to $6,100.
Runecoin Participation Rules & Rarity
As per Runecoin, there are only 21 billion RSIC in circulation, all minted on Bitcoin Ordinals and adorned with 24 rare symbols. Each RSIC features a distinct character in the bottom right corner, denoting its rarity.
The symbols range from 1 to 8192, with each symbol being assigned a hash value. If a symbol matches the hash function of the latest block, it turns orange (using JavaScript).
Presently, the system offers four allocation types: Flat (30% of the total supply), Boosted (30% of the total supply), Random (25% of the total supply), and Halvening (15% of the total supply).
Users are presented with several options, including mining runes, selling, or fading. Owning and activating RSICs enables users to earn rune rewards, with the reward magnitude increasing with the number of RSICs owned.
Furthermore, user participation on the platform necessitates the activation of RSICs, either by moving them to a new wallet or within the same wallet.
With each Bitcoin block, users stand to receive rewards for the activated RSIC-holding address, with distribution continuing until the supply limit is met. As of April 21, Runecoin has airdropped 99.37% of the total mined runes from RSIC.
RSIC Trading Volume
As per data from the OKX Web3 wallet, the total trading volume of RSIC•GENESIS•RUNE has surged to 45.7092 BTC, equivalent to approximately $3 million USD. Within the last 24 hours, the trading volume reached 26.5817 BTC, approximately $1.79 million USD. Presently, the floor price stands at 20.6 sats, translating to $0.013 USD. The project's market capitalization is estimated at $263.37 million USD.
The project boasts 17,293 investors currently holding RSIC tokens. The average price of RSIC sits at 19.8147 sats. Notably, the highest price recorded for RSIC stands at 80,000 sats, equivalent to $52.75.
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