OKX Jumpstart unveils BTC staking option for mining Runecoin

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OKX, a leading crypto exchange, has unveiled plans to initiate a fresh mining stage for Runecoin via its OKX Jumpstart program.

As a researcher studying the cryptocurrency market, I’d like to share some exciting news about an upcoming event. Beginning at 7:00 am UTC on April 29 and continuing for the next 24 hours, Bitcoin holders have the opportunity to participate in a new initiative. By staking their Bitcoin assets during this timeframe, they will receive Runecoin tokens as a reward.

As a crypto investor, I would put it this way: Runecoin, a cryptocurrency built on the Runes Protocol, was first introduced to early Ordinals supporters through a Pre-Rune airdrop. This digital currency has a total issuance of 21 billion tokens, mirroring Bitcoin’s famous maximum supply limit of 21 million tokens.

For the first time, a significant exchange has added a Bitcoin Rune to its platform, increasing the exposure of Runecoin and possibly fostering greater interaction and comprehension of Ordinals and Runes among Bitcoin users.

As an analyst, I’ve examined the distribution strategy of this platform, and I can tell you that over 92% of the entire Runecoin token supply is allocated for airdrops. The team holds onto just under 5%, while 1.75% is reserved for OKX Jumpstart participants. An additional 1.25% is set aside for liquidity purposes. Notably, those taking part in the BTC staking pool can potentially mine around 367.5 million Runecoin tokens.

Users can transfer Bitcoin into their OKX funding accounts through the app, then proceed to the “Grow” sector to engage with Jumpstart. To initiate the mining process, simply click on the “Stake” button.

Following the conclusion of the event, users have the option to click “Unstake” in order to recover their Bitcoin. This action will cause the Bitcoin to be returned to their original funding account. If the unstaking process is not finalized by the event’s end, the Bitcoin will still be credited to the users’ accounts.

As a researcher studying the cryptocurrency scene, I came across an exciting announcement made by Runecoin on April 29th. They revealed their partnership with OKC Jumpstart, which they described as a pivotal moment for their community and a substantial leap forward for the entire Runes ecosystem.

We’ve made it onto OKX Jumpstart with the ticker symbol $RUNECOIN. This is a significant milestone as it represents the first listing of a Bitcoin rune on a major exchange. This development aligns perfectly with Runecoin’s goal to promote the adoption, education, and innovation of Ordinals, Runes, and more.

— Runecoin ▣⛏️ (@rune_coin) April 29, 2024

Additionally, they pointed out that it provides an opportunity for heavy trading volume at minimal costs, swift executions, an intuitive interface, and accessibility to a wide range of international users.

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2024-04-29 12:46