So @Stacks announced a few days back that Nakamoto will be delayed. Here is my take:
There are a handful of reasons why STX is important as a chain, but one of the biggest reasons is its security (IMO).
As someone coming from ETH (and dipping my fingers into Solana), it feels almost surreal interacting on a chain that has been almost invulnerable in comparison. If you're a dev you already know how and why Clarity is so much better than Solidity, but that's not meant to be a technical post anyway.
See, I have been buying and selling nfts, coins and whatnot on STX for over 4 years now, and never had any issues. Never heard of someone's wallet being "hacked", or someone interacting with a malicious contract. STX is just very different from ETH.
Now, Nakamoto is a big step. However I would never trade in the security I enjoy now for faster transaction speeds. So I don't really care if Nakamoto will take another month or more to launch, because the team is making sure we will still enjoy the same security, but with faster speeds.
I think its worth it. Let the dev's dev and it's also a good moment to onboard more users until liftoff. Because Stacks with transaction times under 5 sec AND it's well known security will be simply unstoppable during the next bullmarkets.
@punk3700 Will you and the team finish minting the Runers that many of us are waiting for? I’m still hoping I’m in the game here on this project. But I’m still in the minting phase.
wait.. did we accidentally build $runix as the first rune with utilities?
- revenue shares
- trading fee discounts
- governance
- staking
runechain.com
rune #4 runix is the runechain token. runechain is a bitcoin l2 for runes trading with 2s tx time & $0.001 tx fee.
BITCOIN RUNE CHECKLIST
☑️ Etch a rune
☑️ Mint a rune
✅ Mine a rune
Mine the historial Rune #4 $RUNIX for every trade you do on RuneChain. Rune #4 is for the people, forever.
runechain.com
@Parass_dot_sol@BVMnetwork@naka_chain I'm seeing the same thing and I am waiting on 9 to finish being minted. It is almost as if the process has been paused.
HOW TO BRIDGE $BVM TO THE RUNECHAIN?
$BVM will be necessary for both trading and network fees on the RuneChain.
You can only bridge $BVM to the RuneChain from the @naka_chain.
→ runechain.com
Here are the step-by-step instructions:
RuneChain: The "Decentralized Binance" for Runes
Where will you trade runes in 3 days?
AMM is too difficult for normies. L1 is too slow. CEX is too centralized.
So, we build a fast, cheap & decentralized trading protocol for runes.
→ runechain.com
A DEX with CEX experience
* On-chain order books
* On-chain market orders
* On-chain limit orders
A scalable Bitcoin L2 performance
* 2-second transaction time
* $0.001 transaction fee
* 700 transactions per second
A game-changing crypto UX for mass adoption
* Self-custody account abstraction
* Trade runes on mobile
With RuneChain, you’ll be trading runes on a DEX with CEX experience, both on desktop and mobile.
Previously, this wasn’t possible for Bitcoin due to high network fees and slow 10-minute block time. But RuneChain is a fast, low-cost Bitcoin L2 powered by @BVMnetwork.
We believe this will onboard many users who are more familiar with CEX and who come from TradFi.
On-Chain Order Books
RuneChain's on-chain order books are a set of smart contracts that facilitate peer-to-peer market making and market taking of runes.
An on-chain order book is fundamentally an on-chain list that includes current buy orders and sell orders for a particular rune.
On the RuneChain website, the order book is split vertically on the screen: asks are displayed in red at the top, and bids are shown in green at the bottom.
It displays not just the prices that buyers and sellers are prepared to accept but also the amount they wish to purchase or sell at those prices.
On-Chain Market Orders
An on-chain market order is a buy or sell order that executes immediately against the Order Book smart contracts at the best available market prices.
If you prioritize quick execution over precise pricing, consider using a market order. This type of order executes immediately at the best available price: the lowest for buyers and the highest for sellers.
Market orders are ideal when prices are volatile, and you need to act fast.
On-Chain Limit Orders
An on-chain limit order allows you to specify the maximum price you're willing to pay; the order will only execute against the Order Book smart contracts at this price or a more favorable one.
Suppose $WZRD is trading around $10, but you believe the price might drop. Instead of buying immediately, you could place an on-chain limit order to purchase 1 $WZRD at $9. This means you would only pay $9 per $WZRD rather than the $10 you might pay with a market order.
Limit orders are ideal for trading large quantities as they guarantee that you only pay the price you want as it becomes available. However, the drawback is that there's no assurance your order will be executed if the market price doesn't meet your specified level.
Rune Bridge
Rune Bridge enables the transfer of runes between Bitcoin (L1) and RuneChain (Bitcoin L2).
While you can trade runes on L1, the user experience isn't ideal, with 10-minute block time and expensive transaction fees.
Once you bridge runes from Bitcoin to RuneChain, you can trade runes, with 2-second block time and $0.001 transaction fee.
The first version of the Rune Bridge is multi-sig, so use it at your own risk. Trustless bridges are complex crypto problems. We're working on a more decentralized solution, and actively researching other solutions like BitVM, OP_CAT, or Stacks Bridge. We think we're getting close to a temporary "sufficiently decentralized" solution. We'll share the design in a few weeks.
See you at the Runes launch at block 840000
RuneChain will launch at the same time as the Runes launch at block 840000 (around April 19 or April 20, 2024).
Let's kick off Bitcoin DeFi summer by bringing Bitcoin's memetic power to the people.
See you in 3 days!
🫡
PS: please remember to "activate" your Runers.
THE RUNERS MINTED OUT!
We'd like to thank the entire community for your great support.
All 21k Runers slots have been successfully minted out!
They are being added gradually on @MEonBTC
-> magiceden.io/ordinals/marke…
If you've made your payments on time, your Runers are guaranteed. They are now being processed at a pace of one Runer inscribed every 10 seconds.
We appreciate your patience as it may take some time for you to inscribe your Runers. The status of Minting is currently on track and you will receive your Runers within 72 hours.
If you encounter any issues during the minting process, please be assured that we are actively monitoring messages and will address any concerns as promptly as possible.
If there is any discrepancy during the minting process regarding your payments, please provide us with more details via DM, and we will fix that for you.
Our inbox is currently experiencing a high volume of messages, and we want to ensure that each inquiry receives the attention it deserves. We will respond to all of your messages within the next 24 hours, if not sooner.
Thank you once again for your support and understanding.
Stay tuned for further updates about the bridge to the RuneChain!
@BVMnetwork@MEonBTC ser this mint was horrible. Completly a mess. I cant even mint with m evm. Always get an error. Wth was this mint???
This sucks ser
@BVMnetwork@MEonBTC Hello @BVMnetwork
I have received on Runer. Thank you guys. But still waiting for the other. On generative it says “minting” for six hours now. Could you please check my DM?
@BVMnetwork@punk3700@MEonBTC I really don’t understand feel like getting ignored by admins kindly asking about a issue facing it’s been nearly 8 hours since I mint my 10 runers
Also I’d use my xverse wallet address to receive it bc1pxcgkx0mr5sn24svwr57xw80ectxd72cqgsar4dey6kl27xs2gyxsxq05kk
Let's Rune the World!
RuneChain is a Bitcoin L2 that scales Bitcoin for Rune trading, powered by @BVMnetwork.
It’s made for mass adoption with a rock bottom $0.001 average transaction fee and a nimble 2-second block time.
→ runechain.com#x927bg