decrypt.co
Bitcoin wallets that were airdropped Runestones will receive three meme coins starting with the Dog airdrop later this month—if they still hold those Runestone inscriptions when it happens.
YOU ARE NOT READY FOR THE CUTENESS THAT YOU ARE ABOUT TO GET AIRDROPPED IF YOU HOLD A RUNESTONE pic.twitter.com/uKSEWzUhn6
— Leonidas (@LeonidasNFT) April 8, 2024
“The central bank is collapsing, and fiat hyperinflation narrative only resonates with a small segment of the population, but everyone likes a cute puppy in an orange hoodie,” Runestone contributor Leonidas told Decrypt.
As Leonidas explained, Runestone holders will be airdropped the “Dog” meme coin once the Runes protocol goes live during the Bitcoin halving later this month. Provided they haven't sold or otherwise transferred them in the mean time, that is.
RUNESTONE HOLDERS WILL RECEIVE 3 RUNES MEMECOIN AIRDROPS
NAME: DOG
SUPPLY: █████████
WHEN: LATER THIS MONTHNAME: ███
SUPPLY: █████████
WHEN: LATER THIS YEARNAME: ███
SUPPLY: █████████
WHEN: WHENEVER WE HIT #1— Leonidas (@LeonidasNFT) April 8, 2024
“The only way to receive the Dog airdrop is to hold a Runestone,” Leonidas said.
Last month, Runestone Ordinal inscriptions were airdropped to 112,383 eligible wallets. Ordinals minting platform Ordinalsbots partnered with the Runestone project to execute the massive inscription delivery.
In February, speculation began on Twitter over a potential airdrop tied to the highly anticipated Runes fungible token standard from Rodarmor, the original creator of the Ordinals protocol.
Leonidas had called Runestone a “pre-Runes” project. When Runes launches on the Bitcoin network the Runestone inscriptions received in the airdrop will convert into a Rune token on the new protocol.
According to the Inscription marketplace Ordinals Wallet, Runestone has a total trading volume of 41.6 BTC, around $2.9 million since the project launched in March.
“If Ethereum has a dog coin with a $17 billion market cap, there is no reason why Bitcoin, which is three times larger than Ethereum, shouldn't also have a very popular dog coin,” Leonidas said, referring to the popular Shiba Inu (SHIB) Ethereum-based meme coin.
While meme coins are still relatively new to Bitcoin, Leonidas is optimistic that the craze can one day be as big as they are on Ethereum, the second-largest blockchain by market capitalization.
“I believe that Dog has the opportunity to onboard millions of new people to Bitcoin,” he said.
Edited by Ryan Ozawa.