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 * The History of RSIC
 * Resources
   * Links
   * Season One Whitepaper
   * Season Two: Details TBA
   * Community Writings
 * RSIC Metaprotocol
   * Provenance Chart
   * RSIC Specs
   * Runes
   * Lore
   * Runedev Insights

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On this page
 * 
   Overview
 * The Game
 * Lottery and Pool
 * Memeland Partnership
 * $Runecoin
 * Impact
 * The August Updates
 * Disclaimer





THE HISTORY OF RSIC

8-21.com is a community-made educational resource with no affiliation to the
Runecoin team.

OVERVIEW

RSIC Metaprotocol is a Bitcoin Ordinals collection featuring elements of
creative coding, token farming, and unique game mechanics. It is notable for its
use of inscriptions as digital miners, described by the RSIC whitepaper as a
peer-to-peer rune distribution system. The collection leverages provenance
through parent-child relationships that tie each RSIC to inscription #126. The
creators refer to the project as a game with the goal of securing a bag of
runes. The term 'RSIC' (Rune Specific Inscription Circuit) is presumably
inspired by ASIC Bitcoin miners.

THE GAME

The project launched unannounced in January 2024 when twenty-one thousand RSICs
were airdropped for free to active members of several Ordinal collections.
Players were instructed to transfer their RSIC once to activate the miner (a
self-transfer was acceptable).

RSIC miners have a set of 24 rarities based on their rune symbol in the lower
right-hand corner of the grid. The significance of RSIC rarity is currently
unknown.


RSIC Digital Miner

Once activated, the mined output was 21 runes per block. The rune symbol in the
lower right-hand corner of the RSIC randomly turned orange, indicating a yield
of 336 runes for that block. This was a random reward that occurred when the
RSIC type code matched the latest block hash. Allocations for runes accrued to
wallets, not RSICs. If an RSIC was transferred to a different wallet, the mined
rune allocations would remain with the original wallet and not get transferred
to the new wallet receiving the RSIC.

Players were later given the option to create a "boost" inscription to earn
addition runes while mining.

The airdrop was an immediate success. In February 2024 a rare RSIC sold for 3.25
BTC. RSIC Metaprotocol reached a peak floor price of around 0.115 BTC in March
2024. Since launching, the collection has surpassed 1.6K BTC in secondary
volume, placing it among the most popular collections in the Ordinals ecosystem.


RSIC 18116 (one of two rarity) sells for 3.25 BTC

Communities that received the airdrop include Node Monkes, Ordinal Maxi Biz,
Bitcoin Frogs, Bitcoin Puppets, Pizza Ninjas, and some sub 10K collections,
among others. The exact criteria for the distribution is unknown, but there was
likely an element of randomness involved.


Runesdev Distribution Insight

The game designers reserved 10% of the RSIC supply and participated in rune
mining.


Team Wallets

Team Hasn't Sold RSICs or Runecoin

Copy

TEAM WALLETS: 

bc1pxwuaelqr06t42gvq5w7jdxn66hfvqch5yj4ptfrnf66m9kgk6lgsdhmpn9

bc1pvq7x5hjdzj0ml4mjxlf5jghqcdgdq6jaahkny9hh3e6n7m6uz3vscz26g9

bc1ppfm328zn5z7n3e0pkgv7nfwwg5uq0t04g0sdet2hvzmhwcgllvhqmv5wwp

bc1phd29qxavfjc0ft0vfd4zeju9ntcms45zrptsx85khw05fewp28tqpalnp7

Although there is speculation as to the creators' identities, the team remains
anonymous. Major updates to the project are published on-chain. The RSIC dev,
known as runesdev, occasionally posts supplemental information on X.com.

Throughout the mining process (between Jan 2024-April 2024), pre-rune
allocations could be tracked on ordiscan.com. A dashboard with a leaderboard for
rune mining was also made available on the Runecoin website (runecoin.io).

LOTTERY AND POOL

In addition to mining, the game designers included a rune-lottery at the
halvening. Each RSIC received one lottery ticket for every consecutive block it
was held until block 840,000. If a player transferred or sold their RSIC, all
lottery tickets for that miner would revert to zero. The raffle offered five
separate prize allocations of the total rune supply (5%, 4%, 3%, 2%, and 1%).

Inspired by the game designers' references to Voltaire, a community known as the
'Runes Collective' spear-headed a ticket-pooling effort to increase their odds
of winning.

Inscription #67,645,350 | OrdiscanOrdiscan
Runes Collective RSIC Pool Instructions

The Runecoin team facilitated the pooling effort, and the Runes Collective
community won 4 out of the 5 possible allocations. Within each prize pool, the
holder of the winning RSIC received 10% of the allocation. The other 90% was
distributed to all pooled RSICs. The Runecoin team published the lottery
algorithm on-chain.

Inscription #69,576,472 | OrdiscanOrdiscan
Halvening Raffle Algorithm

Halvening Allocation Raffle Results

The single winner of the 2% prize won 420 million $Runecoin. This lucky account
held one RSIC.

MEMELAND PARTNERSHIP

In April 2024, $Runecoin became the first token to launch on Memeland's
Stakeland platform. The Runecoin team allocated 2% of their own supply to
Stakeland to educate and onboard new users to the Runes ecosystem. Users on
Stakeland were given tasks to post on X.com in order to earn steaks. A
percentage of the steaks could later be burned for $Runecoin.


Memeland Art: Wat is RSIC?

Memeland Art: Voltaire
$RUNECOIN

The mined RSIC rune at the halvening was revealed to be Rune #8
(RSIC•GENESIS•RUNE), also known by the ticker $Runecoin. The number eight was
deliberately chosen because it's considered a lucky number in Asian culture. The
$Runecoin supply is limited to 21 billion tokens. Impressively, the postage on
the etch transaction was 888 sats.


Postage: 888

The Runecoin team flawlessly airdropped Rune #8 to the community. Runecoin
became the first project to airdrop a pre-mined rune allocation, despite the
high-fee environment at the time. They also assisted other projects in
airdropping runes to their respective communities.

In April 2024, $Runecoin was listed on OKX, becoming the first rune to be listed
on a leading exchange.


OKX Announcement

The airdrop of RSIC•GENESIS•RUNE marked the end of RSIC Season One. The Runecoin
team has confirmed that RSIC digital miners will have a second season, although
no further details have been released. Rune #21 (RSIC•SEASON•TWO) was etched and
premined by the Runecoin team at the halvening, but it is unclear if this
particular token is being mined in Season Two. In May 2024 the Runecoin team
acquired runecoin.com.

IMPACT

RSIC Metaprotocol influenced the Ordinals airdrop meta of 2024 and inspired the
launch of many other pre-runes projects. The Runecoin team has successfully
delivered on two airdrops (RSIC inscriptions and Rune #8), helping to onboard
thousands of people into the ecosystem and grow the community. These airdrops
are estimated to have cost the Runecoin team a double-digit amount of bitcoin
out-of-pocket. Based on the their track record and technical achievements, the
project is poised to continue innovating in the Bitcoin ecosystem.


Runesdev's Vision
THE AUGUST UPDATES

8/8/248/13/248/16/24

The runes ecosystem has taken a beating, but we believe it will prove to be
successful.

What is the critical thing?

Liquidity.

Everything is downstream of liquidity.

It sounds simple.

But the simple thing is hard.

Runecoin started as an experiment. We have always had the ethos that the space
must win, not just a single project, including this one.

In keeping with that, we will continue to experiment, with the overarching
objective of attracting interest and liquidity to the runes ecosystem.

We have ideas for how to achieve this.

But let us be clear. Runecoin does not need us to succeed. The catalyst could be
unpredictable, or come from someone or something else.

If it does, we will applaud it.

Now let’s talk about the bull case: our thesis is that Runecoin could become the
second most valuable cryptocurrency after Bitcoin.

That is an extreme bull case.

The bear case is zero.

Where will the chips fall?

Let’s play the game and find out. - Runecoin, x.com
https://x.com/rune_coin/status/1821695356716876064

Runes on bitcoin could replace ERC-20 tokens on ethereum.

Bitcoin is the most decentralized blockchain, with fewest points of failure.
Runes inherit these properties.

If the underlying network has technical defects, or the base currency has bad
distribution and extreme price volatility, it compounds risk.

The UX for runes is a work in progress, but technical debt, bad distribution,
and underlying volatility are insoluble problems for other networks.

There is no second best. - Runecoin, x.com
https://x.com/rune_coin/status/1823402645434122422

RUNECOIN COMMUNITY: How should we give these away? Give us your ideas below.
Follow @rune_coin and @the_runedev for updates. The goal is to raise awareness
and appreciation of runes on bitcoin. - Runecoin, x.com
https://x.com/rune_coin/status/1824433048575742282

DISCLAIMER

The information provided on this website does not constitute investment advice,
financial advice, trading advice, or any other sort of advice and you should not
treat any of the website's content as such. 8-21.com does not recommend that any
cryptocurrency should be bought, sold, or held by you. Do conduct your own due
diligence and consult your financial advisor before making any investment
decisions.

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although it will not hold any responsibility for any missing or wrong
information. 8-21.com provides all information as is. You understand that you
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