OKX Jumpstart Introduces BTC Staking for Runecoin Mining

OKX, a prominent crypto exchange, has unveiled a new mining opportunity for Runecoin via its innovative OKX Jumpstart platform. The event kicked off at 7:00 am UTC on April 29 and will run for a full 24-hour period. During this time, Bitcoin holders have the unique chance to stake their BTC and earn Runecoin tokens in return.

Runecoin operates under the Runes Protocol and first appeared as a Pre-Rune airdrop targeting early adopters of Ordinals. It boasts a total token supply of 21 billion, mirroring the iconic 21 million cap of Bitcoin. This mining event is particularly notable as it represents the first inclusion of a Bitcoin rune on a significant trading platform, potentially increasing Runecoin’s exposure and fostering greater interaction with and understanding of Ordinals and Runes in the Bitcoin ecosystem.

Strategy and Participation Details

OKX has laid out a detailed distribution plan for Runecoin. The bulk of the tokens, precisely 92.00%, are set aside for airdrops. The development team holds onto 5.00% of the total supply. The OKX Jumpstart participants are allocated 1.75%, and 1.25% is reserved for liquidity purposes. Those participating in the BTC staking pool stand to mine a substantial total of 367,500,000 Runecoin tokens.

To participate, users need to deposit BTC into their OKX funding accounts, head to the Grow section on the OKX application, and press the “Stake” button to start mining. At the end of the mining period, participants can opt to unstake their BTC by selecting “Unstake,” which will automatically transfer the BTC back to their funding accounts. Even if participants do not complete the unstaking process by the event’s conclusion, the mined tokens will still be credited to their accounts.

Additionally, Runecoin has announced a significant partnership with OKC Jumpstart in a recent X post dated April 29. This collaboration is hailed as a major milestone for the community and a significant advancement for the Runes ecosystem at large. The partnership promises to deliver high-volume trading, low fees, fast execution times, a smooth user experience, and access to a global user base.