Inscription #71082360#71,082,360htmlDOGGFATHERANALYTICS#70,283,546textInscription #70277188#70,277,188html#69,977,222video#69,753,570textInscription #65980030#65,980,030png## Runestone ### The open-source, transparent, volunteer, and decentralized initiative to reward people who participated in the first year of the Ordinals Protocol. ##### By [@Doggfather](https://twitter.com/DoggfatherCrew) ![banner](/content/fdb2df5d2b16db1ebcbf09e2d23b3f4e417db44b58e712c99b61f26b52c7cbb5i0) ### The Runestone Project The founder of the ordinals explorer [Ord.io](https://www.ord.io/) and host of The Ordinals Show, [Leonidas](https://twitter.com/LeonidasNFT), came up with the idea of the Runestone project. It should be an open-source, transparent, volunteer, and decentralized initiative to reward people who participated in the first year of the Ordinals Protocol. The project has two main components: - Runestone Ordinals - Runestone Runes Token ### Runestone Ordinals The Runestone Ordinals were distributed based on an address’s on-chain activity on or before block height 826,600 which was exactly one year after Ordinals was released. Eligible addresses need to hold at least three non-text inscriptions. The airdrop to 112,384 addresses can be considered fair because of the following reasons: - No presale - No farming - No secret algo - No claim process - No paid marketing - No team allocation - No favoritism to whales Several independent verifiers cross-checked the eligible addresses. One of them was the Ordinals researcher [OrdData](https://twitter.com/OrdData) who also published a comprehensive [GeniiData](https://twitter.com/GeniiData) [dashboard](https://geniidata.com/user/orddata/runestone) covering Ownership Stats, Transfers, Inscription Process, Satributes, and Provenance. The collection is organized via "parent-child" to guarantee clear on-chain provenance. There is one [grandparent inscription](https://www.ord.io/63140674) that is the largest ever inscribed file on Bitcoin at the time of writing this post. It was sold for 8 BTC in a Dutch auction to cover the airdrop fees. (Several community members further donated 2.25 BTC to cover transaction fees.) This grandparent has a [child](https://www.ord.io/63026232), which serves as the parent to the over 112k inscriptions. It was designed by [FAR](https://twitter.com/0xfar) (also as a donation to the project) and is shown in the banner of this post. The child has been burnt by sending it to Sathoshi's wallet. As a result, the supply of the Runestone Ordinals collection is locked. Additionally, to save on fees, the over 112k inscriptions are identical and refer to their grandparent via delegation. The inscription service provider [OrdinalsBot](https://twitter.com/ordinalsbot) handled the airdrop of the 112k inscriptions to the eligible addresses (also donating their time and resources). ### Runestone Runes Token While many in the Ordinals community consider the Runestone Ordinal as a badge of honor and a valuable collectible on its own, the main purpose of the Runestone Ordinal is to be a placeholder for the scheduled fair launch of a Runes Token. The Runes Protocol is a new fungible token protocol that will be launched by the Ordinals core developer team, led by [Casey Rodamor](https://twitter.com/rodarmor). The launch date is after the fourth Bitcoin halving (block 840,000). The Runestone community will decide upon the exact supply, and, once some suitable tickers have been secured by Leonidas, upon the ticker. While it's all in flux at this point, most market participants expect the Runestone Runes Token to become one of the most valuable Runes Tokens due to its fair launch, broad distribution across the Ordinals community, and the high market capitalization of the Runestone Ordinals collection. #65,576,067textInscription #65553525#65,553,525htmlInscription #65431958#65,431,958html#64,473,598Inscription #63605932#63,605,932htmlInscription #62270349#62,270,349png#60,583,206gltfInscription #60192791#60,192,791htmlInscription #40313734#40,313,734htmlupdate#36,344,505frensInscription #35859695#35,859,695html ## 🟧.frens Protocol ### The first Ordinals Soulbound Token ##### By [@Doggfather](https://twitter.com/DoggfatherCrew) ![banner](/content/bd41518a27731050f65a2e8edbaf11f0b2a5e0d54d5a797a07aa69bd647109d7i0) ### tl;dr The .frens protocol enables an on-chain social graph for the Bitcoin community. Users share their social connections by adding their friends’ Bitcoin addresses via Ordinal inscriptions. Indexers identify .frens inscriptions and provide a reputational score based on the number of mentions a particular address has. It’s a non-commercial project with a free mint. ### Soulbound tokens what? They are blockchain-based tokens representing a person’s characteristics, features, traits, and achievements. In contrast to NFTs, soulbound tokens cannot be transferred from your soul, i.e., your wallet. ### 🟧.frens Value Propositions 1. The .frens ID serves as a unique way to identify a community member's public Bitcoin/Ordinals wallet. The .frens ID is well suited for that purpose given that you can only have one .frens ID in a wallet and its Soulbound nature penalizes transfers. 2. You receive a higher .frens score if more of your friends add your address to their .frens ID address list. Such a metric measures the reputation an address has in the network. There are various use cases for a .frens score: i) Risk indicator for DeFi protocols; ii) Source of trust for new Ordinals projects; iii) Minimum score for WL; iv) Airdrops to your .frens (and .frens or your .frens) for token gating. 3. Display your Bitcoin and Ordinals network to the community, showing how active and deeply connected you are. Leaderboards will encourage active participation in recruiting new members. 4. You can prove that you were early by your low .frens number. The “OG” .frens numbers will also receive a higher weight in future more advanced .frens score calculations, encouraging early participation once network effects are negligible. 5. Unlike web2 social platforms, it’s a decentralized & uncensorable network. ### How 🟧.frens works The protocol has three inscription functions: 1. Deploy creates a new .frens soulbound token. Users can pick their unique user ID. Each Taproot address can only deploy one valid .frens ID. 2. Update adds new addresses to an existing .frens ID. Say you made new friends and want to acknowledge that on-chain. 3. Delete drops addresses from an existing .frens ID. Everyone could in principle inscribe many .frens soulbound tokens and send them to arbitrary addresses to manipulate their own .frens score. Hence, the protocol requires users to verify their receiving address. The .frens inscription can only be sent to verified addresses. Any other .frens inscriptions will not be considered by the indexer(s). ### Acknowledgements * Big thank you to the Ordbit.io team! They set up an inscription service, the first indexer, and a front-end displaying the social graph and a leaderboard. * Special s/o to Leonidas, Ordinal Labs, and Domo who provided invaluable feedback on my initial protocol ideas!#35,056,770textInscription #35056444#35,056,444pngInscription #35056351#35,056,351pngupdate#34,601,002frensInscription #33821157#33,821,157htmlInscription #33293047#33,293,047svgupdate#31,444,326frensupdate#27,520,513frensupdate#19,753,637frensdeploy#19,752,939frensregdoggfather.sats#210,605snsInscription #151523#151,523png