SatoshiVM Plans Runes Bridge Testnet Launch Next Week, Alpha Mainnet to Follow
In Brief
SatoshiVM will introduce the Runes Bridge on the testnet in the upcoming week, followed by its subsequent launch on mainnet Alpha.
Bitcoin zero-knowledge (ZK) rollup platform SatoshiVM (SAVM) revealed its intention to introduce the Runes Bridge on the testnet in the upcoming week, followed by its subsequent launch on mainnet Alpha.
Upon the official launch of the Runes Bridge, a specific set of Runes tokens, highly anticipated within the community, will receive priority support from SatoshiVM. Furthermore, the project plans to utilize SAVM from the Ecosystem Funds to incentivize users of Runes-related assets and early liquidity providers.
The SatoshiVM team has also indicated that the new campaign is currently in the planning phase, with SatoshiVM aiming to collaborate with various projects within the Runes ecosystem to foster the broader adoption of Bitcoin native assets.
The Runes protocol enables users to etch, mint, and transfer native assets on the Bitcoin network via specific transactions. It represents a new approach within the Bitcoin ecosystem for issuing fungible tokens with improved scalability. Each unit of a rune token is interchangeable, similar to the ERC-20 token standard, thereby facilitating the integration of additional financial attributes into Bitcoin.
The deployment of the Runes Bridge on both the testnet and mainnet is set to expand the application of Runes assets.
SatoshiVM Enables Users To Stake SAVM-BTC LP Tokens For Runes Airdrop Rewards Post Bitcoin Halving
The news comes in the wake of the fourth Bitcoin halving, which occurred over the past weekend. Now, users can anticipate improved transaction efficiency for Runes across both Bitcoin and SatoshiVM. Moreover, transaction fees for trading Runes on SatoshiVM have decreased. Early liquidity providers for Runes assets now have the opportunity to earn SAVM rewards, while users can receive Runes airdrops by staking SAVM-BTC LP tokens.
SatoshiVM operates as a Bitcoin Layer 2 solution that aligns with the Ethereum Virtual Machine (EVM) ecosystem, utilizing native BTC as gas. Bridging the Bitcoin and EVM ecosystems integrates the value anchoring of BTC with the programmability of EVM, thereby opening up possibilities for the advancement of the new ecosystem. SAVM operates as the native token for SatoshiVM, boasting a total supply of 21,000,000 tokens.
SatoshiVM unveiled its Alpha Mainnet in March. Recently, it expanded its offerings to include price feeds such as SAVM-USDT, BTC-USDT, ETH-USDT, ETH-BTC, and USDT-USD. Utilizing Supra Oracle technology, these feeds provide users and developers with up-to-date and precise market information.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
