Runes is built on a strong decentralized foundation, with an on-chain Runes indexer, REE (Runes Exchange Environment) for advanced Bitcoin programmability, and an ICP Bitcoin subnet that provides robust infrastructure.
Runes is at the center of the authentic Bitcoin memecoin scene, with major project names including DOG, MIM, PUPS, and BDC evolving from mere symbols into real-time cultural pillars.
The true alpha version: The revival of BTCFi is actively deploying on Runes, with pioneers including ODIN FUN, Blockminer.fun, Bitomni, RichSwap, and Liquidium, now building the DeFi future of Bitcoin.
Runes Meme Coin: The Core of Bitcoin Cultural Prosperity
MiX: In terms of Bitcoin memecoins, Runes has set the standard, which is a broad consensus, as they lead in scale, diversity, participation patterns, and ecosystem vitality.
Tokens such as DOG, MIM, PUPS, and BDC have garnered widespread attention, thriving on the cultural significance of Bitcoin, blending humor, community engagement, and speculative appeal.
For example, the Runes DOG has cultivated a highly enthusiastic community known as the 'DOG Legion,' which is unique in the cryptocurrency space, achieving significant milestones on Bitcoin with Leonidas NFT.
It maintains the characteristic of being fully decentralized. Notably, it is the first Rune coin to be listed on the spot market of a mainstream centralized exchange (CEX) without charging any transaction fees, marking not only the success of Rune but also the success of the Bitcoin ecosystem and the entire cryptocurrency field's memecoins.
Runes Infrastructure: Unique
The infrastructure of Runes is very impressive, providing a decentralized and efficient framework that sets it apart from other Bitcoin asset protocols.
Decentralized Runes Indexer
Among the many FT asset protocols in the Bitcoin ecosystem, the Runes protocol is the only one with a decentralized indexer, making it a key component for achieving decentralization in the Runes ecosystem's DApps.
Omnity Hub
Omnity Hub facilitates cross-chain transfers of BTC and Runes, connecting dozens of chains including ICP, Solana, Sui, Ton, Osmosis, Bitlayer, and Base.
It has enabled various cross-chain interoperability features for the Runes protocol. For example, Odinfun running on ICP can utilize Omnity Hub to etch, mint, transfer, and destroy Runes on the Bitcoin mainnet. Notably, the decentralized Runes indexer is a key component of the Omnity Hub.
REE (Runes Exchange Environment)
REE is an innovative Bitcoin programmability extension protocol that introduces a novel DPS (Decentralized PSBT Signing) method, enabling truly decentralized, fully on-chain, Turing-complete smart contract functionality on the Bitcoin mainnet without asset bridging.
Got it? The key infrastructure of the Bitcoin ecosystem - we are talking about Runes Indexer, Omnity Hub, and REE - is fundamentally built on or deeply integrated with ICP technology.
MiX: ICP has effectively become the main layer for value overflow and functional expansion for Bitcoin.
BTCFi Dapps: The Runes Revolution
Starting in 2025, the wave of innovation in the Bitcoin ecosystem - centered around ICP's Chain Fusion technology and the REE (Bitcoin Programmability Extension Protocol) of the Omnity Network - is rapidly developing:
OdinFun
Pump.fun, beyond the Bitcoin ecosystem, has now evolved into a full-chain Launchpad + DEX based on a chain abstraction architecture, using BTC as the medium of transactions.
RichSwap
RichSwap is a truly decentralized AMM DEX on the Bitcoin mainnet, aiming to become the preferred liquidity center on the Bitcoin mainnet. It is built on REE and introduces innovative economic models such as 'donations' to enhance the liquidity of the ecosystem.
The code for RichSwap is now open source:
https://x.com/RichSwap_REE/status/1902229084949959102
Blockminer
Blockminer has launched a new method for issuing memecoins through a POW mining model. They have also innovatively developed an Automatic Liquidity Program (ALP) to address the common liquidity scarcity issues in fair issuance within the Bitcoin ecosystem - achieving a true win-win.
Tyche
Based on the mechanism of Pump.fun, Tyche introduced a lottery mechanism when the internal launch progress reached 50%, 60%, 70%, and 80%, giving Runes holders the chance to win generous prizes determined by on-chain random numbers. The participation is extremely high and seems to accelerate liquidity supply, even surpassing the efficient model of Pump.fun, with promising future performance.
Liquidium
Liquidium has firmly established its position as a leading lending platform in the Bitcoin ecosystem, with trading volume climbing every month. It is even venturing into the multi-chain lending market, offering features such as stablecoin swaps.
Notably, these BTCFi applications primarily leverage ICP's Chain Fusion technology and REE technology architecture.
Keep in mind that the Bitcoin ecosystem lacks central infrastructure, and the adoption of this technology stack reflects the collective consensus of developers, stemming from extensive research and iteration.
In fact, this wave of Bitcoin innovation is largely attributed to the public chain technology stack of ICP, enabling fully on-chain, truly decentralized BTCFi applications. The REE architecture itself is also built on ICP's ChainFusion technology.
ICP and REE: The innovation of Runes starts here
An increasing number of Bitcoin ecosystem developers are choosing the ICP technology stack, mainly due to the following three major advantages:
1. Network effects brought by composability
Since April 2024, when Omnity Hub utilized ICP ChainFusion technology to implement its Runes cross-chain bridge and Runes Indexer, we have witnessed a rapid release of a series of products: Odinfun launched in January 2025, Blockminer on February 7, REE and RichSwap linkage on February 8, and Tyche on May 25. This rapid release pace has attracted more ecosystem participants and significantly enhanced network effects. To my knowledge, Tyche went from project launch to full operation in just a month, which fully demonstrates the increasing maturity and robustness of the ICP, Omnity Hub (Runes Indexer), and REE infrastructure.
2. Liquidity Integration
The ICP stack helps simplify the integration and interaction of liquidity between different applications. For example, tokens issued by Blockminer will primarily use RichSwap as the trading platform, while Blockminer will continuously introduce liquidity to RichSwap.
3. Collective Security Advantages
In terms of security, projects within the ecosystem can share security intelligence and coordinate upgrades. If one project faces an attack, multiple entities can initiate a joint response, thus building a stronger collective defense mechanism against potential threats.
Moreover, REE is becoming a key technological solution for innovation in BTCFi applications:
Its outstanding features allow developers to build BTCFi applications directly on the Bitcoin mainnet: REE provides enhanced smart contract functionality for the Bitcoin mainnet. Crucially, users' BTC assets are always kept on the Bitcoin mainnet during the operation of the REE protocol without the need for bridging, significantly enhancing asset security, with RichSwap being a prime example.
REE also provides robust support for BTCFi applications built on ICP's core functionalities: it offers developers seamless adaptation of BTC wallet and address types, as well as a secure, efficient, and transparent BTC deposit and withdrawal experience. For example, Tyche used REE during its testing phase, allowing every user's BTC transaction to be publicly verified on-chain via runescan.net, greatly enhancing user trust.
REE significantly lowers the development threshold: the UTXO model of Bitcoin and the container smart contracts of ICP have relatively high learning curves. REE, as a crucial SDK, greatly simplifies the development process of BTCFi, allowing developers to focus on innovating business logic and user experience.
The Runes ecosystem is significantly driving the evolution of Bitcoin, propelled by its vibrant memecoin culture, robust infrastructure, and key technologies such as ICP's ChainFusion and Omnity's REE, pushing Bitcoin into a new chapter.
#BTCFi #Runes符文 #ICP生态 #OdinFun
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