The awaited fourth Bitcoin halving has finally happened on April 20 and the block-rewards went from 6.25 BTC to 3.125. At the same date the Rune protocol, that was created by Casey Rodamor, has been started. It offers Runes that are unique fungible tokens on the Bitcoin blockchain. The hype is big around it so it’s a good timing to understand them and join the hype train. There are some possibilities to farm runes and in this article we introduce you Stakeland, where you can farm those Runes by completing quests and/or stake $MEME tokens. Let’s see how to farm those Runes.
How To Farm Runecoins On Stakeland?
Whether if you are new to crypto farming or an advanced one, Stakeland offers a super-easy way to collect Runecoins. Stakeland was created by the Memeland project, that was started by Ray Chan, the CEO of 9GAG in 2021. But first things first, there are two ways to farm Runecoins, by doing tasks on Stakeland: simply stake $MEME tokens or doing quests.
- You need an EVM compatible wallet to join Stakeland (we recommend using MetaMask). Just go MetaMask, install the wallet as a browser extension and then create your own wallet. When you create it make sure that you write your 12 words recovery phrase offline. That’s a key element of crypto wallets as whoever knows it can access the wallet.
- Go to Stakeland and connect your wallet. Now you can choose “FARM” or “STAKE” at the upper menu. By clicking “FARM” you can complete all the available quests (mostly social ones) and collect STEAKs. Actually they are pretty easy and well guided clicks like share/like on twitter. When you go through this process a guide will tell you about the need of a BTC wallet. Stakeland and we both recommend you the Xverse wallet. Make sure that you copy/paste your Ordinals address instead of your BTC address.
- An other option to get Runecoins if you stake your $MEME coins. If you don’t have them, you can buy on Binance then withdraw to your MetaMask wallet on the Ethereum network. Or if you have already have any asset in your wallet (like ETH or USDC), you can use UniSwap to swap some token to $MEMEs. Make sure you choose the original Memecoin with the “MEME” tag. Now you are ready to stake them. Stakeland gives 1:1 STEAKs/week for $MEMEs.
That’s it, you did all you can do at the moment. However it worth check back sometimes as new quests will be added to farm.
What Is Stakeland and Memeland?
Stakeland is a social staking platform created by Memeland, aimed at boosting the $MEME coin ecosystem. It offers a no-fee environment where users can stake $MEME or other cryptocurrencies. This participation lets users earn new tokens either by completing quests or through staking directly. Stakeland focuses on getting the community involved and making sure tokens are shared fairly, appealing to both beginners and seasoned crypto users. The Runecoins team has allocated 2% of their total Rune supply for distribution via Stakeland to help educate new users about the Runes ecosystem. Earlier, Runecoins had airdropped 21,000 RSICs to users active in the Bitcoin Ordinals space, increasing commitment and fairness in token distribution.
Memeland was started by the same team that created the popular platform 9GAG. It is a web3 venture that brings creators and communities together through projects that use $MEME tokens and NFTs. Leveraging 9GAG’s large following, Memeland quickly drew a lot of attention and investment, highlighting the strong impact of meme culture in the crypto world. The project’s goal is to develop and invest in social products that encourage community interaction and creativity, with the $MEME token playing a central role.
Introducing the premier project on @Stakeland!
Meet Runecoin (@rune_coin), a pioneering fungible token project on Bitcoin that uses the new Runes Protocol developed by Casey Rodarmor, the creator of Ordinals.
Farm Runecoin by completing quests or staking $MEME (@Memecoin) or… pic.twitter.com/JZGOY2kqGn
— Memeland ❤️ Memecoin (@Memeland) April 16, 2024
Integrating Stakeland into Memeland’s broader ecosystem is a strategic step to enhance the value of the $MEME token and deepen community engagement. By participating in Stakeland, users not only support new projects but also get early access to tokens that could be very valuable in the future. This supports Memeland’s objectives of fostering innovation and empowering the community.
What Are Runecoins?
Runecoins created through the Rune protocol on the Bitcoin blockchain. They are fungible tokens, so each Runecoin can be used interchangeably. This makes them similar to conventional currencies or shares of a company, where each unit holds the same value and properties as another, just like FIAT coins.
The Rune protocol allows for the creation and management of these tokens by using Bitcoin‘s existing infrastructure. Runecoins use Bitcoin’s Unspent Transaction Output (UTXO) model, which makes sure that all transactions are securely recorded and easily traceable. This model also helps in maintaining the decentralization and security of the Bitcoin network.
One of the unique features of Runecoins is their ability to be integrated with the Lightning Network. This integration offers faster and cheaper transactions than traditional Bitcoin transactions, which can sometimes suffer from slow processing times and higher fees due to network congestion. By using the Lightning Network, Runecoins can provide users with a more efficient means of trading and using digital tokens.
The Bottom Line
Stakeland is a great opportunity to everyone to make early positions in new projects’ tokens claiming. As it is in its v0 phase there is a lot of space to improve, however the project has already its fundamental features. As they writes, upcoming launches include new tokens, staking tiers, leaderboard and more! We think participating in this project is highly recommended and it’s also an enjoyable way to engage in farming.
