RuneChain: The "Decentralized Binance" for Runes Where will you trade runes in 3 days? AMM is too difficult for normies. L1 is too slow. CEX is too centralized. So, we build a fast, cheap & decentralized trading protocol for runes. → runechain.com A DEX with CEX experience * On-chain order books * On-chain market orders * On-chain limit orders A scalable Bitcoin L2 performance * 2-second transaction time * $0.001 transaction fee * 700 transactions per second A game-changing crypto UX for mass adoption * Self-custody account abstraction * Trade runes on mobile With RuneChain, you’ll be trading runes on a DEX with CEX experience, both on desktop and mobile. Previously, this wasn’t possible for Bitcoin due to high network fees and slow 10-minute block time. But RuneChain is a fast, low-cost Bitcoin L2 powered by @BVMnetwork. We believe this will onboard many users who are more familiar with CEX and who come from TradFi. On-Chain Order Books RuneChain's on-chain order books are a set of smart contracts that facilitate peer-to-peer market making and market taking of runes. An on-chain order book is fundamentally an on-chain list that includes current buy orders and sell orders for a particular rune. On the RuneChain website, the order book is split vertically on the screen: asks are displayed in red at the top, and bids are shown in green at the bottom. It displays not just the prices that buyers and sellers are prepared to accept but also the amount they wish to purchase or sell at those prices. On-Chain Market Orders An on-chain market order is a buy or sell order that executes immediately against the Order Book smart contracts at the best available market prices. If you prioritize quick execution over precise pricing, consider using a market order. This type of order executes immediately at the best available price: the lowest for buyers and the highest for sellers. Market orders are ideal when prices are volatile, and you need to act fast. On-Chain Limit Orders An on-chain limit order allows you to specify the maximum price you're willing to pay; the order will only execute against the Order Book smart contracts at this price or a more favorable one. Suppose $WZRD is trading around $10, but you believe the price might drop. Instead of buying immediately, you could place an on-chain limit order to purchase 1 $WZRD at $9. This means you would only pay $9 per $WZRD rather than the $10 you might pay with a market order. Limit orders are ideal for trading large quantities as they guarantee that you only pay the price you want as it becomes available. However, the drawback is that there's no assurance your order will be executed if the market price doesn't meet your specified level. Rune Bridge Rune Bridge enables the transfer of runes between Bitcoin (L1) and RuneChain (Bitcoin L2). While you can trade runes on L1, the user experience isn't ideal, with 10-minute block time and expensive transaction fees. Once you bridge runes from Bitcoin to RuneChain, you can trade runes, with 2-second block time and $0.001 transaction fee. The first version of the Rune Bridge is multi-sig, so use it at your own risk. Trustless bridges are complex crypto problems. We're working on a more decentralized solution, and actively researching other solutions like BitVM, OP_CAT, or Stacks Bridge. We think we're getting close to a temporary "sufficiently decentralized" solution. We'll share the design in a few weeks. See you at the Runes launch at block 840000 RuneChain will launch at the same time as the Runes launch at block 840000 (around April 19 or April 20, 2024). Let's kick off Bitcoin DeFi summer by bringing Bitcoin's memetic power to the people. See you in 3 days! 🫡 PS: please remember to "activate" your Runers.