The Captainz NFT Creator Memeland Introduces Runecoins Farming On Stakeland

Updated: 17 April 2024

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Runes, a new Bitcoin-based fungible token protocol and potential alternative to the popular BRC-20 token standard, continues to take many crypto projects, traders, and collectors by storm. Memeland, the creator of the Captainz non-fungible token collection, is the latest crypto project to join the Runes ecosystem hype train.

Memeland Introduces Runecoins Farming on Stakeland

In an April 16 blog post, Memeland confirmed introducing Runecoins farming, a pioneering fungible token project on the Bitcoin network that uses the new Runes Protocol developed by Casey Rodarmor, to its premier staking project, Stakeland. Traders can now farm Runecoins by staking $Meme.

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

Launched in 2008, Memeland is a Web3 venture studio created by 9GAG, the popular Hong Kong-based meme-centric entertainment company. The Web3 venture studio came to the spotlight last year after launching The Captainz, a non-fungible token collection featuring a limited supply of 9,999 NFTs hosted on the Ethereum blockchain network.

Earlier last month, Stakeland, a new social staking protocol with a strong community focus, was launched. It aims to bolster the Memeland ecosystem and accelerate the growth of the associated meme coin, $MEME. By staking crypto assets like $MEME or other digital assets, users can earn tokens from new projects, participating in early project stages to garner rewards at minimal costs.

Stakeland allows crypto users to stake $MEME and other crypto assets in exchange for Steaks, which are then “burnt” to acquire new tokens launched on the platform. The process also involves participating in simple, fun quests to learn more about these new projects and supporting new ventures with a committed community base.

I am not under any pressure from @9gagceo to tweet this:

Big win for @Memeland! 👨🏽‍🌾 https://t.co/klqc4CtBWt pic.twitter.com/CyuCuWFEjz

— Sandeep | AggLayer 👿 (@sandeepnailwal) April 16, 2024

Runecoins To Distribute 2% Of Its Supply Via Stakeland

Under the new integration, the Runecoins team has announced that 2% of the total rune supply will be distributed via Stakeland to educate and onboard new folk to the Runes ecosystem. This percentage comes from the Runecoins team allocation in January 2024.

Earlier this year, Runecoins airdropped 21,000 digital inscriptions, dubbed RSICs, to active users in the Bitcoin Ordinals space since its inception a little over a year ago. At the time, the RSICs, which stand for Rune Specific Inscription Circuits, were airdropped to more than 9,000 Bitcoin wallets.

In the meantime, Runecoins has inscribed the code for the halvening allocation so that anyone can reproduce it and confirm it is fair. This covers both pooled and solo RSICs. However, input data will be inscribed later. The highly anticipated Bitcoin halving is scheduled to happen later this week.