FAQs
🟆 What is RuneShot?
RuneShot is the ultimate decentralized platform for effortlessly launching, trading, and memeing Bitcoin tokens (Runes) and beyond. Built on RuneMine’s cutting-edge tech stack and powered by NEAR Protocol, RuneShot offers creators and users a faster, more cost-effective, and secure way to interact with the Bitcoin ecosystem. Whether you're launching a new Rune, trading across multiple chains, or engaging with the community via our RuneShot bot, RuneShot is designed to redefine the landscape of Bitcoin token launches with seamless multi-chain support.
🟆 What is RuneMine?
RuneMine is the first and only audited multi-chain bridge specifically designed to connect the Runes Protocol, Solana, and BTC L2s, expanding the Bitcoin ecosystem. It’s a swiss army knife of products to manage your Runes, activating billions in untapped Bitcoin assets for dynamic use in DeFi. RuneMine is part of the Mine Labs initiative, and it integrates with RuneShot to provide a comprehensive solution for bridging, trading, and managing Runes across chains.
🟆 What wallet do I need?
None! One of the most powerful features of RuneShot is that you don’t need a wallet to get started.
RuneShot automatically generates a smart account (a NEAR address) based on your browser. No signups, no wallet extensions — just visit the site and your account is ready.
To fund your account, you can send:
BTC from any Bitcoin wallet (we recommend Xverse) to your BTC deposit address
wBTC (wrapped BTC on Solana) from a Solana wallet to your wBTC deposit address
(Wormhole wBTC)
nBTC (wrapped BTC on NEAR) from any NEAR wallet directly to your RuneShot address
(If self-funding nBTC to your RuneShot address, also make sure to send a small amount of NEAR to initialize the account. This is usually done automatically by RuneShot deposit, but need to be done manually if not already initialized/)
You must ALWAYS generate a fresh deposit address when making a deposit to your RuneShot account.
Deposit addresses are one-time use only and will expire 6 hours generation. To send more funds to your account generate a fresh address which will send the funds to your RuneShot account..
Check that you are sending the correct asset to the deposit address, and that the deposit address is fresh and it is the first time you are using it.
If you generated the deposit address earlier, you have to use it within a 6 hour window before it expires.
Do not send more than one transaction to any deposit address. If you do so you will most likely lose the funds as only the first transaction is automatically bridged to your RuneShot account/address.
Our bridging infrastructure (via MineBridge) will automatically convert BTC and wBTC into nBTC for use on RuneShot — no extra steps needed.
All transactions appear as BTC in the interface, but are settled using nBTC behind the scenes on NEAR. The experience is seamless, and you never need to worry about bridging or wrapping yourself — RuneShot handles it for you.
🟆 Do I need gas?
No, RuneShot does not require traditional gas fees for most interactions, thanks to NEAR Protocol’s account abstraction. This makes launching, trading, and managing Runes more cost-effective and user-friendly. However, be aware of any platform fees associated with specific actions, such as launching a Rune.
All you need is Bitcoin.
🟆 What are Runes?
Runes are fungible tokens on the Bitcoin blockchain, created using the Runes Protocol. Unlike previous token standards, Runes maintain all transactional data on-chain, utilizing the OP_RETURN function to embed data directly into Bitcoin transactions. This ensures efficiency and security. Runes can be utility tokens, memecoins, or other digital assets, and RuneShot supports their launch and trading, including legacy Runes as part of the ecosystem.
🟆 How does RuneShot execute so fast?
RuneShot leverages NEAR Protocol’s infrastructure, which provides 1.3-second finality and eliminates traditional gas fees through account abstraction. This setup ensures lightning-fast execution for token launches, trades, and interactions, making RuneShot one of the quickest platforms for Bitcoin-based DeFi activities. The integration with NEAR also supports decentralized deposits and withdrawals, enhancing speed and security.
🟆 What is a bonding curve?
A bonding curve is a mathematical function that dynamically adjusts a token’s price based on its supply. In RuneShot, bonding curves are used to bootstrap new tokens, allowing for automated liquidity and price discovery without traditional order books. As more tokens are purchased, the price increases, and vice versa. This mechanism ensures continuous liquidity and efficient trading.
More on RuneShot's bonding curve experience here.
🟆 What are liquidity pools?
Liquidity pools are smart contracts that hold reserves of two or more tokens, enabling decentralized trading via automated market makers (AMMs). In RuneShot, liquidity pools facilitate trading after a token bonds, where a portion of the token supply and Bitcoin are deposited to allow instant swaps. This happens on Rhea Finance, the leading DEX on NEAR Protocol. Users can add or remove liquidity, contributing to the pool’s depth and trading efficiency.
🟆 How do I withdraw tokens from my RuneShot wallet?
Withdrawing tokens from your RuneShot wallet is straightforward.
Navigate to the Profile section, select 'Withdraw' on the tokens you wish to withdraw.
The UI will handle the necessary conversions (e.g., nBTC to BTC) behind the scenes, providing a seamless experience.
You must ensure to enter the correct receiving address for your tokens, ie. Bitcoin address for BTC and so on.
This is also helpfully pinned to the UI modal when you withdraw.
🟆 Are we audited?
Yes, RuneShot is part of the RuneMine ecosystem, which has twice undergone comprehensive audit by Halborn, a premier blockchain security firm. This audit, announced in May 2024, extended deep into the architecture of RuneMine’s Bitcoin <> Solana Runes Bridge (MineBridge), ensuring security for the entire infrastructure.
Additionally, the EVM branch of the MineBridge undewent an audit by blockchain security leaders Sherlock in the latter half of 2024. RuneShot itself has been audited by BlockSec, a leading Web3 security provider known for its thorough smart contract audits and risk prevention tools, and auditors of Rhea Finance and SatoshiBTC. This dual-layer audit process underscores our commitment to security, providing users with confidence in the platform's smart contracts and core functionalities. We continuously strive to maintain the highest standards of trust and transparency.
🟆 Why NEAR?
NEAR Protocol is chosen for its speed, scalability, and account abstraction capabilities, which align perfectly with RuneShot’s mission to offer a user-friendly, multi-chain DeFi experience. NEAR’s near-instant finality reduces barriers for users, while its decentralized nature ensures security and trustlessness. This partnership enables RuneShot to bridge Bitcoin and other chains seamlessly, fostering a vibrant ecosystem.
🟆 What is account abstraction?
Account abstraction is a feature of NEAR Protocol that simplifies user interactions by abstracting away complex wallet setups and gas fees. It allows users to engage with RuneShot without needing to handle traditional blockchain transaction nuances, making the platform more accessible. This means you can launch, trade, and manage Runes with ease, focusing on the experience rather than the technicalities.
🟆 What are Legacy Runes (OG Runes)?
Legacy Runes are any Runes that exist on the Bitcoin blockchain up to this point, including popular examples like DOG•GO•TO•THE•MOON, PUPS•WORLD•PEACE, and MAGIC•INTERNET•MONEY.
These are established tokens within the Bitcoin ecosystem, and RuneShot supports their interaction, offering additional utilities or trading options compared to their original state.
🟆 What is RuneShot Bot?
RuneShot Bot is our Telegram mini-app, currently in its referral and quests stage. It’s designed to engage the community with daily tasks and XP earnings, fostering a vibrant ecosystem.
Eventually, the bot will integrate the entire RuneMine tech stack directly into Telegram, allowing users to access the full suite of RuneMine tools without leaving the platform. This is planned to include tgBTC deposits, enabling seamless Bitcoin interactions within Telegram, and enhancing the overall user experience.
Last updated