Rune 0: UNCOMMON•GOODS
"UNCOMMON•GOODS" is the name given to Rune #0, which is the first token within the Runes protocol on the Bitcoin blockchain. Here's a breakdown of what this entails:
Background:
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Creator: UNCOMMON•GOODS was developed by Casey Rodarmor, who is also the creator of the Ordinals Protocol, which introduced the concept of inscribing data onto individual satoshis (the smallest unit of Bitcoin).
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Nature of the Token: It was introduced as a memecoin, meaning it does not have a specific utility or function beyond being a collectible or speculative asset.
Key Features:
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No Presale or Pre-mining: Unlike many other tokens, UNCOMMON•GOODS had no pre-sale or pre-mining phase, ensuring a fair launch where everyone has an equal opportunity to mint the token.
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Minting: The minting of UNCOMMON•GOODS began at the Bitcoin halving at block 840,000 and was set to run continuously for 4 years until the next halving. There was a limit of one mint per transaction, with a theoretical maximum of approximately 7,751 mints per block.
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Supply: The theoretical max supply is vast, potentially over a billion, although the actual supply would likely be much less due to the minting rate and block space limitations.
Significance:
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Monumental Value: Being the first token of the Runes protocol, it holds a symbolic value. It's often considered a "monumental" or "historical" token due to its position as Rune #0.
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Community Engagement: UNCOMMON•GOODS has been a topic of discussion and engagement within the Bitcoin community, especially among those interested in memecoins and the new possibilities introduced by the Runes protocol.
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Trading: It has been listed on various exchanges, including Gate.io, where it can be traded against USDT. The token has seen trading activity, with its price and market cap fluctuating based on market sentiment and Bitcoin's performance.
Current Status:
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As of January 17, 2025, UNCOMMON•GOODS has a significant holder count, making it one of the top runes by this metric. However, it has been surpassed by other runes in terms of mints, like COOK•THE•MEMPOOL.
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It's worth noting that while UNCOMMON•GOODS started as a memecoin with no intrinsic utility, its value lies in its historical significance within the Runes ecosystem and Bitcoin's broader narrative around token standards.
Conclusion:
UNCOMMON•GOODS represents not just a token but a milestone in Bitcoin's evolution towards supporting more complex digital assets. Its longevity and the community's response will be telling of the broader acceptance and integration of such tokens into the Bitcoin ecosystem.
For the latest updates on UNCOMMON•GOODS, including its price, trading volume, and market cap, you might check cryptocurrency market trackers like CoinMarketCap or CoinGecko.