RUNES•PUNKS•ID•X is a Runes token issued on the Bitcoin chain based on the Bitcoin Runes protocol. The Bitcoin Runes protocol is a token standard for issuing fungible tokens on Bitcoin that seeks to provide users with a more efficient way of creating fungible tokens. Runes launched in April 2024 on block 840,000, coinciding with the Bitcoin halving.

Bitcoin developer Casey Rodarmor proposed the Runes protocol in September 2023 as an enhanced token standard for issuing fungible assets on Bitcoin. Rodarmor characterizes Runes as a straightforward protocol with minimal on-chain footprint and responsible management of Unspent Transaction Outputs (UTXOs). UTXOs are individual units of Bitcoin value linked to specific addresses on the blockchain, representing funds that have not yet been spent and can serve as inputs in new transactions.

Runes differ from the BRC-20 token standard, which is complex and not UTXO-based. The latter characteristic causes the BRC-20 token standard to generate excessive junk UTXOs, leading to congestion on the Bitcoin network. The goal of Runes is to replace the less efficient Ordinals-based BRC-20 token standard. Additionally, the Runes protocol aims to outperform other existing fungible token protocols on Bitcoin, such as RGB and Taproot Assets, which rely on off-chain data.

2. Deployed Runes can be found on Unisat's Explorer interface (unisat.io/runes/list), allowing tracking of each token's progress; users can select RUNES•PUNKS•ID•X tokens that are in progress but not yet fully minted.

3. Enter Runes token RUNES•PUNKS•ID•X details interface (unisat.io/runes/detail/RUNES•PUNKS•ID•X), click Mint Directly or select Runes in the inscribe interface (unisat.io/runes/inscribe). Click Mint, enter the Rune name RUNES•PUNKS•ID•X, and specify the mint quantity.

4. Then, enter your own bc1p address in the To Single Address field. Typically, your connected address will appear automatically after clicking it. When selecting the gas fee, you may need to check the current block in the mempool and the mining fee of the previous block to adjust it accordingly. If necessary, you may need to increase the gas fee to ensure timely processing.

5. You can then proceed to pay using Pay with BTC or Pay with Wallet. The former involves scanning or copying the code to pay using other wallets, while the latter uses the wallet connected to the Unisat website. After signing and making the payment, you'll need to wait for the block to be confirmed. You can view the transaction in your wallet once the transaction is complete.

6. When you have Rune assets to sell or want to buy Runes directly in the trading market, you can enter the marketplace interface (unisat.io/runes/market) and select the token you wish to buy or sell. Similar to the BRC-20 process, you can view transaction records under Order.