Ad Free: April 24: Bitcoin Runes, Investors leaving Lido & Do Kwon should get $53b fine

Today’s News👇

https://decrypt.co/227748/bitcoin-rune-name-rules-long-weird 

https://www.dlnews.com/articles/defi/why-investors-withdrew-2bn-in-ether-from-staking-giant-lido/ 

https://dune.com/hildobby/eth2-staking 

https://www.coindesk.com/policy/2024/04/23/do-kwon-terraform-labs-should-get-53b-fine-sec-tells-court/ 

Since its launch on April 20, the Runes protocol has seen over eight thousand “etchings”—the preferred term for the deployment of Runes tokens—created on the Bitcoin blockchain, according to Ordinals and Runes launchpad Luminex.

One trend that you might have spotted quickly and thought about is those long and unusually formatted names. You could see these ridiculously long and all capitalized token names like “SYMPATHETIC•PARAMUTUALISM” and “WANKO•MANKO•RUNES.”

The names of Runes may seem odd, but creators say there’s a good reason. A minimum name length is built into the Runes protocol to prevent so-called name squatting. Basically to avoid any trademark infringement. According to the protocol's rules, the minimum number of letters is reduced by one character every 17,500 blocks, creating an increasingly dynamic naming environment.

What do you think about this trend? I think it’s a bit too early to decide, but I know you degens out there might be ape-ing in. I’d love to know if there’s any tokens that are worthwhile for us to cover. sarah@dailycryptonews.net