RUNES GENESIS

Runestones

As we close out of our LBP with Copperlaunch, we think it’s time to clarify more about Runes. Runes will operate as a high yield passive income model for the Jarl token. When creating a Rune as mentioned beforehand, it will require you to sacrifice Jarl and USDC. The Jarl will be burned and taken out of supply but will be reintroduced overtime with the 30% dedicated for rewards. However, once the 30% is depleted, the minting function of our v2 contract will be enabled and will continue adding to the reward rates.

Now the question you’ve all been waiting for, how many Jarls and USDC does it take to make a Rune…It will require twelve Jarl tokens for the first 50,000 Runes. Once the threshold of the first 50,000 Runes is reached, the next 50,000 will require two additional Jarl for creation and the process of steady incrementation will continue until 500,000 Runes. Having this steady increase in token sacrificing will help keep token distribution as scarce as possible early on and award early builders by having the best possible ROI for their loyalty.

Now onto USDC. You’re probably wondering why Jarl Labs is requiring USDC for Rune creation? The USDC provided by the Rune builders will collectively go into a pool that will be used for Blessings and revenue injection. Before going too deep into Blessings and revenue injections, Jarl Labs will be requiring an initial $7 in USDC for Rune creation. This initial fee will cover the first month of your Rune, but additional fees will be required to keep its status active.

The first use case for the USDC will go towards Blessings. Blessings is a USDC redistribution function that will give Rune creators a portion of their USDC back at the end of every month. This will allow creators the option of holding their USDC on chain to avoid any additional gas fees until they have enough USDC to pay for their monthly tribute. The second use case is for revenue injection. A major hurdle for most DeFi projects is the lack of outside funding. However, with Runes giving us access to our own form of capital management, it will allow the protocol to branch out into other sectors and invest accordingly to increase the overall value of all Jarl Lab products.

Finally, the reward rates for our Runes will be 0.125 Jarl per Rune. This current reward rate will stay in effect until we release more information about “The Pillaging”.

Please see GENESIS