Rune Market
Trade Runes confidently and seamlessly with the Rune Market’s secure infrastructure. Our native marketplace operates entirely on the Bitcoin blockchain, fostering peer-to-peer exchange of Rune tokens without the need for intermediaries. Transactions are conducted transparently, with each deal adhering to predefined edicts for maximum trust and efficiency. The Rune market relies on an offchain script on a server which defines the terms of the swap transaction before publication to the Bitcoin network because doing this onchain with Bitcoin scripts will fail due to its immutable nature. The bitcoin address must hold the Runes needed by the user so everything needs to be predefined. With this in mind, the Rune Market builds a multi-signature public key and multiple private keys to allow participants who have the requested Rune tokens to supply their UTXOs and get rewarded at the end of the transaction instantaneously. Moving assets defined in the script rely only under 2 conditions:
- All participants must agree to move UTXO spendings to a single address.
- Issuer of the transaction can only move UTXO spendings to own address. Not all spendings go to the issuer’s address. A portion of it goes to all participants who contributed to making the transaction work. I.e if Michael wants to receive 10 custom Rune tokens. Other participants can raise individually 1, 2, or 7 of the custom Rune tokens. The script handles the additions and gives back the unspent amounts and reward to participants.
Why not a Direct Transfer?
Although doing a direct 10 custom Rune transfer to the issuer is possible this will take a lot of time for the transaction to be validated because the probability of a participant giving the exact same amount of Runes the issuer wants is low and remember, everything has to be predefined beforehand else the transaction will be rejected.
The beauty of this offchain script is that it still falls under the trustless as no one can manipulate the outcome of the already published transaction.