How to Etch & Mint Runes: A Step-by-Step Guide

Runes are taking the Bitcoin world by storm, giving users a new way to create fungible tokens on top of Bitcoin. 

In this guide, we’ll cover the basics of creating Runes, which includes etching and minting, plus how to trade them on the Magic Eden marketplace!

The Role of Etching & Minting in the Runes Protocol

Etching and minting refer to the two phases in the launching and distribution of runes (made possible through the Runes Protocol).

Etching is the process of creating new tokens. During the etching process, you specify the name, the mintable amount in one transaction, the token supply cap, whether or not you want to reserve some tokens for yourself and more. You’re basically defining the rules of your new token; everything about the way it appears and is distributed is set up in this step.

‍Minting refers to how users generate tokens based on terms defined during etching. While Runes are etched by their original creator, anyone can mint them to receive the tokens.

Etching Your Mark on Bitcoin: How to Etch Runes

Etching is a pretty straightforward process, but you need to double-check all the parameters you set because they can’t be changed afterward.

Here are the main things you'll need to define:

• Rune: Name your token. The first Runes names were at least 13 characters long. However, every 17,500-block period, or around every four months, this limit is decreased by one character. This process repeats until you can create Runes with just one character. 
• Symbol (optional): Pick a symbol for your token. Use a character, an emoji or just skip this step. In that case, know that your token will be assigned the generic currency character (¤).
• Terms:
  • Amount: This is the amount that is mintable in a single go, also called United Per Mint.
  • Cap: The total amount of tokens to be minted, or Max Supply. So remember– once they’re all minted, no more can be created.
  • Divisibility (optional): You can either keep your token whole, so not divisible, or set any amount of divisibility so users can have just a piece of the token. In the Luminex Ordinals launchpad, which partnered with Magic Eden, the option is called Decimals, which can also be set to zero.‍
• Premine: If, for any reason, you want to reserve a certain number of tokens for yourself, you need to set that amount during etching. In Luminex, this is the Reserve Supply option: click the checkmark next to it and it’ll bring up a window where you can enter the amount you want to reserve.

But how long does it take? Well, be patient, as Runes etching takes six Bitcoin blocks, or around 60 minutes, to complete. So, keep in mind it’s not instantaneous. Once that’s done, the road to minting is clear.

Ready to etch your Runes? You can use a platform like Luminex. Luminex is a Bitcoin asset launchpad you can use to inscribe Ordinals and etch and mint Runes. On Luminex, just connect your Magic Eden Wallet and create your own Runes token by etching it first and then moving on to minting it. 

Let the Minting Magic Begin: How to Mint Runes  

If you want to get tokens that have already been etched and are available for the public, you can mint them. 

However, not all tokens can be minted: their creators can keep the entire supply to themselves, or the supply cap may be already reached by others. But don’t worry! In that case, you still have an option to trade them.

As long as minting is available, you just set the amount you want to mint, pay the fee, and voila—your tokens are created. Otherwise, you will need to purchase your Runes on a specialized NFT marketplace or runes exchange like Magic Eden.

On Luminex, for example, you’ll be asked for the Rune ticker and the number of mints. These are separated into pre-split and auto-split options: pre-split faster with lower mint limits, while auto-split takes significantly longer but comes with higher mint limits. There’s also a warning not to attempt it if the rune is almost completely minted out. 

You can also choose how much you’re willing to pay in fees but remember that this will affect the speed of the mint. The logic is simple: lower fees mean slower minting.

If you’re using Luminex and want to see a supply summary, more info about the rune, and a summary of its activity, just enter a rune ticker into the Mint window and then click on View rune details. This also includes things like the total number of current holders, the circulating and max supply, mints and transfers, etc.

Use this option to double-check everything, from whether you’ve got the exact Rune you want to how close it is to reaching its supply cap.

FAQs

What does it mean to etch a rune?

Etching is how you define new Bitcoin Runes. During this process, you set all the rules for that Rune—like its name and supply cap. Once it’s etched, nothing can be changed.

Etching doesn’t automatically create new tokens unless you decide to set some aside for yourself in a premine. Instead, it opens up the possibility for others to mint new tokens if they choose to.

What is minting Runes?

Minting is the process of actually creating and receiving Runes that have already been etched. You don’t need to be the original creator to mint them—just find the Runes you want, pay the fee, and wait for the transaction to go through.

You can mint as long as the token’s supply cap hasn’t been maxed out. The rules for each Rune were set during etching, so when you mint, you’ll receive the exact amount in your web3 wallet with no surprises.

What is the difference between minting and etching?

Etching is all about setting the rules for a token—how it’s created and how many there can be in total. Minting, on the other hand, is when someone actually creates that token based on the etched rules and gets it transferred to their wallet.

Only the token’s creator can do the etching, but once that’s done, anyone can mint the token (as long as the supply cap hasn’t been reached and they’re able to pay the fee).

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