Winding Down Runes Fund

Amid low fundraise, we are returning the contributions in full.

Runes Fund has been conceived to create incentives to fund infrastructure of the upcoming runes protocol. For a sufficiently distributed protocol with competitive tooling and adoption, such a fund would have been instrumental.

However, we have failed to raise a significant amount in the first epochs. Projecting the amount raised, would have resulted in less than a hundred thousand USD of a total fund at the end of the fundraise.

Such a small treasury, would make it challenging to fulfill the vision of Runes Fund. It would not be able to make significant contributions, and it would not likely generate returns due to insufficient diversification. Management costs would result in a higher than average ratio for such ecosystem funds.

In the light of these disadvantages, consulting our community, we’ve came to unfortunate decision to wind down Runes Fund and return the contributions.

We’re returning all the contributions back in full, down to the last sat, from the contribution multi-sig address bc1qn-49ltp. We’ve just published the refund transactions, with exact contribution amounts: https://mempool.space/tx/3b1a1462475086ab9ffebb204075c3a45f1a760c02169336e67e47f0dc2d9c41 The transaction should be mined promptly.

We’re deeply grateful to all of our supporters. Your support, your contributions (and our refund) are permanently recorded on bitcoin. As Neufi Ordinals Lab, we’ve more runes and ordinals projects in the horizon. We’re looking forward to collaborate again.

Please reach out on our Discord channel or X for any comments or questions you may have.