In Magic Eden's wallet, you might notice that "Runes" sometimes appear when performing actions on Bitcoin, like purchasing Ordinals or Rare Sats. This might lead you to believe that Runes are being spent or lost, but that's not the case. Here's why.
The issue with Runes in transactions
Runes are digital assets on Bitcoin managed through Unspent Transaction Outputs (UTXOs). During a transaction, especially when consolidating UTXOs, the system might touch existing Runes, making it seem like they're being spent. However, these Runes are typically returned to the user after the transaction, leading to confusion.
Understanding the asset movement
UTXOs and consolidation: The system uses UTXOs to manage digital assets. When consolidating, it might touch existing Runes and show them in the transaction simulation. This doesn't mean you're spending or losing them; they're just involved in the process and are returned to you.
Transaction simulation: The wallet simulates the entire transaction, which includes consolidating UTXOs. Because Runes are involved in this process, they might appear in the preview, causing concern. Rest assured, they're not being spent or lost.
Understanding Runes consolidation in context
When using Magic Eden's wallet, you might see a notification indicating that Runes UTXOs are touched during transactions. This can seem concerning, similar to how infinite approvals on Ethereum-based platforms might raise eyebrows. However, just like with infinite approvals, this notification does not mean that your funds are being spent or at risk.
When Runes UTXOs are touched in Magic Eden's wallet, it doesn't mean that assets are being spent or permanently taken away. It's part of the UTXO consolidation process, where digital assets are reorganized for efficiency without affecting your overall balance. If you receive a notification about Runes being involved in a transaction, it's typically a normal part of the process
What you should do
If you see Runes in the transaction simulation, there's no need to worry. It's part of the UTXO consolidation process. However, if you have any concerns or notice unusual activity, feel free to contact our support team for assistance.
While the appearance of Runes in your wallet during certain transactions might be confusing, it's a normal part of the UTXO consolidation process. If you have questions or need additional support, reach out to our support team at help.magiceden.io by clicking on the chat widget.