RSTR Memecoin Frenzy Spikes Old School RuneScape Hat Prices
A new memecoin called RSTR has been launched on Robinhood Chain via the Pons launchpad. Inspired by MicroStrategy's strategy with Bitcoin, RSTR's mechanics rely on a loop where every purchase or sale incurs a 1% fee, of which 70% is returned to the token creator.
The collected ETH is then used to buy official RuneScape Bonds, which are exchanged for gold pieces (GP), the game's currency. With these GP, the token creator purchases Robin Hood hats on the Old School RuneScape marketplace.
The price of the Robin Hood hat has skyrocketed in the game, rising from 700,000 GP to over 14 million GP in just a few days. This experiment fits into the MemeFi movement, where on-chain mechanics are repurposed to create viral attention.
However, there is a risk that Jagex may view this operation as real-world trading and ban the involved accounts, which could remove the held hats from circulation and further fuel speculation.