¶ Get rBTC directly within the dApp
Sovryn provides the following quick, easy, and convenient methods for acquiring rBTC directly within the dApp.
- FastBTC Relay: A native method for configuring your existing BTC for use on the Sovryn platform
- Fiat Deposit: Make a fiat deposit and receive rBTC directly in your wallet
¶ What is the SOVRYN FastBTC Relay
The SOVRYN platform operates on the RSK Network, and utilizes rBTC for transactions, which is ultimately derived from Bitcoin. As such, obtaining rBTC it requires a peg to BTC.
To simplify the peg of BTC to rBTC, we have implemented the Fast BTC Relay to provide a hassle-free peg method directly in the SOVRYN dApp.
To use the FastBTC Relay and convert your BTC to rBTC, watch the video below or use this step-by-step process.
¶ FastBTC Fees & Limits
Currently the fees associated with using the FastBTC Relay are 5000 sats + 0.2% per transaction. Additionally, transactions have the following limits:
- MIN Transaction: 0.0004 BTC
- MAX Transaction: 1.00 BTC
These limits are PER TRANSACTION. Users who wish to deposit more than the maximum limit may add more BTC by sending the max limit multiple times over multiple transactions. If you are going to send multiple fastBTC transactions, make sure to wait a good length of time (half an hour) between them to ensure there is no possibility that the transactions are included in the same block.
NOTE: The current fees will be displayed in your wallet while initiating a FastBTC transaction. Be sure to verify your transaction amount is within the minimum and maximum limits. See the “Top Up FastBTC” image below.
¶ Purchase rBTC using the SOVRYN Fast BTC Relay
To use the FastBTC Relay, you need to engage your Web3 wallet with the RSK Network. (Check out The Wallet Setup Guide for instructions of how to do this)
¶ BTC to rBTC
Use the FastBTC Relay to configure your existing Bitcoin from any exchange or wallet.
¶ 1. Go to the SOVRYN dApp.
¶ 2. Engage your Web3 wallet (be sure to have the RSK Mainnet selected)
¶ 3. Go to the “PORTFOLIO” tab and select “FastBTC” next to the BTC asset count.
¶ 4. Click on Generate deposit address
- This will generate a personal Bitcoin deposit address - to transfer BTC to the RSK Network and ultimately to your connected wallet.
- This will peg your BTC to rBTC at a 1:1 ratio.
NOTE: The current fees will be displayed in your wallet while initiating a FastBTC transaction. Be sure to verify your transaction amount is within the minimum and maximum limits.
See the “Top Up FastBTC” image below.
¶ 5. After a short wait, the deposited BTC will be pegged to rBTC and transferred to your connected wallet on the RSK Mainnet.
¶ Disclaimer
DISCLAIMER: Nothing on this page should be taken as investment advice. Inclusion of a third-party app or service does not constitute an endorsement of the app or service by Sovryn developers or anyone else in the Sovryn community, and is provided for informational purposes only. If you have any problems with the listed third-party apps or services, please contact the maintainer of that app or service for help. Sovryn does not have any control of your funds in any supported Web3 wallet -- you are responsible for your own wallet security. Please do your own research and ensure you understand and accept the risks before trading or using any apps or services to store your funds.