21 Feb 2021
What is rBTC, why do you need it and how do you get it into your wallet?
What is rBTC?
Sovryn is built on the RSK Mainnet (Rootstock Mainnet). The native token of RSK is rBTC, a 1:1 bitcoin peg. When you send Bitcoin via the RSK Powpeg your Bitcoin is locked and the equivalent amount released as rBTC.
Why do this?
rBTC is Bitcoin on steroids. It enables your Bitcoin to interact with a range of services on Bitcoin layer 2 and brings extra security, alongside permissionless transfers.
One of the big advantages is that it makes transactions faster and more secure. By adopting this Bitcoin sidechain, Sovryn users are able to make transfers in mere minutes (sometimes even seconds) and for an affordable price of approximately 0.06 GWEI, (approx. $0.00001219) for any transaction.
Why do you need rBTC in your wallet?
You will need rBTC to move SOV tokens around. SOV are the governance tokens of Sovryn. The moment you want to trade, stake or send your SOV somewhere, you will need a small amount of rBTC for it. Even having 0.0001 rBTC in your wallet will give you the freedom of making multiple transactions out of your wallet.
Note that you do need rBTC to receive your SOV from the sale, as you will need to actively redeem your SOV.
How do you get rBTC on your RSK Mainnet wallet?
There are 2 exchanges that provide BTC/rBTC swaps, KuCoin and BitFinex. If you do not wish to engage with centralised exchanges you can acquire rBTC through the swapping service of the Liquality Wallet or you can use the native Rootstock application RWallet on your smartphone.
If you are interested in more information surrounding Sovryn: visit our Wiki!