Frequently Asked Questions

Here, you can find a list of frequently asked questions (FAQs) about the RBTC Flyover.

General

• RBTC Flyover is an innovative protocol built on top of the Rootstock network that significantly speeds up the process of transferring Bitcoin (BTC) to Rootstock Bitcoin (RBTC). It achieves this by leveraging a pool of liquidity providers who hold both BTC and RBTC, enabling near-instantaneous transfers with minimal confirmations.

• The PowPeg requires a lengthy 100-block confirmation period for security, resulting in transfer times of around 16 hours. Flyover, on the other hand, can be configured by the Liquidity Provider to be as low as 2 block confirmations (depending on the liquidity provider), reducing transfer times significantly to as low as 10-20 minutes.
• Note: For peg outs, LPs will need to wait for 2 Bitcoin block confirmations before receiving a refund.

• Yes, Flyover is built on top of the proven security of the PowPeg. It inherits the same security guarantees while offering significantly faster transfer speeds.

For Developers

• Integrating Flyover into your application is straightforward using the Flyover SDK. This developer-friendly toolkit provides the necessary tools and code samples needed to easily integrate Flyover features and functionalities. See how to get started with the SDK integration.

• By integrating Flyover, you offer your users an enhanced user experience with significantly faster Bitcoin-Rootstock transfers. This can attract more users and increase engagement with your platform.

• Yes, the Flyover SDK provides customization options to tailor the integration to your specific application requirements. You can configure various parameters to fit your user needs.

For Liquidity Providers

• To become a Liquidity Provider (LP), you'll need to set up and run the Liquidity Provider Service (LPS). Once the LPS is operational, it will automatically register itself with the configured wallet address. See how to get started as an LP.

• The minimum required collateral is 0.06 RBTC, regardless of the total liquidity provided. This collateral is paid upon transaction registration. The recommended amount of liquidity depends on the anticipated volume of concurrent operations the LP wishes to support. A higher liquidity level enables the LP to handle more transactions simultaneously.
• Note: For peg outs, LPs will need to wait for 2 Bitcoin block confirmations before receiving a refund.

• Yes, you can integrate Flyover into your platform and simultaneously act as a Liquidity Provider. This allows you to benefit from both sides of the system by maintaining control over liquidity management, potentially reducing costs, and creating synergies within your platform. To achieve this, integrate the Flyover SDK, configure your own LPS, and direct user transactions to your LPS within your platform's code.

• As a liquidity provider, you contribute to the growth of the Rootstock ecosystem while earning fees on every transfer facilitated through your liquidity. You also gain exposure to a wider user base.

• To safeguard against financial loss, Liquidity Providers are responsible for the security of their wallets and private keys. For detailed guidelines, refer to the sections on Wallet Management and the Security Requirements.

For Users - Converting BTC to RBTC and vice versa

• The easiest way to use Flyover is through the PowPeg. This user-friendly interface guides you through the transfer process, allowing you to quickly and securely convert your BTC to RBTC.

• The Flyover protocol maintains consistent fees across all integrated applications including the PowPeg. Fee variations arise primarily from the specific Liquidity Provider (LP) chosen and the network transaction fees.

• Flyover significantly enhances the user experience by reducing the wait times for Bitcoin-Rootstock transfers from hours to minutes. This makes interacting with the Rootstock ecosystem much more convenient and efficient.