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If you are new to RIF On Chain, this guide will help you prepare everything you need before using the protocol:
- A compatible wallet.
- rBTC to pay gas on Rootstock.
- Access to the RIF On Chain dApp.
What you will use
RIF On Chain issues USDRIF, a stablecoin designed to track the US dollar. You can obtain it by depositing RIF or DOC as collateral. RIFP (RIF Pro) is the RIF bucket’s residual token and gives exposure to RIF; it is not a stablecoin. MOC is used for governance and staking. rBTC pays gas on Rootstock. A bucket is a separate accounting compartment for one collateral asset.
Minting creates tokens against collateral. Redemption burns the selected protocol tokens and returns collateral. Your wallet holds your tokens and signs the transactions for these operations.
Set up a wallet
Use a wallet that supports Rootstock and one of the connection options offered by the dApp. If you use a hardware wallet, connect it through a compatible wallet integration like Rabby Enkrypt Metamask
Back up your recovery phrase and keep it private.
Select the Rootstock network
Choose Rootstock Mainnet in your wallet. If the network is not listed, open your wallet’s network settings, choose to add a network, enter the values below and save. Select it before connecting to the dApp.
| Setting | Value |
|---|---|
| Network | Rootstock Mainnet |
| Chain ID | 30 |
| Native currency | rBTC |
| RPC URL | https://public-node.rsk.co |
| Block explorer | https://rootstock.blockscout.com/ |
Obtain rBTC
rBTC is the native asset used to pay gas on Rootstock. You need it for approvals, exchanges and other interactions with the protocol.
Obtain rBTC through a supported exchange or bridge and send it to your wallet on Rootstock. Keep enough for all the transactions in the operation you want to complete.
Connect to the dApp
Open the application using the website’s dAPP button and connect your wallet. Check that the selected account and network are correct.
Minting means depositing collateral to create new protocol tokens. To mint, you will also need RIF or DOC. Redeeming is the reverse: you return protocol tokens, which are burned, and receive collateral back. To redeem, you will need the tokens you want to redeem.