RenBridge FAQ

General question about the RenBridge dApp

Where can I use RenBridge?

Here: https://bridge.renproject.io/

What is RenBridge?

It’s a decentralized application (dApp) that allows individuals to mint real BTC, ZEC, and BCH on Ethereum as an ERC20 (renBTC, renZEC, renBCH). It also allows users to convert these ERC20s (renBTC, renZEC, renBCH) back to real BTC, BCH, and ZEC.

What are the fees for RenBridge?

There are three (3) fees: 1) RenVM has a 10 BPS (0.1%) per mint and burn. 2) There is also a network fee that is required to pay the miners of the respective blockchain. This fee is set dynamically (in real-time) based on network congestion. It goes to Miners, not the Ren team or Darknodes. 3) ETH GAS. This varies depending on network congestion.

Is there a minimum amount you can send?

Yes, given the recent high TX fees of ETH and BTC, we encourage you to send no less than 10 USD worth of assets through RenBridge.

Sending less may cause you to lose the amount sent!

Is there a maximum you can send?

No, but RenVM + RenBridge are new technologies and security audits don't eliminate risks completely. Please don’t supply assets you can’t afford to lose.

Can I burn (release) my renBTC, renZEC, and renBCH at any time for real BTC, BCH, and ZEC?

Yes.

Can I mint renBTC, renZEC, and renBCH at any time?

Yes.

What Web3 wallet can I use?

Metamask. This app is designed to work solely with Metamask. We’ll be expanding support for other wallets in the future.

Can I send my BTC, BCH, or ZEC from any wallet?

Yes, but only send one transaction at a time. Wait for it to complete prior to sending another transaction.

How long does a BTC to renBTC transaction take?

RenVM waits for 6 confirmations, so about an hour (60 minutes). We use Kraken’s official deposit times as a reference: https://support.kraken.com/hc/en-us/articles/203325283-Cryptocurrency-deposit-processing-times

How long does a ZEC to renZEC transaction take?

RenVM waits for 24 confirmations, so about an hour (60 minutes). We use Kraken’s official deposit times as a reference: https://support.kraken.com/hc/en-us/articles/203325283-Cryptocurrency-deposit-processing-times

How long does a BCH to renBCH transaction take?

RenVM waits for 15 confirmations, so about 2.5 hours (150 minutes). We use Kraken’s official deposit times as a reference: https://support.kraken.com/hc/en-us/articles/203325283-Cryptocurrency-deposit-processing-times

How long does it take to burn (release) my assets back to the original chain?

RenVM waits for 30 Ethereum transactions, so depending on congestion, approximately 5 to 10 minutes.

Can I close the webpage or shut down my computer while I wait?

Yes, the order is saved via Firebase. so you can return to the webpage and GatewayJS will pop back up where it left off.

If I’ve encountered a bug, where do I submit it?

Here: https://renprotocol.typeform.com/to/YdmFyB