# rxBTC

The rxBTC is the token used to pay for the gas fee of transactions on the BitReXe network. It is a 1:1 pegged token to the Bitcoin, as well as proof of balance of your Bitcoin can be reclaimed on the Bitcoin Network. 

| First-class Asset Ticker | total supply | Contract Address |
| ------------------------ | ------------ | ---------------- |
| **rxBTC**                | 21,000,000   | Native           |

* **Peg-in**:
  * A conversion from BTC to rxBTC
  * Locks BTC in the BTC multi-sig address
  * Releases rxBTC in the BitReXe-derived address generated by the DioWallet
* **Peg-out**:
  * A conversion from rxBTC to BTC
  * Locks rxBTC on the BitReXe network
  * Releases BTC on the Bitcoin network

### Gas Fee

{% hint style="info" %}
**What is Gas Fee?** 

In order to avoid issues of network abuse and to sidestep the inevitable questions stemming from Turing completeness, all programmable computation on a permissionless blockchain is subject to fees
{% endhint %}

rxBTC is used to pay for the decentralized network computing and consensus, also known as a gas fee.  You will need to pay a gas fee in rxBTC to complete, but not limited to the following on-chain activities:

1. Send Token
2. Mint Token
3. Create a smart contract
4. Maintain a smart contract state
5. Swap Token
6. Interactions with smart contracts

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