Bucket Protocol BUCK Stablecoin PriceBUCK

What is Bucket Protocol BUCK Stablecoin (BUCK)?

Bucket Protocol BUCK Stablecoin (BUCK) is a decentralized, over-collateralized stablecoin issued on the Sui blockchain that is designed to track a soft peg of one U.S. dollar. It is minted through Bucket Protocol, a decentralized finance platform that allows users to deposit crypto assets into smart contracts and create Collateralized Debt Positions (CDPs). By borrowing against their deposited collateral, users generate BUCK liquidity instantly without incurring unforeseen interest payments. The protocol supports multiple collateral types, including SUI, BTC, ETH, LST and others, and is positioned as a programmable currency backed by the Sui ecosystem. BUCK is described as being designed for long-term SUI and BTC bulls, offering a fixed interest rate and predictable cost. The stablecoin launched on May 14, 2024. BUCK is a USD-pegged stablecoin issued on Sui; its supply and market data change continuously and are shown on live data pages. The protocol also references a related stablecoin called USDB, which serves as another programmable currency within the same ecosystem. BUCK is part of the broader Sui Ecosystem and MoveVM category, and it is tracked across multiple data platforms under the ticker BUCK.

Key Specifications & Tokenomics

• Name: Bucket Protocol BUCK Stablecoin
• Ticker / Symbol: BUCK
• Blockchain / Platform: Sui Network
• Category / Tags: Sui Ecosystem, MoveVM (MVM), stablecoin, Real World Assets
• Protocol Type: Collateralized Debt Position (CDP) protocol
• Supported Collateral: SUI, BTC, ETH, LST (liquid staking tokens) and other assets
• Minimum Collateral Ratio: Set by the protocol, varying by collateral type
• Interest Model: Fixed interest rate with predictable cost
• Total Supply: 1,623,626,333,038,786 BUCK (1,623.63T BUCK)
• Circulating Supply: Reported as 0 by the market data source
• Max Supply: Not fixed
• Dividends: None
• Official Website: https://bucketprotocol.io/
• Start Date: May 14, 2024 (project launch)
• Listing Date: May 14, 2024 (CoinMarketCap listing)
• CoinMarketCap ID: 31225 (slug: bucket-protocol-buck-stablecoin)
• Tags: stablecoin, asset-backed-stablecoin, usd-stablecoin
• Contract Address (Sui): 0xce7ff77a83ea0cb6fd39bd8748e2ec89a3f41e8efdc3f4eb123e0ca37b184db2::buck::BUCK
• Block Explorer: https://suivision.xyz/coin/0xce7ff77a83ea0cb6fd39bd8748e2ec89a3f41e8efdc3f4eb123e0ca37b184db2::buck::BUCK
• Source Code: https://github.com/orgs/Bucket-Protocol
• Community: Discord (discord.com/invite/nYCnNJE6Tr), Medium (@bucketprotocol), X/Twitter (@bucket_protocol)

Who created Bucket Protocol BUCK Stablecoin?

Bucket Protocol is a decentralized stablecoin protocol on Sui. Bucket Protocol publishes its website (bucketprotocol.io) and source code on GitHub (github.com/orgs/Bucket-Protocol); individual founders are referenced in third-party coverage but not named in the public materials reviewed. Bucket Protocol operates through its CDP system, Stability Pool, redemption mechanism and savings module on Sui; the public materials reviewed do not describe a separate governance token or voting process.

How does Bucket Protocol BUCK Stablecoin work?

Bucket Protocol operates as a Collateralized Debt Position protocol on the Sui network. Users deposit crypto assets such as SUI, BTC, ETH, LST and others into a smart contract, creating a CDP. Each CDP must maintain a minimum collateral ratio set by the protocol, which may vary by collateral type. Once a CDP is established, users can borrow BUCK, a stablecoin pegged to the U.S. dollar, against their deposited collateral. The protocol charges a fixed interest rate, providing predictable costs for borrowers. BUCK holders have the option at any point to exchange their stablecoins for the underlying collateral through a redemption mechanism. The protocol uses a CDP-based design with a redemption mechanism to help maintain stability. BUCK is designed to track a soft peg to the U.S. dollar; its market price fluctuates around that target and is shown on live data pages. The protocol's design emphasizes maximizing the financial efficiency of crypto assets without unforeseen interest payments. Beyond minting, the protocol includes a Stability Pool and a savings module, and BUCK can be used for borrowing, savings, Stability Pool participation and redemption against underlying collateral.

What makes Bucket Protocol BUCK Stablecoin unique and valuable?

Bucket Protocol BUCK Stablecoin distinguishes itself through several key features. First, it offers a fixed interest rate with predictable costs, which is designed to appeal to long-term holders of SUI and BTC who seek stability in their borrowing arrangements. Second, the protocol supports multiple collateral types, including SUI, BTC and ETH, providing flexibility for users with diverse crypto portfolios. Third, BUCK targets a soft peg to the U.S. dollar; its market price fluctuates around that target and has historically deviated below peg, so it should not be treated as a guaranteed one-to-one redemption. BUCK has traded as low as 0.615480 USD, indicating historical deviation below its dollar target. Fourth, borrowing capacity is bounded by the minimum collateral ratio set by the protocol, which varies by collateral type; positions below that ratio can be liquidated. Fifth, the redemption mechanism gives BUCK holders the option to exchange their stablecoins for underlying collateral at any time, adding a layer of confidence in the stablecoin's value. Finally, the protocol operates within the growing Sui ecosystem, positioning itself as a programmable currency backed by Sui ecosystem assets. These features collectively position BUCK as a tool for maximizing financial efficiency in decentralized finance.

What is Bucket Protocol BUCK Stablecoin used for?

BUCK serves multiple functions within the Bucket Protocol ecosystem and the broader Sui network. Its primary use is as a stablecoin pegged to the U.S. dollar, allowing users to borrow against their crypto collateral without selling their underlying assets. This enables users to access liquidity while maintaining exposure to their SUI, BTC, ETH or other deposited assets. BUCK can be used as a medium of exchange within the Sui ecosystem, and its programmable nature makes it suitable for various decentralized finance applications. The stablecoin also functions as a tool for users who wish to take advantage of the protocol's fixed interest rate and predictable cost structure. Additionally, BUCK holders can participate in the redemption mechanism, exchanging their stablecoins for underlying collateral when desired. The protocol also references USDB, another stablecoin within the same ecosystem, which serves similar programmable currency functions. BUCK is used for borrowing, savings, Stability Pool participation and redemption against underlying collateral within Bucket Protocol on Sui.

How Is the Bucket Protocol BUCK Stablecoin ecosystem developing?

The Bucket Protocol ecosystem is developing within the broader Sui Network. Supported collateral assets include SUI, BTC, ETH and others, providing a foundation for the protocol's CDP mechanism. The protocol uses a CDP-based design with a redemption mechanism to help maintain stability. The protocol also references a related stablecoin, USDB, within the same ecosystem. BUCK operates on the Sui network and is part of the broader Sui ecosystem. Users should check local regulatory requirements before using the protocol. The protocol's development depends on the performance of its supported collateral assets (SUI, BTC, ETH, LST) and on continued use of its CDP, Stability Pool and savings modules on Sui.

How to mine Bucket Protocol BUCK Stablecoin?

BUCK is not mined through traditional proof-of-work or proof-of-stake mechanisms. Instead, it is minted through the Bucket Protocol's CDP system on the Sui blockchain. Users deposit crypto assets such as SUI, BTC, ETH or others as collateral, creating a Collateralized Debt Position. Against this collateral, they can borrow or mint BUCK stablecoins. The protocol charges a fixed interest rate on the borrowed amount, providing predictable costs. To maintain the position, users must ensure their CDP maintains a minimum collateral ratio set by the protocol, which may vary by collateral type. There is no traditional mining process for BUCK. The protocol family also references a related stablecoin, USDB, described as a programmable currency backed by the Sui ecosystem. BUCK itself does not pay dividends, and its supply is managed through the protocol's minting and redemption mechanisms rather than through mining rewards.

How to keep your Bucket Protocol BUCK Stablecoin safe?

Keeping BUCK safe requires attention to both the underlying protocol mechanics and general cryptocurrency security practices. Since BUCK is a stablecoin minted through CDPs on the Sui blockchain, users should monitor their collateral ratios carefully to avoid liquidation if the value of their deposited collateral declines. Maintaining a collateral ratio above the protocol minimum is essential, and users should consider the volatility of their chosen collateral assets. The protocol's redemption mechanism allows BUCK holders to exchange their stablecoins for underlying collateral, which can serve as a safety valve. Users should check local regulatory requirements before using the protocol. General security practices apply, including using reputable wallets, safeguarding private keys, enabling two-factor authentication where available and staying informed about protocol updates and governance decisions. Bucket Protocol's public materials do not list a third-party audit; users should verify the contract address 0xce7ff77a83ea0cb6fd39bd8748e2ec89a3f41e8efdc3f4eb123e0ca37b184db2::buck::BUCK on SuiVision before interacting. Users should always conduct their own research and remain aware of the significant market risks associated with crypto-assets, including extreme volatility and the potential loss of entire capital.