BUCK, issued by the Bucket Protocol smart contracts under the governance of BUT and deBUT tokenholders, is a decentralized, over-collateralized crypto-backed stablecoin that tracks a soft peg of one U.S. dollar (USD) on the Sui blockchain [S1][S2][S3].

Holders receive a price-stable token tracking 1 USD, minted against volatile crypto collateral held in single-asset isolated positions enforced by per-asset minimum collateral ratios, or 1:1 against supported stablecoins through the Peg Stability Module [S1][S4][S5]. The token itself pays no yield; depositing it into the sUSDB savings pool accrues a Base Savings Rate via a rising exchange rate [S6]. Peg Stability Module conversions bear fees of 0% to 0.05% inbound and 0.30% outbound [S5].

No incorporated legal issuer is named; the interface is provided by the Bucket Protocol Team and deemed based solely in the Republic of Seychelles under Seychelles governing law, with the protocol running as smart contracts rather than a single corporate entity [S1][S2]. The holder's claim is economic and algorithmic via peg-support mechanisms, not a hard redemption right against an issuer [S5]. The Terms prohibit Restricted Persons, including residents of the United States, Taiwan, the United Kingdom, and sanctioned jurisdictions [S2]. Redemption operates through the Peg Stability Module, burning the token for USDC or suiUSDT at 1:1 less the 0.30% outbound fee, subject to liquidity [S5].

The token is issued natively as a Sui coin on the Sui blockchain only, with no bridged availability [S7][S1]. Minting occurs by depositing collateral and borrowing in a single transaction or swapping supported stablecoins through the Peg Stability Module; redemption repays debt or burns through the module [S4][S5]. Settlement is onchain and effectively instant on Sui, with the peg supported by market arbitrage rather than an offchain oracle [S5].

<Sources
  retrievedAt="2026-06-22"
  items={[
    { id: "S1", url: "https://docs.bucketprotocol.io/introduction/what-is-usdb" },
    { id: "S2", url: "https://docs.bucketprotocol.io/resources/terms-of-service" },
    { id: "S3", url: "https://docs.bucketprotocol.io/llms.txt" },
    { id: "S4", url: "https://docs.bucketprotocol.io/mechanism/how-cdp-work" },
    { id: "S5", url: "https://docs.bucketprotocol.io/mechanism/usdb-peg" },
    { id: "S6", url: "https://docs.bucketprotocol.io/llms-full.txt" },
    { id: "S7", url: "https://docs.bucketprotocol.io/introduction/what-is-bucket-protocol" },
  ]}
/>


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Bucket Protocol

Bucket Protocol BUCK Stablecoin (Legacy) (BUCK) is a U.S. dollar stablecoin issued by Bucket Protocol.

Retail investors, professional investors, accredited investors, qualified investors, qualified purchasers, and institutions can mint and redeem directly with Bucket Protocol, and holders have a contractual right to redeem at par.

BUCK has been issued on Sui as a Sui coin token since June 2023.

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