On-chain Wealth Opportunities for Players in the Sui Ecosystem Explosion

Bucket Protocol, as the largest decentralized stablecoin protocol in the Sui ecosystem, has recently developed rapidly. The total locked value (TVL) of the protocol has increased by 145% over the past month, reaching 22 million dollars.

In order to further promote ecological development, Bucket has launched a points system, where participants can redeem the protocol token BUT in the future. This event is expected to conclude in the fourth quarter, at which point the points leaderboard will be announced and the token generation event (TGE) will take place. Even without considering airdrop rewards, the stablecoin yield currently offered by the protocol is quite substantial, with an annualized yield (APY) fluctuating around 20%.

Introduction to Bucket Protocol

The Bucket Protocol issues the decentralized stablecoin BUCK on the Sui network, similar to DAI in the Ethereum ecosystem. 1 BUCK is pegged to a value of 1 US dollar, supported by over-collateralized Sui, LST, or other crypto assets. Since its launch on June 29 last year, BUCK has remained stable, with no significant de-pegging events.

As an important development team in the Sui ecosystem, Bucket has participated in and sponsored ecosystem activities multiple times. At the same time, the project has also received strong support from the Sui Foundation and obtained ecological funding.

Protocol Highlights

1. Fixed Interest Liquidity: Borrowers can obtain liquidity at a fixed interest rate without worrying about interest rate fluctuations.

2. Low collateral rate: minimum collateral rate of 110%, while ensuring system stability.

3. Arbitrage and Peg Stability Module ( PSM ): Ensure that BUCK is pegged to the dollar at a 1:1 ratio.

4. No governance operation: All parameters are preset and controlled by algorithms, requiring no human intervention.

5. sBUCK Earnings: Users deposit BUCK to obtain sBUCK and can enjoy fixed returns.

6. Ecological Applications: BUCK can be used in multiple projects within the Sui ecosystem.

Airdrop Activity Rules

Bucket completed a snapshot for old users on September 23, and all users are currently at the same starting point. Users can earn points through the following three methods:

1. Open a lending position: Mortgage SUI LST to borrow BUCK, earning 1 point per hour for every 1 BUCK.

2. sBUCK Deposit: For every 1 sBUCK deposited, earn 1 point per hour.

3. Additional Points for Integrated Projects: 1.1 points are earned per hour for each ST-SBUCK deposited in the BUCK Savings Vault.

Participation Steps:

1. Existing position users need to first click "Start to earn points" on the rewards or dashboards page to begin earning points.

2. Accumulate points according to the rules.

3. Check the leaderboard and detailed points situation on the Liquidlink points page.

Recommended Participation Methods

For users who are new to the Sui ecosystem DeFi, the simplest method is to exchange stablecoins for BUCK and deposit them into Bucket. This allows you to accumulate airdrop points while earning approximately 20% annualized returns on stablecoins.

It should be noted that the most commonly used stablecoin on the Sui network is the Ethereum version of USDC bridged through the Wormhole. Stablecoins from other chains may need to be exchanged for BUCK through the Swap function of Bucket or Aftermath.

With the continuous development of the Sui ecosystem, Bucket is expected to become one of the core infrastructures in the decentralized finance sector of the network. It not only provides users with channels to obtain stable returns but also injects new vitality into the entire ecosystem.