Owning BUCK: Uses, Storage and Risks

BUCK is an over-collateralized stablecoin created through Bucket Protocol, a collateralized debt position (CDP) protocol on Sui. Users lock supported crypto assets as collateral and mint BUCK against them; the named collateral types include SUI, BTC, ETH and liquid staking tokens (LSTs). As a holder, you own the stablecoin, not a claim that you personally deposited collateral or can automatically redeem it for a fixed amount. BUCK is intended to hold a stable value, but its price can move away from that target, and you should not treat it like cash or a bank deposit. Before relying on it for payments, trading or storing value, check that the market you plan to use has enough liquidity and that you understand how you would convert it back into another asset.

BUCK is issued on Sui, so you need a wallet that supports Sui assets to hold or transfer it. Before sending, check that the receiving wallet or platform supports this specific BUCK token on Sui; a matching ticker alone is not enough to identify an asset. Crypto projects can share tickers, and search results may refer to a different BUCK token on another network. Confirm the token identity through Bucket Protocol’s official channels and check the network selection before you approve a transfer. A transfer sent to an incompatible network or address may be difficult or impossible to recover. Keep your wallet’s recovery phrase offline and private, and never enter it into a site or message claiming to help you claim, verify or unlock BUCK. A self-custody wallet gives you control of the keys, but also makes you responsible for protecting them.

BUCK’s supply is created through the protocol’s collateral-backed minting process, rather than being described as a fixed maximum issuance. About 25.96 million BUCK were in circulation, with the same total supply, as of 2026-11-08; a maximum supply is not listed. Supply can change as users mint or repay BUCK through CDPs. The reported price was about $0.9989 on that date, close to one US dollar, but a snapshot does not guarantee that BUCK will stay at that level or that you can sell at it. The reported market capitalization was about $25.9 million as of 2026-11-08. These are time-sensitive figures, not a promise of future value. If you are assessing whether BUCK can meet a short-term cash need, check the current trading price and the depth of the market you would use to exit.

The known design feature intended to support BUCK’s value is over-collateralization: users must put collateral into a CDP to mint the stablecoin. That arrangement can provide a buffer against falling collateral prices, but it does not guarantee a dollar peg. The collateral itself can lose value, and the protocol’s ability to manage debt depends on its rules and operation. Before you mint BUCK or depend on it as collateral elsewhere, check Bucket Protocol’s current documentation for collateral ratios, liquidation thresholds, oracle design, fees and redemption terms. Those details affect how much collateral a borrower needs, when it could be sold to cover debt, and how a holder might exit. Do not assume that BUCK can always be redeemed directly for one dollar or that the same process applies to every supported collateral type.

BUCK carries several risks beyond ordinary price movement. If collateral values fall sharply, CDP borrowers may face liquidation under the protocol’s rules; that can put pressure on the system and on BUCK’s market price. A software flaw, compromised oracle or other protocol failure could also affect collateral and minting. Even if the design works as intended, thin trading or limited exit options can make it hard to sell near the target value. You also take Sui network and wallet risks when holding or transferring the token, including mistakes with addresses and loss of your recovery phrase. Review the protocol’s security information and current market liquidity before using BUCK, and avoid keeping funds in it that you cannot afford to have temporarily inaccessible or lose. A stablecoin label is not a guarantee of principal or immediate redemption.