Bucket TokenPrice

(BUT)

Bucket Token, identified by the ticker BUT, is the native utility and governance token for Bucket Protocol. This project serves as a decentralized liquidity layer and stablecoin engine built on the Sui blockchain. The primary objective of the protocol is to improve capital efficiency for users by allowing them to unlock liquidity from their existing digital assets without needing to sell them. At the core of the ecosystem is a system for creating collateralized debt positions. Users interact with the protocol by depositing various crypto assets into smart contracts referred to as Bottles. By locking this collateral, users can mint the protocol's native stablecoin, known as BUCK, which is designed to maintain a stable value pegged to the US dollar. To ensure the safety and stability of the system, the protocol requires that every BUCK stablecoin is backed by more than its value in collateral, a process known as over-collateralization. The BUT token plays several critical roles within this ecosystem. It is primarily used for decentralized governance, allowing holders to participate in the decision-making process regarding the protocol's future developments, parameter adjustments, and strategic directions. Additionally, the project features a staking mechanism where BUT tokens can be converted into deBUT. Staking the token is intended to align the interests of long-term participants with the health of the protocol, often granting them influence over ecosystem incentives or sharing in the utility of the network. Stability within the Bucket Protocol is maintained through automated mechanisms. If the value of the collateral in a user's Bottle falls below a specific threshold, the protocol employs a liquidation process to ensure the BUCK stablecoin remains fully backed. This involves a stability pool where participants can provide assets to facilitate these liquidations in exchange for rewards. By operating on the Sui Network, the project leverages high-speed transaction processing and low latency to provide a responsive user experience for borrowing and lending. The protocol positions itself as a foundational piece of decentralized finance infrastructure on Sui, aiming to provide a reliable stablecoin and deep liquidity that other applications in the ecosystem can utilize. Overall, Bucket Token represents the governance and incentive layer of a specialized financial platform focused on stablecoin minting and leveraged liquidity management. Learn more

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