The Sui ecosystem is developing rapidly, and the Bucket Protocol has become the focus.

The Sui ecosystem is experiencing rapid development, with the Bucket Protocol gaining attention as the largest decentralized stablecoin protocol. Data shows that over the past month, the total locked value of Bucket, (TVL), has increased by 145%, reaching 22 million USD.

In this context, Bucket has launched a points system where users can participate to gain the opportunity to exchange for the future protocol token BUT. This event will end 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, Bucket also offers a considerable yield in stablecoins, with an annualized yield (APY) fluctuating around 20%.

Introduction to Bucket Protocol

Bucket Protocol is a decentralized stablecoin protocol on the Sui network, issuing the stablecoin BUCK. BUCK is pegged to the US dollar at a 1:1 ratio, supported by over-collateralized Sui, LST, or other crypto assets. Since its launch on June 29 of last year, BUCK has remained stable without any significant de-pegging events.

Main Features:

• Fixed-rate lending: Borrowers can obtain liquidity at a fixed rate without worrying about interest rate fluctuations.
• Low collateral ratio: a minimum collateral ratio of 110%, while ensuring system stability.
• Arbitrage and Peg Stability Module: Ensures that BUCK is pegged to the US dollar at a 1:1 ratio.
• No governance required: All parameters are preset and controlled by algorithms for autonomous and efficient operation.
• sBUCK Earnings: Users deposit BUCK to obtain sBUCK, which can earn fixed returns.
• Ecosystem Integration: BUCK can be widely used within the Sui ecosystem, enhancing its practicality.

Airdrop Event Details

The Bucket completed the snapshot for old users on September 23, and now all users are starting from the same starting line to participate in the new points ranking activity.

Ways to earn points:

1. Open a lending position: Deposit SUI LST as collateral to borrow BUCK, earning 1 point for every 1 BUCK borrowed per hour.
2. sBUCK Deposit: For every 1 sBUCK deposited, 1 point is earned every hour.
3. Participate in integration projects: Deposit ST-SBUCK in the BUCK Savings Vault of Strater to earn 1.1 points for every 1 per hour.

Participation Steps:

1. For users with existing positions, you need to click "Start to earn points" on the rewards or dashboards page to begin earning points.
2. Accumulate points according to the rules, which can be done by opening a CDP, depositing sBUCK, or using the Strater Savings Vault.
3. Check the leaderboard and detailed points information under the Bucket branch on the Liquidlink points page.

recommended strategy

For users who are new to the Sui ecosystem DeFi, the easiest way is to exchange stablecoins for BUCK and deposit them into the Bucket. This not only allows you to earn about 20% annual yield but also accumulate airdrop points.

It is important to note that the most commonly used stablecoin on the Sui network is the Ethereum USDC bridged through the Wormhole. Stablecoins bridged from other chains such as Solana, Arbitrum, and BNB via Wormhole may require additional exchange steps.

Bucket Protocol, as an important stablecoin project in the Sui ecosystem, is expected to become one of the core infrastructures of the network. As projects on the Sui chain continue to mature, Bucket may play a key role in the decentralized finance sector, providing users with stable returns and opportunities to participate in DeFi.