The Sui ecosystem is thriving, and the stablecoin project Bucket brings new opportunities.

The Sui ecosystem is currently in an explosive period, and on-chain players have welcomed new wealth opportunities. As the largest decentralized stablecoin protocol in the Sui ecosystem, Bucket Protocol has recently shown impressive performance, with a TVL increase of 145% reaching 22 million dollars within a month.

Bucket has launched a points system for redeemable future protocol tokens (BUT) and plans to announce the points leaderboard and conduct a token generation event at the end of the fourth quarter. Even without considering airdrops, its stablecoin yields are quite substantial, fluctuating around an APY of about 20%, making participation in the protocol cost-effective.

Protocol Functions and Features

Bucket issues a decentralized stablecoin BUCK on Sui, with 1 BUCK pegged to 1 US dollar, backed by over-collateralized Sui, LST, and other assets to ensure its value. Since its launch on June 29 of last year, BUCK has remained stable, showing no significant depegging.

Bucket is an active development team in the Sui ecosystem, participating in ecological activities multiple times. They have received strong support from the Sui Foundation, including ecological grants, and participating in Bucket can also earn SUI token incentives.

Main features:

• Fixed interest liquidity: Borrowers obtain BUCK at a fixed interest rate, without worrying about interest fluctuations.
• Low collateral ratio: minimum 110%, fast liquidation mechanism ensures system stability
• Mechanisms such as arbitrage and PSM will peg BUCK to 1 dollar.
• No governance operation: parameter preset, algorithm control, efficient autonomy
• sBUCK Earnings: Deposit BUCK to earn sBUCK, obtain fixed returns through BSR
• Wide application in the ecosystem: BUCK can be used in multiple projects within the Sui ecosystem.

Airdrop Rules and Gameplay

Bucket completed the old user snapshot on September 23, and everyone is currently on the same starting line. The ways to earn points are:

1. Open a lending position: Deposit SUI LST to borrow BUCK, earning 1 point per hour for every 1 BUCK.
2. sBUCK deposit pool deposit: 1 point for every 1 sBUCK deposited per hour.
3. Integrated project bonus points: Deposit 1 ST-SBUCK to earn 1.1 points per hour

Participation Steps:

1. Existing position users need to click "Start to earn points" to begin earning points.
2. Accumulate points according to the rules: open CDP, deposit sBUCK or BUCK
3. View the points leaderboard and details on Liquidlink

Recommended play: Exchange stablecoin for BUCK and deposit it into Bucket to earn approximately 20% annual yield while accumulating airdrop points.

Note: The universal stablecoin on Sui is the Ethereum USDC bridged through the Wormhole, while stablecoins from other chains need to be swapped for BUCK.

Bucket, as an important stablecoin project in the Sui ecosystem, is expected to become one of the core infrastructures. Its airdrop activity not only brings participation opportunities for users but also injects new vitality into the Sui ecosystem. As Sui chain projects mature, Bucket is expected to play a key role in the DeFi space, becoming an important channel for users to obtain stable returns and participate in the ecosystem.