Buck as Solution

The most effective way to keep a coin stable against 1 dollar peg is to combine a collateralize system with an algorithmic system. This is called the Fractional method; collateral-algorithmic stable coins as implemented by the FRAX token.

The FRAX team has successfully implemented the mechanism, but there are still many things that need to be improved.

The Improvement points that make the Buck protocol the only solution are:

Faster Execution and Low Gas Fee

Buck protocol runs on a novel Layer-2 Technology : Arbitrum. This allows user to carry out all transactions at a faster speed, lower fees while still relying on the security and stability of the Ethereum network.

Zero Fee for all Transactions

Users can mint BUCK, withdraw DAI + BEVY, mint BEVY without any cost, except for very cheap Arbitrum gas fees

Automated Collateral Treasury

Automate the system in terms of handling excess and shortage of collateral in the pool to achieve the target collateral ratio (TCR). When the pool is in excess of collateral, it will be transferred to the treasury, and when the pool is short of collateral, it will trigger the treasury to transfer the collateral back to the collateral pool. If the treasury is insufficient to do the transfer, the system will activate the re-collateralize (we call it Bevy minter) so that the users can deposit DAI to get BEVY as return.

Unstoppable, Fully Decentralized DAI Only Collateral Pool

For simplicity and ensuring decentralization, BUCK only uses DAI as collateral. DAI is a self-sovereign money generation of stablecoin with complete financial independence.

The collateral pool is the heart of the fractional protocol, therefore BUCK ensures that it is completely decentralized and cannot be frozen by anyone, anytime and for any reason.

Personalized Farming Bonus Multiplier

Buck combines DeFi and NFT in a very innovative way. Our community will be able to mint BuckLoot NFT for free. Inspired by Loot NFT Project, BuckLoot is randomized hunting gear items generated on-chain. Each BuckLoot 'bag' contains three items. During certain promo periods, there will be a BuckLoot Challenge where we display single hunting gear item as keyword on our website. BuckLoot holders who have the keyword item in their bags will get Special Multiplier for BEVY Farming Bonus and earn higher yield in return.

Enhanced User Experience

BUCK improves the User Experience to be simpler and more user friendly. We avoid overly technical terminology and UI components in order to make it easier for users to operate the protocol.