FAQ

Basic Information

What is BUCK Stablecoin?

BUCK Stablecoin is the first fractional stablecoin mintable only on Arbitrum. BUCK supply is backed by DAI as collateral and parts of the supply (BEVY) is algorithm controlled, this makes BUCK capital efficient (no over-collateralization) and truly stable.

What is the vision of BUCK Stablecoin?

The protocol aims to ensure that stablecoin BUCK is decentralized, sustainable and price-stable, and widely used as algorithmic money.

Public sale?

We have plans to join several launchpads on Arbitrum and Polygon and hold IDO

Who are the investors?

We haven't received any investment officially from the investors yet. We only have strategic partners who support initial liquidity providing of BEVY.

Protocol & Mechanism

How can I mint BUCK?

BUCK can be minted by providing certain amount of DAI and BEVY, and the exact amount is determined by TCR. For example, when TCR is 80%, user need $80 worth of DAI and $20 worth of BEVY to mint 100 BUCK.

Can I get my DAI and BEVY back?

BUCK can be burned to the system to become DAI + BEVY in a certain amount, and the exact amount is determined by ECR. For example, when ECR is 85%, when redeeming 100 BUCK, user can receive $85 worth of DAI and $15 worth of BEVY.

What are TCR and ECR?

TCR stands for Target Collateral Ratio which is the percentage of DAI collateral that the system targets. TCR is used when minting BUCK and the initial TCR is 100%. ECR stands for Effective Collateral Ratio which is the percentage of DAI collateral held by the system. ECR is used when redeeming BUCK.

How can the BUCK be maintained at $1?

BUCK is freely minted and redeemed by anyone, so it can be maintained around $1 by arbitrageurs. For example, if the price of the BUCK is less than $1, then users can purchase it on the open market and burn it to get approximately $1 worth of value. But if the price of the BUCK is over $1, users can mint it for approximately $1 worth of value and sell it on the open market.

What is BEVY?

BEVY is a governance token in the BUCK Stablecoin ecosystem. BEVY token holders can have voting power after the governance tool launches. And if you stake your BEVY, you can earn additional rewards. BEVY continues to be purchased with rewards from the protocol, resulting in steady demand.

Is there a fee?

There is no fee for minting, redeeming and using farm

What is the Recollateralize?

Recollateralize is activated if the ECR is below the current TCR. The system can mint some BEVY and sell it at a discounted DAI price to make ECR equal to TCR.

BEVY Minting