Bucket Protocol is a top 10 TVL protocol on Sui, with a total locked value of $80 million, and is also the largest stablecoin protocol on Sui, with a native stablecoin BUCK pegged to the US dollar. Bucket Protocol has announced that it will conduct a TGE and an IDO public sale on January 13.
How is the Bucket token economics, and is the public sale worth participating in? How many tokens will be airdropped?
Tokenomics
Basic Information
Token name: BUT, with a total supply of 1 billion. BUT can be staked to earn deBUT, which grants protocol governance rights and participation in BUT emissions. Early unstaking penalties will also be redistributed to deBUT holders.
Token Allocation
- Team (15%) allocated to the Bucket core team, with a 6-month lock-up and linear release over 15 months.
- Partners (2%) reserved for key partners, distributed in the form of deBUT with a 1-year lock-up to strengthen strategic partnerships.
- Advisors (2%) distributed to advisors in the form of deBUT, with a 1-year lock-up.
- Ecosystem (33%) to incentivize ecosystem development, activities, and community participation. Released weekly over 6 years.
- Pre-sale (15%) allocated to early participants to support and gain early access to BUT, with a 1-year staking period (in the form of deBUT).
- Airdrop (10%) to recognize and incentivize early supporters and encourage broader adoption.
- Marketing (5%) to support expansion and growth initiatives.
- Reserve (10%) for operational needs, future development, and strategic initiatives to ensure the project's sustainability.
- Liquidity (8%) fully released at TGE.
Participation Guide
Bucket's leaderboard will continue until January 11. The Airdrop Farm activity will continue until January 13, and this is the last opportunity to participate.
Leaderboard & Public Sale
The participation guide for Bucket's leaderboard activity was detailed in an article at the end of September, which can be referred to in The Gold Rush Manual | Token Release in Q4! Get on board with Bucket Airdrop (the TGE has been postponed from Q4 to January 13, within the accepted scope).
It is worth noting that currently, staking sBUCK can earn a 4x score bonus, and the cost-effectiveness of borrowing positions is lower than directly using stablecoins to purchase BUCK and deposit it.
The top 100 on the leaderboard will be eligible to receive a quota for Bucket's public sale at a $5 million valuation. Referencing related protocols: Usual and Ethena have an FDV greater than their TVL, and even the largest Maker has an FDV of 1/3 of its TVL. Based on Bucket's TVL data, a $5 million FDV is almost a guaranteed profit. Note: the tokens from the pre-sale will have a 1-year lock-up and cannot be withdrawn early.
Public Sale Details:
First round of public sale (BUT whitelist sale): Open to ecosystem partners, contributors, and the Bucket community at a $5 million valuation. Tokens will be staked for one year, with no early withdrawal option. A 2-hour pre-sale window. The current method for ordinary users to obtain the whitelist is to be in the top 100 of the leaderboard.
Second round of public sale (BUT open sale): The remaining allocation from the first round will be offered to a wider community at a $5 million valuation. Tokens will be staked for one year, with no early withdrawal option.
Farm Activity
Bucket has also opened a dedicated Airdrop mining activity, which was launched on December 19 and has already reached a TVL of $23 million. It is not too late to participate, and it will continue until January 13.
In the Airdrop Farm activity, in addition to depositing SUI, haSUI, vSUI, BLUE, SEND, and other Sui ecosystem tokens, you can also directly deposit USDC, wUSDC, and other stablecoins to participate in the airdrop mining and earn Drops, which will be converted to BUT tokens after the TGE.
If you have not previously participated in the leaderboard, and your capital is not sufficient to quickly enter the top 100 of the leaderboard to obtain the pre-sale whitelist, it is recommended to focus on the Airdrop Farm activity! The time disadvantage is smaller, and you are more likely to have a good return.
