---
title: "Bucket Protocol BUCK (BUCK) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/buck-bucket-protocol/"
description: "Build-time stablecoin profile for Bucket Protocol BUCK (BUCK). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-05-15"
---



# Bucket Protocol BUCK (BUCK)

**Peg:** US Dollar

**Backing:** Crypto-Collateralized

**Governance:** CeFi-Dependent

**Status:** active

## Overview

BUCK is Bucket Protocol's {{term:overcollateralization}}overcollateralized{{/term}} Sui-native dollar stablecoin minted from SUI, BTC, ETH, and LSTs through {{term:cdp}}CDP{{/term}} vaults with {{term:psm}}PSM{{/term}} stablecoin swaps. Bucket Protocol brings the MakerDAO playbook to Sui: deposit SUI (45%), USDC/USDT via PSM (25%), wrapped BTC (15%), or ETH/LSTs (15%), mint BUCK at zero interest, get liquidated at 110% collateral ratio. The 90-rated backstop with direct BUCK {{term:redemption}}redemption{{/term}} for collateral provides a strong structural floor, but the 553 depeg events including one that cratered 7,505 basis points below peg reveal what happens when the primary collateral is a volatile L1 token. The F in decentralization at 15 reflects the established-alt-L1 chain penalty, and the PSM module accepting USDC and USDT is a polite way of saying the decentralized stablecoin ultimately leans on centralized ones when it matters. A DEWS score of 2 — among the lowest on the dashboard — suggests the current period is unusually calm for a product whose history includes some of the most severe depegs of any surviving CDP.

## Collateral

SUI, BTC, ETH, and LSTs via CDPs; USDC/USDT via Peg Stability Module

## Peg Mechanism

Overcollateralized CDPs with per-asset minimum collateral ratios (e.g. 110% for SUI); hard peg via direct BUCK redemption for collateral with dynamic redemption fee; soft peg via PSM enabling 1:1 swaps with USDC/USDT; liquidations via Tank module

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| sui | `0xce7ff77a83ea0cb6fd39bd8748e2ec89a3f41e8efdc3f4eb123e0ca37b184db2::buck::BUCK` | 9 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/buck-bucket-protocol.