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Bucket Protocol is a decentralized stablecoin protocol allowing users to borrow $BUCK, a stablecoin pegged to the US dollar. Users can lock their crypto assets in over-collateralized debt positions (CDPs) to mint $BUCK. The unique mechanics of Bucket Protocol enable zero-interest loans while retaining exposure to the underlying assets[1][6][12].

Core Features

1. Over-Collateralized CDPs: Users must maintain a minimum collateral ratio of 110% to mint $BUCK, providing a safety net for the protocol[1][14].

2. Peg Stability Mechanisms: The protocol incorporates a Peg Stability Module (PSM) that facilitates one-to-one swaps with established stablecoins like USDC/USDT. This mechanism, along with a redemption system, ensures that the $BUCK maintains its $1 peg even during market fluctuations[1][12][15].

3. Governance-Free Design: Unlike other DeFi protocols, Bucket Protocol operates without centralized governance. Its parameters are managed algorithmically, reducing the risk of manipulation and enhancing decentralization[1][6].

4. Real-Time Liquidation: The protocol has an active system for real-time liquidation of under-collateralized positions, aimed at safeguarding the stability of the ecosystem[1][16].