Buck Launches Bitcoin-Pegged Savings Coin "BUCK," with Yield from Strategy-Related Assets

BlockBeats News, January 6th, according to CoinDesk, Buck Labs has launched the cryptocurrency token BUCK, positioned as a "Savings Coin" for non-U.S. users, focusing on providing passive income for USD-denominated crypto assets, rather than traditional stablecoins.

BUCK has an initial price of 1 USD, with no strict USD peg, allowing the price to fluctuate with the market. Its revenue is indirectly derived from assets related to Strategy (MSTR): the Buck Foundation holds STRC perpetual preferred shares pegged to Bitcoin, which pay periodic returns to the treasury, used to distribute rewards to BUCK holders, with a current annualized target of around 7%, compounded by the minute.

Buck Labs emphasizes that Michael Saylor and Strategy are not involved, sponsored, or endorsed the project. BUCK adopts a governance token structure, allowing holders to participate in revenue distribution and other governance votes, with the company stating that it is not issuing securities. BUCK aims to complement stablecoins rather than replace them, targeting users looking for relatively predictable crypto income but unwilling to trade frequently.