Bucket, the largest stablecoin protocol on Sui, is about to be airdropped and pre-sold. How can I participate?

Written by Alex Liu, Foresight News

Bucket Protocol is a top 10 protocol on Sui by TVL, with a total locked value of $80 million. It is also the largest stablecoin protocol on Sui, with a native stablecoin BUCK anchored to the value of the US dollar. Bucket Protocol announced that it will conduct a TGE and an IDO public sale on January 13. What are the Bucket token economics, and is it worth participating in the public sale? How many tokens will be given in the airdrop?

Tokenomics

Basic Information

Token name: BUT, total supply of 1 billion. BUT can be staked as deBUT to gain governance rights over the protocol and participate in BUT emissions. Penalties for early withdrawal of staking will also be redistributed to deBUT holders.

Token distribution

  • Team (15%) allocated to the core Bucket team, locked for 6 months and then released linearly over 15 months.

  • Partners (2%) reserved for key partners, allocated in deBUT form, locked for one year to strengthen strategic partnerships with governance rights.

  • Advisors (2%) allocated to advisors, distributed in deBUT form, with a lock-up period of one year.

  • Ecosystem (33%) incentivizes the development of the ecosystem, activities, and community participation. Released weekly over 6 years.

  • Pre-sale (15%) allocated to early participants to support and obtain BUT early, with a one-year staking period (in deBUT form).

  • Airdrop (10%) recognizes and incentivizes early supporters and encourages broader adoption.

  • Marketing (5%) supports expansion and growth plans.

  • Reserve Fund (10%) for operational needs, future development, and strategic initiatives to ensure project sustainability.

  • Liquidity (8%) fully released at TGE.

Token unlock schedule

Participation guide

The Bucket points leaderboard will continue until January 11. The Airdrop Farm activities will last until January 13, and now is the last opportunity to participate.

Points leaderboard & Public sale

The participation guide for the Bucket points leaderboard activity is detailed in an article from the end of September. You can refer to the Gold Mining Manual | Launching Tokens in Q4! for details on participating in the Bucket airdrop (TGE postponed from Q4 to January 13, within the accepted range).

It is worth noting that currently staking sBUCK can earn a 4x points bonus, and the cost-effectiveness of lending positions is lower than directly using stablecoins to exchange for BUCK deposits.

The top 100 of the leaderboard will qualify for the Bucket public sale quota at a valuation of 5 million dollars. Refer to relevant agreements: Usual and Ethena have FDVs greater than their TVLs, while the largest Maker's FDV is also 1/3 of its TVL. Based on Bucket's TVL data valuation, a 5 million dollar FDV is almost assured profit. It should be noted that the tokens from the pre-sale will have a 1-year lock-up period and cannot be withdrawn early.

Public sale specific information:

Public Sale Round 1 (BUT whitelist sale): Open to ecosystem partners, contributors, and the Bucket community at a valuation of 5 million dollars. Tokens will be staked for one year, with no early withdrawal option. A two-hour pre-sale window. Currently, the way for regular users to obtain a whitelist is to be in the top 100 of the leaderboard.

Public Sale Round 2 (BUT public sale): The remaining allocation from the first round will be offered to the broader community at a valuation of 5 million dollars. Tokens will be staked for one year, with no early withdrawal option.

Farm activity

Bucket has also specifically opened up an airdrop mining activity, which has reached a TVL of 23 million dollars since its launch on December 19. It is not too late to participate now, 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 stablecoins like USDC, wUSDC for airdrop mining to earn Drops, which will be exchanged for BUT tokens after TGE.

If you haven't participated in the points leaderboard before and your capital size isn't sufficient to enter the top 100 of the points leaderboard in a short time to gain pre-sale whitelist qualification, it is recommended to mainly participate in the Airdrop Farm activities! The disadvantage in terms of time is smaller, and there is a higher possibility of substantial returns.