CDP protocol on Sui, borrowing decentralized stablecoin.
- Deposit $SUI as collateral and borrow $BUCK with minimal collateral ratio 115%
- Repay with $BUCK and take back collateral in the form of $SUI
- Redeem 1:1 value of $SUI from protocol using $BUCK
- Deposit $BUCK to Tank to earn incentive token $BKT
- Provide liquidity for SUI/BUCK on DEX also earn $BKT
- Stake $BKT to share protocol revenue, coming from Borrow Fee, Redemption Fee and Flash-Loan Fee
Bucket Protocol enable users to extract stable value from $SUI with zero interest to pay, only a one-time borrow fee.
Bucket Protocol force the Tank to absorb bad debt. If users deposit $BUCK in Tank, they're helping protocol and make it more healthy. As the compensation of taking this risk, Bucket Protocol will reward Tank depositors with $BKT.
Bucket Protocol is fully decentralized, which rely on liquidators to liquidate debt with Collateral Ratio lower than 115%. Adding SUI/BUCK liquidity on DEX, will create a better environment with lower slippage for liquidators. As the compensation of taking this risk, Bucket Protocol will reward liquidity providers with $BKT.
$BKT serve as an incentive token in Bucket Protocol. Anyone who makes the protocol a better place should take part of the revenue from the protocol, which comes from three ways: Borrow Fee, Redemption Fee and Flash-Loan Fee. Staking $BKT allow users to share these profits, which are in the form of $SUI and $BUCK, and motivate them to keep helping the Bucket Protocol as well as the whole DeFi ecosystem on Sui.
- Assemble other modules
- Burn and mint $BUCK
- Handle collateral when borrow, repay and redeem
- Sort debtor positions by collateral ratio
- Record debtor positions
- Hold deposited $BUCK for liquidation
- Distribute collateral to $BUCK depositers after liquidation
- $BKT token distribution
- Reward tank depositors and SUI/BUCK liquidity providers with $BKT
- Collect fee from borrowing, redemption and flash loan
- Distribute fee to $BKT staker