Bucket Protocol Mainnet Recap, Achievements, and What’s Next PT.1

10 min readDec 29, 2023

Bucket Protocol has achieved remarkable milestones that demonstrate its rapid growth and commitment to enhancing liquidity within the Sui ecosystem.

Bucket has partnerships with OKX and multiple Sui projects achieved, distributing over 100K Sui Tokens.

As promised on June 28, to boost $BUCK liquidity, we partnered with two key DEXs in the Sui ecosystem — Aftermath and Kriya.

We established four liquidity pools: SUI–BUCK–USDC. In one month, locked value exceeded $500,000, and Sui rewards surpassed $50,000.

The team actively participated in global Builder House events, clinching first place in July’s Kyoto event with our new product, “Bucket Raffle”.

We fulfilled our Mainnet launch promise: now supporting diverse collateral, including LST, USDC, USDT, and WETH . Users can borrow $BUCK in the Sui ecosystem without interest.

This article recaps the achievements Bucket Protocol has made in the past months and provides insight into the exciting upcoming roadmap.

Milestone — June ~ Present

6/28 — Launched on Mainnet
6/29 — Support USDC, USDT as collateral
6/30 — Bucket Raffle won 1st in Sui Builder House Kyoto

7/7 — Bucket listed on Defi Ilama
7/16- Bucket V2 website app-sleek new design for better user experience, transparent protocol analytics etc.
7/17- Support WETH as collateral
7/14 — TVL reached 500K+
7/26- Bucket secured the Best Overall Award, landing 3rd place at the
@SuiNetwork X @KCLabsOfficial Summer Hackathon in Paris!
8/1 Sui Liquidity Mining, Reward for LP Stakers
8/2 Partnership with Aftermath & Kriya DEX for increasing BUCK liquidity
8/8 OKX CryptoPedia Campaign
8/11 — Bucket in Top 10 Coin list of Blockvision’s #SuiVision list
8/19 Fountain is LIVE, deposit SUI
8/26 Leaderboard Phase I conclude
8/30 Coin Flip support BUCK
9/7 — Product Update: Unstake Feature
9/7 — Suillette (Gamefi) — launched in collaboration with Bucket Protocol-uses BUCK
9/15 — Another Major Product Update: Redeem Function
9/19 — Bucket in Singapore SUI Builder house recap

10/4 — Secured 2nd place in the Sui Liquid Staking Hackathon’s LST DeFi and Tooling category.
10/20 — Bucket partners with HaedalProtocol to make haSUI collateral on Bucket.
10/20 — Bucket partners with Aftermath
10/20- LSDfi is now live on the Bucket protocol
11/6 — Bucket in Thailand — Sui Meet up
11/10 — Bucket partners with Volo
12/11 — Bucket cohosts Side Event for Taipei Blockchain Week
12/14 — Bucket takes part in Hackathon and Taipei Blockchain week
12/27 — Bucket revamps Website

Here, we will delve into each notable event from the past month to provide a detailed overview of Bucket, showcasing our team’s accomplishments and activities.

Q2

6/28 Mainnet Launch

Bucket was first announced to the public in April 2023 at the Sui HK Builder House event. After 8 weeks of development, contract audits, and testnet activities, we officially launched on the Sui Mainnet on June 28.

We committed to upcoming partnerships, liquidity enhancement, and expanding $BUCK use cases.

6/30 Bucket Raffle Won 1st at Sui Builder House Kyoto

At the Sui Foundation’s Builder House event in Kyoto, Japan, the Bucket team introduced an innovative product called “Bucket Raffle.” Leveraging Sui’s random number function, this decentralized lottery system won the hearts of judges, securing first place at the event.

Q3

Strategic partnership with Oracle Providers

As a decentralized DeFi protocol, stable, secure, and timely oracle services are crucial. We partnered with three trusted oracle providers — Pyth, Supra, and Switchboard —These partnerships ensure the protocol’s stability and security by integrating data from multiple sources.

7/7 Listed on DeFi Llama

DeFi Llama is a leading blockchain data website, aggregating information from over 20 blockchain ecosystems and thousands of projects to provide real-time data on capital flows and historical changes.

One month after launch, Bucket was successfully listed under the CDP category within the Sui ecosystem. At the same time, our TVL surpassed $500,000.

7/16 Bucket Web APP V2

After going live on the mainnet, we received feedback from the community, investors, and foundations, indicating room for improvement in website interface and user experience.

As a response, we quickly assembled our front-end and back-end teams. Within two weeks, we rolled out a new version featuring a sidebar-focused V2 interface.

7/17 Support WETH as collateral

Committed to unlocking liquidity within the Sui ecosystem, we assessed multiple feedbacks, and on 7/17, officially added WETH as collateral.

Users can now deposit WETH as collateral and borrow BUCK without incurring interest.

7/20 Sui Builder House Paris

Our team traveled to Europe to participate in the Builder House event hosted by the Sui Foundation in Paris.

During the event, we updated attendees on Bucket’s recent product developments.

8/1 Liquidity Mining Program I

Liquidity is crucial in the early stages of a DeFi protocol. To attract effective liquidity, Bucket applied for foundation grants and rewarded users who bring liquidity to BUCK, also known as LP Stakers.

By providing liquidity on DEX and staking the received LP tokens in the Bucket protocol, users can earn Sui rewards proportionally. The first week’s reward is set at $10,000.

With the launch of liquidity pools, the annualized yield reached up to 500%.

Add SUI — BUCK pools on Aftermath

In the first week, users can provide liquidity for SUI–BUCK or USDC–BUCK pairs on Aftermath and stake the received LP tokens in the Bucket protocol to earn the current Sui liquidity rewards.

Bucket collaborates with Aftermath to form a BUCK liquidity pool. Users can supply liquidity for SUI–BUCK or USDC–BUCK pairs on Aftermath and stake the received LP tokens in the Bucket protocol.

Participants will share in a total of $10,000 worth of Sui rewards, with a weekly APY ranging from 150% to 500%.

Stake and participate in our Liquidity Mining program with Aftermath

8/8 Bucket is LIVE on OKX Cryptopedia

As the second installment in the OKX Cryptopedia x SUI series, Bucket participants have the chance to share in $50,000 worth of Sui tokens. These rewards come from OKX wallets and ecosystem projects like Bucket, Kriya, and ABEx.

From August 3 to August 20, spanning 14 days, participants who create positions through “Start Quest” stand a chance to win SUI rewards and future BKT airdrops.

What is OKX Cryptopedia

OKX and Sui Foundation join forces to launch an ecosystem rewards program, motivating users to interact with the emerging Sui blockchain using OKX Web3 wallet.

This initiative aims to foster greater engagement and participation in the Web3 world.

Bucket is LIVE on OKX Cryptopedia One-Click For Complete Quest

8/14 Liquidity Program Week3

In the third week of liquidity rewards, besides Aftermath, BUCK trading pairs have also been added to KriyaDEX.

Users can continue to provide liquidity for SUI–BUCK and USDC–BUCK, staking the obtained LP tokens to earn this week’s Sui rewards.

8/26 Leaderboard Phase I End

The purpose of the Leaderboard is to record those who participated early in the protocol and to provide a basis for future airdrop rewards.

To address the updates and development direction of the next stage, the scoring rules ( Leaderboard ) will be adjusted.

Therefore, Bucket needs to periodically compile a list of early contributors to identify those who have been consistently involved since the beginning.

A total of 414 addresses have achieved scores exceeding 100. These addresses will receive NFT Pass and gain direct eligibility for the upcoming Leaderboard phase.

8/30 DeSuiLabs support BUCK as chips in Coin Flip V2

DeSuiLabs, the team behind the Coinflip “coin-toss” game, allows users to bet 1 SUI, 10 SUI, or more on the flip of a coin. Winners double their bets, while losers forfeit their chips.

During Coin Flip’s development, Bucket’s side project Raffle, which is well-versed in the random number feature in Sui Move contracts, provided significant help.

Coin Flip accepts BUCK as gaming chips, marking BUCK’s first step into use-cases beyond DeFi.

9/7 Suillette (Gamefi) — launched in collaboration with BucketHow to Use Bucket Web APP?

Suilette is the first social prediction roulette game available on the SUI blockchain and ecosystem.A real-life excitement of playing with your friends or strangers in person on SUI.

Suillette currently support $SUI, $BUCK, and $SCB pairs.

Play NOW: https://app.suilette.io/

9/15 Another Major Product Update: Redeem Function

Bucket introduces the ‘Redeem’ function on our webpage (https://app.bucketprotocol.io/redeem), allowing any BUCK holder to exchange their BUCK for accepted collateral at face value through this permissionless feature.

9/19 — Bucket in Singapore SUI Builder house recap

Our team @bucketprotocol had an exciting time at Sui Builder House Singapore! Thrilled to be part of this incredible community, and meeting new and familiar faces was a blast. 🔥 #Token2049 #web3

10/4 — Secured 2nd place in the Sui Liquid Staking Hackathon’s LST DeFi and Tooling category.

We’re immensely proud to have clinched 2nd place in the Sui Liquid Staking Hackathon’s LST DeFi and Tooling category.

A big shoutout to @SuiNetwork for organizing this fantastic event, and congratulations to all the winners! 🥳

10/20 — Bucket partners with HaedalProtocol to make haSUI collateral on Bucket.

HaSUI has been accepted as collateral on @bucket_protocol 🔥🔥 Users can now mint $BUCK with haSUI and engage with various applications for additional yields. #Suinami 🌊

10/20 — Bucket partners with Aftermath

Aftermath proudly announces the native integration of afSUI with @Bucket_Protocol. 🤝 Users can now use afSUI as collateral when minting BUCK. #Suinami #SuiEcosystem #BuildOnSui

10/20- LSDfi is now live on the Bucket protocol

Exciting news: LSDfi is officially live on the Bucket protocol! Users can now optimize their yields by utilizing afSUI. A special thanks to @AftermathFi for their steadfast partnership! 🤝

11/6 — Bucket in Thailand — Sui Meet up

Our team Bucket Protocol was thrilled to have joined Sui Builder House Singapore! Being part of this amazing community and meeting new and familiar faces at #Token2049 #web3 was a blast.
We also enjoyed exciting moments at #ThailandBlockchainGenesis2023, particularly at the Sui Meetup, a fantastic side event that brought together blockchain enthusiasts and experts.

11/10 — Bucket partners with Volo

We're thrilled to announce our collaboration with @volo_sui to advance Liquid Staking on @SuiNetwork with the support of Bucket Protocol! 🤝 vSUI is now seamlessly integrated into Bucket and can be deposited via: https://app.bucketprotocol.io.

12/11 — Bucket cohosts Side Event for Taipei Blockchain Week

12/14 — Bucket takes part in Hackathon and Taipei Blockchain week

What an exhilarating week! A big shoutout to @TaipeiWeek for hosting an incredible Web3 gathering. Special thanks to all the speakers who shared their expertise and experiences. It’s through these conversations that we continue to shape the path forward in the decentralized world.

12/27 — Bucket revamps Website

Navigate through our website and discover the full spectrum of functions Bucket has to offer. We’ve made it user-friendly A new Dapp is coming with a major update in Q1 2024.

End of Part 1. Stay tuned…for Part 2!