Introducing Bucket: The First CDP Protocol on SUI. Test Our Web App and Earn Exclusive NFT Rewards ! 🚀

Hello Sui friends! We have some exciting news to share with you. Bucket, the first CDP protocol built on SUI, is live on Testnet ! Experience our latest web app and get an exclusive “Early Users NFT”.

Bucket — Early User NFT

What Is Bucket Protocol?

Bucket Protocol is a DeFi Engine on the Sui network. It allows users to draw 0% interest loans against $SUI $BTC $ETH and LSD used as collateral.

Loans are paid out in $BUCK — a USD pegged stablecoin backed by multiple types of crypto assets, with a minimum collateral ratio of 110%.

In addition to the collateral, the loans are secured by Bucket Tanks, a liquidity pool on Bucket Protocol (More details below) containing $BUCK and supported by fellow borrowers collectively acting as guarantors of last resort.

What is a CDP protocol ?

Collateralized Debt Positions (also referred to as CDP’s) allows you to deposit your $SUI as collateral and borrow stablecoin $BUCK. This way, you can leverage your assets and earn more returns.

What has Bucket achieved so far ?

1. Security Audit by OtterSec & MoveBit

We have completed audits by OtterSec & MoveBit to ensure the highest standards of security and quality, two reputable firms in the blockchain industry and especially in Move Language. They have verified that our smart contracts are secure and follow the best practices.

Audit by OtterSec & Movebit

2. Brand New Web Design

We have redesigned our Web APP with a light blue theme and improved UI & UX. Our Web APP is now more user-friendly, responsive, and aesthetically pleasing.

You can easily navigate through different sections and access all the features with a few clicks.

Bucket New Web APP

3. Support several Sui wallets

We have integrated several sui wallets into our Web APP, such as Suiet, Ethos, Martian, and more. You can now connect your preferred wallet to our Web APP and start using Bucket Protocol to lend $SUI, borrow $BUCK, and stake on Tank.

Integrated Wallet

We’ve been on a roll, achieving remarkable milestones in the past few weeks. Stay ahead of the game and be the first to know about our partnership updates by following our social media channels.

Follow Bucket Protocol on Twitter

What’s next for Bucket ? Join Bucket Testnet Campaign to get NFT

We invite you to join us in the latest chapter of our journey “Bucket Testnet Launch”.

During this phase, you will have the exclusive opportunity to be the first to experience a new innovation on Sui DeFi, Bucket Protocol. Early adopters will also be able to earn a “Bucket Early User NFT”.

This NFT will grant you special privileges in the future as we continue to empower our community.

But don’t wait, this campaign will only last from June 22nd to June 27th 11:59pm GMT+8!

Bucket Testnet NFT — Early User

How to Participate in Bucket Testnet ?

By getting $BUCK, you need to have testnet $SUI in your wallet first, you can get by participating Zealy tasks.

If you have $BUCK already, please head to dashboard and create a position by deposition $SUI as collateral, and borrow minimum 500 $BUCK.

⚠️ Attention: Testnet $SUI price on Bucket Protocol is 10,000 times higher

①・Join Zealy Tasks

• Head to Bucket’s Zealy Tasks page, connect your account.
• Follow on @bucket_protocol Twitter.
• Retweet the pinned tweet and tag friends to receive your testnet $SUI tokens.

Join Zealy Tanks to get test $SUI !

② ・Use Bucket on Testnet

1. Connect to Bucket with your wallet on Testnet network
2. Click Dashboard and find “SUI”
3. Create position : deposit $SUI and borrow $BUCK (borrow minimum is 500 $BUCK)
4. Click approve in your wallet
5. Success! You have deposited collateral and will receive $BUCK in your wallet
6. Navigate to Earn, select SUI Tank and click deposit
7. Click approve in your wallet
8. Deposit success. You’ll see BUCK balance in this Tank.

Create Postion → Deposit $SUI → Borrow $BUCK

Earn → Deposit $SUI

What Is Bucket Tank?

Tanks are liquidity pools for collateral liquidations. In the event that the collateral ratio falls below 110%, the borrower’s positions will be liquidated, and the loan will be repaid using $BUCK provided within the Tank.

The liquidated collateral will be distributed to TANK contributors in accordance with their percentage ownership.

If Collateral Ratio < 110% , borrower’s position will be liquidated

How to Mint Bucket NFT

• Upon completing all tasks, your address will be eligible to claim an exclusive NFT.
• Head to the NFT Mint Page to secure your “Bucket Testnet Launch NFT”.
• You will see the Bucket Testnet NFT in your wallet.

Mint Bucket Testnet NFT — Early User

Stay tuned for more details as we’ll reveal what these privileges are after this campaign. 😉

Don’t miss this chance to be part of the Bucket revolution. Join us today and let’s make history together!

Try Bucket Protocol testnet today: app.bucketprotocol.io

About Bucket

Bucket is a CDP protocol built on the Sui network that enhances fund efficiency and stabilizes stablecoin prices via an instantaneous liquidation mechanism.

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