TL;DR
- Buck launched a stablecoin described as a “dollar for the Bitcoin world,” with no declared collateral and a 7% annual yield, available only outside the United States.
- Its model avoids traditional reserves, lending, and lockups: the yield is credited directly, positioning Buck as a “SavingCoin.”
- The project does not explain how the 7% yield is generated, leaving open questions about its long-term viability and scalability.
Buck enters the market with an unusual proposal for a stablecoin: a “dollar for the Bitcoin world,” without declared collateral and offering a 7% annual yield from day one. The project is already live and operates with access limited to non-U.S. users, alongside mandatory AML compliance.
The core difference lies in the model. Buck does not follow the classic structure of stablecoins backed by cash reserves or liquid assets. It also avoids lending protocols and does not impose lockup periods. The yield is credited directly, placing the product closer to a savings instrument than to a simple medium of exchange. This approach has been defined as a “SavingCoin,” a stablecoin designed to retain capital and deliver immediate returns.
Buck’s Disruptive Model
The design explicitly targets the Bitcoin market. Buck aims to fill a functional role within that ecosystem, offering a dollar-denominated alternative for users who prioritize operational simplicity and fixed returns. The absence of collateral is both its main appeal and its biggest point of scrutiny. The project does not publicly detail the mechanism behind the 7% yield, leaving open the debate around the model’s sustainability across different market conditions.
Geographic restrictions are another key factor. Buck is not available to U.S. users, a decision that limits its initial reach but also avoids direct exposure to a stricter regulatory environment. That constraint may ease early deployment, while at the same time capping market depth and potential liquidity at this stage.
Muted Market Response
So far, the market reaction has been muted. There have been no notable statements from industry figures or regulatory authorities. The project is circulating, but it has yet to show clear signs of mass adoption, meaningful volume, or integration with other platforms. At this point, Buck operates more as a thesis than as an established standard.
The stablecoin market continues to explore formats beyond traditional backing and purely transactional use cases. Buck is betting on attracting capital through yield and a simple narrative. The challenge will be sustaining that promise over time, building trust, and proving that a model without explicit collateral can scale without creating operational stress or systemic risk
