The savings-focused stablecoin project Buck has officially announced the gradual termination of its protocol and token operations. In a strategic shift to focus on upcoming ventures, the development team has committed to a 100% principal refund for all current holders. The project, which gained attention for its unique yield-bearing model pegged to the value of Bitcoin (BTC), has already activated its redemption channels to ensure a smooth transition for its user base.
Redemption Details and Asset Security
To facilitate the wind-down process, the team confirmed that the assets backing the protocol, specifically STRC and USDC, remain valid and are currently over-collateralized. This ensures that liquidity is sufficient to cover all outstanding tokens. The redemption window will remain open indefinitely until every holder has successfully reclaimed their funds.
- All holders are eligible for a full return of their initial investment.
- The redemption channel is currently active via the official protocol interface.
- Support for collateral assets ensures the 1:1 peg stability during the exit phase.
From Uber Executives to New Horizons
Launched in January 2026 by a group of former Uber executives, Buck was introduced as a savings token designed to offer an annualized return of 7%. By leveraging Bitcoin as a primary peg, the project aimed to provide a stable yet high-yield alternative within the decentralized finance (DeFi) ecosystem. The decision to sunset the project marks a pivot for the founding team, who stated they are now fully committed to a new, yet-to-be-disclosed blockchain project.
Despite the cessation of the Buck protocol, the team emphasized that the process is being handled with a focus on transparency and user protection. The transition reflects a broader trend of "responsible exits" in the crypto space, where developers prioritize the return of capital before migrating to new technological developments. Operations will continue solely to facilitate these final transactions until the ledger is cleared.
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