With the debut of the world’s first Bitcoin Dollar savings coin, the Buck Foundation is creating a new type of digital asset that is meant to provide predictable returns, accessibility on a worldwide scale, and profits on a minute-by-minute basis. Buck is the first product offered by the firm, and it is designed to be a savings-focused supplement to the stable assets that are available today. Buck provides 7% annual rewards that accumulate by the minute, along with minimal transaction costs.
The incentives that Buck, which is a governance token by design, provides are made possible by the fact that it is indirectly backed by Bitcoin via its treasury holdings of STRC, which is Strategy’s Bitcoin-backed perpetual preferred stock. Buck’s Treasury receives a monthly return of capital from STRC, which is calculated at a variable yearly rate. Holders of Buck tokens have the ability to vote on whether or not these profits should be distributed directly to holders. This would result in the creation of a transparent savings community that would be backed by STRC’s overcollateralization with Bitcoin and its proven financial structure.
A long-time Bitcoin investor and an experienced operator who has established and grown a large number of consumer technology firms, Travis VanderZanden is the founder and CEO of Buck Labs, a technology company situated in the United States of America. In his capacity as the founder and former CEO of Bird, he oversaw one of the most rapid worldwide expansions in the history of technology, all while maintaining tight relationships with city governments and authorities in hundreds of different countries globally.
His prior leadership positions at Lyft and Uber further molded his ability in promoting consumer acceptance at scale and negotiating complicated operational situations. He has been instrumental in the development of these skills. The move that VanderZanden has made into digital assets is indicative of a movement toward the creation of transparent and long-lasting financial instruments that put an emphasis on user trust and regulatory preparedness.
“People want a simple way to earn rewards in crypto without becoming speculators, and that is exactly what Buck is designed to provide,” said Travis VanderZanden, CEO of Buck Labs. “By providing access to the Bitcoin Dollar with 7% rewards, we aim to make saving in crypto intuitive and accessible for everyone.”
Holders of Buck are allowed to trade at any time of the day or night, as opposed to being restricted to typical market periods. Buck was originally valued at one dollar per token. Bucks are also eligible for incentives that are determined by the length of time that they have held the token. The framework makes it possible for people to invest and withdraw the digital asset directly, without having to depend on the infrastructure of banks or the conversion of fiat currency currencies. The business anticipates that this will result in a reduction in friction and will make savings incentives available to a more extensive worldwide audience. With the goal of providing a savings experience that is both borderless and user-friendly, Buck intends to integrate the STRC financial underpinning of Strategy with the flexibility of Web3.
“The crypto market has matured significantly, and users now expect both immediate utility and reliable growth, much like having a checking account for everyday transactions and a dedicated savings account. In this new financial model, stablecoins act as the checking account, providing the easy payment liquidity needed for daily activity. Meanwhile, Buck is positioned as the high-reward savings coin, delivering dependable, predictable returns and financial discipline,” VanderZanden said. “Our goal is to make consistent savings a core financial function of crypto.”
The first Bitcoin Dollar savings coin in the world was developed by Buck Labs Inc., a digital asset technology business with headquarters in Miami, Florida. Buck Labs Inc. is also the creator of the Bitcoin Dollar. Buck provides a savings community that is both flexible and accessible on a worldwide scale. Buck’s yearly rewards are computed by the minute and may be withdrawn at any moment.
Not intended for US persons. Not an offer of securities or investment advice. Check local regulations for token purchase restrictions. Rewards based upon DAO governance token vote, Cayman Foundation approval, and discretion of BVI Token Issuer, less taxes and fees and subject to change based upon DAO chosen preferred equities rates and distribution decisions. Price floats based upon market demand. Terms and Conditions apply.
