Bug, the Cayman Islands-based 'Bitcoin-linked savings coin' officially launched

Buck Labs, registered in the Cayman Islands, has introduced a new cryptocurrency token called “Buck (BUCK).” This product is specially developed for users seeking real returns on dollar-denominated cryptocurrency holdings and has a distinctly different positioning from existing stablecoins. Buck Labs positions this as a ‘profit-generating savings solution’ rather than just a remittance tool, initially targeting global users outside the United States.

Innovative Structure Based on Bitcoin Assets

The core of Buck is directly linked to the Bitcoin holding strategy of Strategy (MSTR) led by Michael Saylor. The strategy is known to hold approximately 675,000 Bitcoins on its balance sheet, providing the value basis for the Buck token. Travis VanderZanden, founder and CEO of Buck Labs, explained, “All healthy economic systems require both spending and saving means,” describing the development purpose of this product. Buck has set an initial price of $1 and is designed to generate an annual return of about 7%.

Fundamental Difference from Stablecoins

The most important feature that distinguishes Buck from existing stablecoins is that it does not maintain a fixed peg system. While typical stablecoins are designed to maintain a fixed price of $1, Buck is open to price fluctuations depending on market conditions. CEO VanderZanden emphasized, “Stablecoins are excellent for fund transfers, but Buck is designed to generate returns from idle capital.” Profits are accumulated on a per-minute basis and are indirectly funded through the Buck Foundation’s treasury assets.

Cayman Islands-Based Global Regulatory Strategy

Buck’s registration in the Cayman Islands is not just a matter of corporate setup. This jurisdiction, favored by financial innovation companies, offers relative flexibility within the global regulatory environment while meeting international standards. Buck Labs clarified that this product is not offered as a security and initially targets non-U.S. users. These regional restrictions appear to be a strategic choice to respond to various regulatory environments worldwide.

Governance Structure and Community Participation

Buck is structured beyond a simple profit-generating tool as a governance token. Holders can vote on profit distribution methods and other key protocol decisions, realizing a community-centered decision-making model. VanderZanden stated, “People want a simple way to earn crypto rewards without becoming speculators,” and “Buck was built to make crypto savings more intuitive.”

Practical Solution for Long-Term Holders

Buck Labs defines this product as a complement rather than a replacement for existing stablecoins. It primarily targets users who desire predictable crypto-based returns without active trading. While investors trust Bitcoin and the crypto market, they prefer not to participate in highly volatile trading. Buck offers a new option for these investors. This positioning reflects the evolving need for profit generation as the cryptocurrency market matures.

For reference, Strategy and its chairman Michael Saylor are explicitly stated to have no direct relation to Buck and do not sponsor or endorse this token. This demonstrates clear separation of responsibilities and transparent disclosure of relationships.