A former Uber executive launched Buck, a savings token pegged to Bitcoin, with an annualized return of 7%.
TL;DR
Former Uber executive Travis VanderZanden launched Buck, a Bitcoin-pegged savings token offering 7% annual returns with no collateral or lock-up. It aims to counter US dollar devaluation and is available globally except the US, requiring AML checks for transactions.
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Odaily Odaily reports that Travis VanderZanden, founder of Buck and former Uber/Lyft executive, announced the official launch of Buck ($BUCK), a savings-type stablecoin positioned as the "dollar of the Bitcoin world." It offers a 7% annualized return, requires no collateral, has no lock-up period, and involves no lending. Buck aims to combat the devaluation of the US dollar, introducing the new concept of "SavingCoin," emphasizing immediate returns on deposits, high liquidity, and stressing that "users should enjoy the returns, not become the product." Buck is not available to US users and is currently available on the official website buck.io.
Buck Token (BUCK) holders can earn monthly rewards of Strategy Inc.'s STRC preferred stock by participating in Buck DAO. All buyers and sellers must undergo anti-money laundering (AML) audits before any transaction.