Buck has unveiled a major upgrade to its yield-bearing token, infusing it with a generous 10% APY in a move that’s sure to spark industry-wide interest. The raise to 10% from its previous level of 7% significantly increases the attainable yield available to Buck token holders. At the same time, the Buck team have deployed a number of other enhancements including automated rewards that will eliminate user friction. Buck Ups the Yield Competition among DeFi yield protocols is intense, with each clamoring to safely maximize rewards in a responsible and ultimately sustainable manner. The more yield you can share with users, the more users you’ll attract – and the more loyal your existing users will become. Though not technically competing against synthetic stablecoins – whose yield-bearing analogs pay high single- or low double-digit rewards – there are clear overlaps between Buck and assets such as USDs. In the case of the former, however, Buck users don’t need to stake their stable to earn rewards. This is the very embodiment of passive income. Billed as the world’s first “SavingsCoin,” Buck is built different from conventional yield-bearing stables in a couple of ways. For one thing, yield accrues in real-time, before being collectable in holders’ wallets at the end of each month. It also doesn’t require staking, unlike the vast majority of yield-bearing products. These core properties have now been complemented by a new automatic rewards system that distributes earnings directly to holders. Prior to this, they had to claim manually. These upgrades mean that Buck can now claim to offer one of the most user-friendly products on the market. A New Category Is Born The Buck team is pushing hard for SavingsCoins to become a new crypto category – containing Buck, naturally, and any other emerging assets that fit into this bracket. The idea is that Buck sticks to its dollar peg while, in the background, holders earn yield that stacks up steadily. The longer you hold, the more you’ll earn. When a new month arrives, it’s just a question of collecting the rewards that have been directed to your wallet. Regardless of whether the SavingsCoin moniker takes off, Buck appears to have momentum behind it, and the latest improvements – not least the 30% yield boost – will do its prospects no harm. Automation – together with composability and interoperability – is one of the defining trends in DeFi right now, as protocols look to eliminate multiple hops that impair user experience, be it bridging or claiming rewards. For crypto users who just wanna save, without taking on undue risk or volatility, products such as Buck hold natural appeal. These are the sorts of solutions that will help mainstream crypto, making it easier for non-technical users to onboard and start taking advantage of opportunities to grow their wealth. With its yield hitting double figures, Buck has upped the ante for stablecoin projects. It’s now a yield leader – and according to its team, the best is yet to come. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
