Cayman Islands-registered Buck Labs has introduced the “BUCK” crypto token, positioning it as a productive “savings coin” aimed at users seeking returns on dollar-denominated crypto holdings without relying on traditional stablecoins.
The token is backed by shares of Strategy (MSTR), the largest bitcoin holding company with nearly 675,000 BTC on its balance sheet.
BUCK is initially priced at $1 and is designed to distribute rewards currently targeted at around 7% per year, with returns accumulating minute by minute, Travis VanderZanden, founder and CEO of Buck Labs, told CoinDesk. BUCK is not marketed as a stablecoin and does not maintain a firm peg to the dollar, meaning its price can fluctuate depending on market conditions.
The rewards distributed to holders are funded indirectly by the foundation’s holdings of Strategy’s bitcoin-linked perpetual preferred stock, known as STRC, which pays periodic income to the treasury. Strategy and its president Michael Saylor are not affiliated with Buck and do not sponsor or endorse the token.
“Any healthy economy needs both a way to spend and a way to save, which is why Buck is introducing SavingsCoin,” said VanderZanden, who previously held leadership positions at Bird, Lyft and Uber. “Stablecoins have become very efficient at moving money, but Buck is designed for what happens in between, earning rewards on unused capital.
BUCK is structured as a governance token, with holders allowed to vote on reward distribution and other protocol decisions. The company said the token was initially intended for non-US users and was not offered as a security.
VanderZanden said the product is aimed at users who want predictable crypto-based returns without actively trading. “People want an easy way to earn rewards in crypto without becoming speculators,” he said. “Buck is designed to make saving in crypto more intuitive.”
Buck Labs said the product is designed to complement, rather than replace, existing stablecoins by offering a savings-focused alternative for long-term holdings.
