Buck Labs has unveiled BUCK, a new “savings coin” that aims to give dollar-denominated crypto holders a yield-bearing alternative to traditional stablecoins. Launched out of the Cayman Islands, BUCK is initially priced at $1 and is designed to distribute rewards currently targeted at roughly 7% annually, with returns accruing minute-by-minute, the company’s founder and CEO Travis VanderZanden told CoinDesk. What sets BUCK apart is its backing: the token is indirectly supported by the foundation’s treasury holdings of STRC, a bitcoin-linked perpetual preferred stock issued by MicroStrategy (ticker: MSTR). MicroStrategy — led by chairman Michael Saylor — is the largest corporate holder of bitcoin, with nearly 675,000 BTC on its balance sheet. The STRC instrument pays periodic income to the treasury, and those payments are the source of rewards for BUCK holders. Buck Labs stresses that MicroStrategy and Saylor are not affiliated with, nor do they sponsor or endorse, the token. BUCK is explicitly not being positioned as a stablecoin and does not maintain a hard dollar peg, so its market price can move with supply and demand. The token is structured as a governance token, giving holders voting rights over reward distribution and other protocol decisions. Buck Labs said the offering is intended for non-U.S. users initially and is not being offered as a security. “Every healthy economy needs both a way to spend and a way to save, which is why Buck introduces the SavingsCoin,” VanderZanden said. A former executive at Bird, Lyft and Uber, he emphasized the product is aimed at users who want predictable crypto-based returns without becoming active traders: “Stablecoins have become very good at moving money, but Buck is designed for what happens in between — earning rewards on idle capital.” Buck Labs frames BUCK as complementary to existing stablecoins rather than a replacement, pitching it as a savings-focused option for longer-term, dollar-denominated crypto holdings. Potential users should note the token’s yield depends on income from STRC and its market value is not guaranteed, making it a different risk profile than fully collateralized stablecoins. Read more AI-generated news on: undefined/news

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