Bucket Upgrade and Migration

This page explains the major Bucket upgrade and how to migrate from the legacy system. It is intended for:

  • Legacy CDP users

  • BUCK holders (including BUCK Savings positions)

What changed — background & purpose

The upgrade focuses on cost efficiency, clarity, and safety:

  • One-time borrow fee (0.3%) removed With Recovery Mode gone, a borrow fee is no longer necessary. This aligns with market practice and makes borrowing more cost-efficient (Interest fee only).

  • Recovery Mode removed Reduces user learning cost and eliminates unpredictable, system-level risk interactions — you only monitor your own CR(Collateral Ratio) / liquidation price.

  • Tank removed (protocol-run liquidations) Liquidations are fully handled by the protocol. An improved liquidation mechanism (to further reduce user liquidation risk and potential loss) is on the way.

  • Position ordering removed The system no longer requires CDP ordering. This improves scalability and removes the minimum debt constraint.

Result: a simpler, safer, more cost-efficient, and more flexible CDP system.

Migration phases

Bucket runs migration in phases (progression depends on migration uptake).

  • Phase 1 — Legacy usable, migration encouraged

    • CDP: Legacy positions remain fully functional. New CDPs offer no borrow fee and higher Borrow Rewards.

    • Stablecoin Savings: Higher APR on the USDB Savings Pool to encourage migration.

  • Phase 2 — Legacy exit-only

    • CDP: Legacy position becomes exit-only (no new Borrow, no new positions), BUCK minting disabled.

    • BUCK Savings Pool: Withdraw/Migrate only.

  • Phase 3 — Legacy hidden

    • The app UI no longer shows legacy CDPs / BUCK Savings positions.

Old positions → New positions

Legacy
New
Conversion
Fee

BUCK

USDB

1:1 via Migrate

No fee (gas only)

Legacy CDP (BUCK-denominated debt)

New CDP (USDB-denominated debt)

One-click Migrate CDP

No fee (gas only)

BUCK Savings Pool

USDB Savings Pool

One-click Migrate Savings position

No fee (gas only)

Migrate CDP (legacy → new)

What happens

  • Your debt unit changes from BUCK to USDB.

  • The position moves to the new CDP mechanism (no borrow fee; fixed per-asset rate; protocol-run liquidation).

  • Collateral, notional debt, CR, and liquidation price remain the same.

Step-by-step

  1. Open Dashboard → find the legacy position → click Migrate (Only for collateral that supported by New Market).

  2. Review the preview.

  3. Confirm to execute (Migrate).

  4. The position reappears as a USDB-denominated CDP under the new CDP model (New position).

Notes

  • You do not need to close and reopen the vault.

  • Borrow fee = 0 on the new CDP model.

Migrate Stablecoin Savings

What happens

  1. Withdraw BUCK from BUCK Savings Pool.

  2. Migrate BUCK → USDB (1:1).

  3. Deposit USDB into USDB Savings Pool.

Step-by-step

  1. Open Dashboard → find your BUCK Savings position → click Migrate.

  2. Review the preview.

  3. Confirm (Migrate).

  4. Your new Savings position appears on New position page (USDB Savings).

Costs & requirements

  • Protocol migration fee: None (all flows above are fee-free from the protocol).

  • Network fee: You need some $SUI for gas.

After migration — what to expect

  • CDP: Shown as a New position on your Dashboard, with fixed interest rate and no one-time borrow fee.

  • Stablecoin Savings: Shown under Stablecoin Savings as USDB. Rewards are claimable anytime (Higher APR).

PrevioussUSDB and YieldNextBorrowing

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