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)

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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.

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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.

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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)

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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.

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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).

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Costs & requirements

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

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

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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).