Buck, a digital asset technology company, has announced an update to its core yield-bearing token, increasing its annual yield to 10% and introducing automatic reward distribution for holders.
According to the announcement shared with Finbold on February 12, the changes take effect on February 12 and apply to the existing token rather than a newly issued asset.
Automatic rewards replace manual claims
The update raises Buck’s yield from 7% to 10%. The company has also removed its previous manual reward claim requirement, replacing it with automatic rewards distributed directly to holders’ wallets.
Previously, token holders were required to manually claim their yield through the Buck app. Under the new structure, rewards are distributed automatically, removing the need for active management and simplifying the holding process.
“This is a monumental step forward for the Buck ecosystem,” said Travis VanderZanden, CEO of Buck Labs. “The 10% yield and automatic yield distribution are not just features, they are a commitment to our holders’ future financial freedom. We’re aggressively positioning Buck to be the leader of the new SavingsCoin category, providing an unmatched value proposition that redefines digital asset holding.”
The company said the upgraded token features are designed to streamline the user experience while maintaining the existing token structure. Additional details on the updated yield mechanics are available on Buck’s website.
Featured image via Shutterstock.