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Buck Winds Down Protocol and Token Operations, Keeps Redemptions Open

The team said all holders have received 100% of principal back, while STRC and USDC backing remains valid and overcollateralized during the redemption process.

USDC

Summary

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Terms & Concepts
  • Overcollateralized: A structure backed by collateral worth more than the liabilities it supports, providing an added buffer during redemptions.
  • Redemptions: The process that lets token holders return an asset and receive the underlying backing or equivalent value.
  • USDC: A U.S. dollar-pegged stablecoin designed to maintain a 1:1 value with the dollar through reserve backing.