Tranchess

Tranchess is a yield-enhancing asset tracker protocol with varied risk-return solutions. The concept of Tranchess was first incepted in early 2020 and was developed quickly into its current state. Inspired by tranche funds’ ability to satisfy users’ varying risk appetites, Tranchess aims to provide a different risk/return matrix out of a single main fund that tracks a specific underlying asset (e.g. BTC, ETH, BNB) or a basket of crypto assets.

Tranchess’ ecosystem constitutes four different tokens: QUEEN, BISHOP, ROOK, and CHESS.

QUEEN: QUEEN is created by depositing BTCB, ETH or BNB via the Primary Market of Tranchess. QUEEN is designed for long-term HODLERS of the underlying crypto assets and provides an additional yield that ranges between 2% to 16%, depending on the fund.

BISHOP: BISHOP is created by splitting QUEEN in the Primary Market of Tranchess. Every QUEEN token can be split evenly into 0.5 BISHOP and 0.5 ROOK. BISHOP is designed for investors who want to receive higher yields on their stable coins. BISHOP currently provides an APY between 7% to 22%, depending on the fund.

ROOK: ROOK is created by splitting QUEEN in the Primary Market of Tranchess. Every QUEEN token can be split evenly into 0.5 BISHOP and 0.5 ROOK. ROOK is designed for aggressive investors who want to take a leveraged position on a certain crypto asset. ROOK protects investors from forced liquidation and earns an additional yield between 1.5% to 10% on top of the 1.7~2.2 times leveraged position.

CHESS: After users stake their QUEEN, BISHOP or ROOK tokens on Tranchess, they start farming CHESS, the governance and utility token of Tranchess. Users can also obtain CHESS on Binance or Pancake Swap.

What is CHESS?

CHESS is the governance token of the Tranchess protocol. Users farm CHESS by staking their QUEEN, BISHOP and/or ROOK tokens. CHESS is also available on Binance and Pancake Swap.

Lock CHESS creates veChess, which enables users to participate in Tranchess’s weekly rebate and governance votings.