Today marks a significant milestone as we introduce Tranchess STONE Fund, the result of an exciting collaboration between Tranchess, StakeStone, and Scroll. Maximize your points and yield with Tranchess while enjoying the streamlined one-stop staking solution of StakeStone on Scroll!
What is Tranchess STONE Fund?
Customized for STONE points and rewards on the Scroll network, Tranchess STONE fund is our classic QBR structure with a twist:
- turPSTONE: Maximized points earnings
- staYSTONE: Fixed APR and no points
- stoneQUEEN: 1x points
- staYSTONE — STONE LP: points, trading fee, CHESS incentives and fixed yield
This is a six-month fund that ends on October 8, 2024. Upon closing, all tokens will be converted back to STONE proportionally.
There is no lockup period. Users can swap their tokens back to STONE anytime they need to.
Make sure to register your wallet address in StakeStone Carnival before the event is over! (Tranchess Official Invite Code: CHESS) While you start accumulating points as soon as you hold turPSTONE, stoneQUEEN, and the LP token, StakeStone cannot recognize and count your points until you register and activate the address. For more on StakeStone Carnival, check out their upgraded rules here.
turPSTONE: Max points
Short for “Turbo Point STONE,” turPSTONE turbocharges your speed of earning STONE points. With an innate leverage of 10 and a bonus multiplier of 2 from StakeStone, turPSTONE earns STONE-W1 points at a 20x rate.
turPSTONE gets all the point-shares allocated to staYSTONE, and pays staYSTONE a fixed interest rate as cost.
You can swap turPSTONE back to STONE anytime you want or hold it until the fund ends when all turPSTONEs will be converted back to STONE.
staYSTONE: Fixed yield
Short for “Stable Yield STONE,” staYSTONE earns a fixed interest of 6% and no points. If you are looking for a fixed yield to accompany your STONE staking reward, this is the one for you.
Don’t confuse the fixed APR with the staking yield. The staking yield paid to STONE holders is separate from the fixed yield and will not be affected.
You can swap staYSTONE back to STONE anytime or hold it until the fund ends, when all staYSTONEs will be converted back to STONE.
staYSTONE-STONE LP: Points, yield, CHESS incentives and trading fees
staYSTONE-STONE LP holders collect a basket of yield including four parts:
- CHESS rewards: Weekly CHESS incentives and CHESS emission. (First week’s incentives: 100,000 CHESS!)
- Trading fee: 0.05%
- Interest: Partial interest from staYSTONE. For example, if one LP token consists of 0.6 staYSTONE and 0.4 STONE, the LP token would earn 0.6* 6% = 3.6% interest.
- STONE multiplier: Each STONE in LP receives a 2x multiplier of STONE-W1 points. The calculation will be based on the amount of STONE you have provided in the pool.
stoneQUEEN: The magic of the Tranchess structure
1 STONE = 1 stoneQUEEN. One stoneQUEEN can be split into 0.1 turPSTONE and 0.9 staYSTONE, and vice versa.
Users receive the same STONE-W1 points holding stoneQUEEN as they do with STONE. However, if you split stoneQUEEN into turPSTONE and staYSTONE and hold both tokens (no further actions needed), because of the leverage and boost for turPSTONE, you would immediately double your overall point multiplier into 2x.
You can always merge turPSTONE and staYSTONE back into stoneQUEEN and redeem it back into STONE. There is no lockup period, no creation/redemption fee, and no split/merge fee.
Of course, the benefits don’t end here. By operating on Scroll, users unlock the added advantage of earning Scroll Marks alongside participation in the Tranchess STONE Fund. Find out more about Scroll Marks on Scroll’s official announcement.
We are excited to embark on this new chapter with our users. Stay tuned as we release more information in the coming days!
