What is Tranchess weETH Fund?
Tranchess weETH fund comes with four token types:
- turPWEETH: Maximized points earnings with a 40x multiplier
- staYWEETH: 10% Fixed APR and no points
- weethQUEEN: 4x points
- staYWEETH — weETH LP: points, trading fee, CHESS incentives and fixed yield
This five-month fund ends on December 15, 2024. Upon closing, all tokens can be converted back to weETH proportionally based on their fair values.
There is no lockup period. Users can swap their tokens back to weETH anytime they need to.
Track your Loyalty Points here.
Track your Scroll Marks here. All four tokens earn Scroll marks based on their USD values.
Can’t wait to participate? Check out the step-by-step guide and get started now!
Discover the ideal token for you
turPWEETH: Max points
Short for “Turbo Point weETH,” turPWEETH turbocharges your speed of earning weETH points. With an innate leverage of 10 and a bonus multiplier of 4 from ether.fi, turPWEETH earns Loyalty Points at a 40x rate.
turPWEETH gets all the point-shares allocated to staYWEETH, and pays staYWEETH a fixed interest rate as cost.
You can swap turPWEETH back to weETH anytime you want or hold it until the fund ends, at which point all turPWEETHs can be converted back to weETH.
There is a 3% protocol fee on the points allocated to turPWEETH.
staYWEETH: Fixed yield
Short for “Stable Yield weETH,” staYWEETH earns a fixed interest of 10% and no points. If you are looking for a fixed yield to accompany your weETH staking reward, this is the one for you.
Don’t confuse the fixed APR with the staking yield. The staking yield paid to weETH holders is separate from the fixed yield and will not be affected.
You can swap staYWEETH back to weETH anytime or hold it until the fund ends when all staYWEETHs can be converted back to weETH.
staYWEETH-weETH LP: Points, yield, CHESS incentives and trading fees
staYWEETH-weETH LP holders collect a basket of yield including the following parts:
- CHESS rewards: Weekly CHESS incentives
- Trading fee: 0.05%
- Interest: Partial interest from staYWEETH. For example, if one LP token consists of 0.6 staYWEETH and 0.4 weETH, the LP token would earn 0.6* 10% = 6% interest.
- weETH multiplier: Each weETH in LP receives a 4x multiplier of Loyalty Points. The calculation will be based on the amount of weETH you have provided in the pool.
weethQUEEN: Direct boost of 4x
1 weETH = 1 weethQUEEN. weethQUEEN earns Loyalty Points with a 4x multiplier. You can swap your QUEEN token back to weETH anytime you want.
One weethQUEEN can be split into 0.1 turPWEETH and 0.9 staYWEETH, and vice versa. You can always merge turPWEETH and staYWEETH back into weethQUEEN and redeem it back into weETH.
No lockup period, no creation/redemption fee, and no split/merge fee.
Don’t forget to check out this step-by-step guide to help you navigate around.
We hope the streamlined launch of new funds adds a nice touch to your summer days. As we keep building, there’s more on the way. Stay tuned!
