Optimizing Your Tranchess STONE Fund Experience — a Checklist
Before we dive into the details, check out the user guide below if you are new to Tranchess:
Tranchess STONE Fund User Guide
And for our Chinese users, we have a Chinese version for you:
Tranchess STONE Fund User Guide (CHN)
Video Walk-through of Tranchess STONE Fund (Credit to 3D)
A week into the launch of Tranchess STONE Fund, we definitely feel the enthusiasm from the communities. We want to make sure you are using everything that the Tranchess structure is capable of to maximize your gains, whether you are here for points or yield (or both!). This guide is prepared after summarizing some of the most commonly asked questions and observing the on-chain data. Use it as a checklist to ensure you are not missing out on any yield you could’ve earned!
stoneQUEEN: Two Is Always Better Than One
Did you know that stoneQUEEN has a unique design that can instantly double your points-earning multiplier from 1x to 2x? This is a shout-out to all our lovely users who have created stoneQUEEN with their STONEs: split your stoneQUEEN up and start earning 2x StakeStone points!
Is there any cost to split stoneQUEEN?
Nope (except for the gas fee).
What will I get after splitting stoneQUEEN?
For every one stoneQUEEN that you split, you will receive 0.9 staYSTONE and 0.1turPSTONE.
Do I need to do anything else with the two tokens to earn 2x points?
Nothing. Simply hold the staYSTONE and turPSTONE in your wallet like you did for stoneQUEEN. This will double your points earned and provide extra interest earned from staYSTONE.
Can I get my STONE back before the fund ends like I do with stoneQUEEN?
You can always merge the two tokens back into stoneQUEEN and then redeem your stoneQUEEN into STONE at any time — there is no fee for merging or redeeming. You will get exactly the same amount of stoneQUEEN you used to split.
Check out the step-by-step guide for splitting if you don’t know where to find it.
staYSTONE: Take Advantage of Its Discounted Price While It Lasts
We took your advice and updated our UI (thank you for your input); now you can see the current trading price for staYSTONE and turPSTONE in STONE amount.
Because staYSTONE is now trading at a discount, its implied yield is significantly higher than the 6% fixed interest earning. You can find the detailed explanation and calculation here.
With 167 days remaining as of today, here is a rough estimate of how the implied yield will vary when staYSTONE trades at different prices:
If you want an extra fixed yield for your STONE, swap it to staYSTONE before the discount fades.
staYSTONE-STONE LP: A Sampling of Everything
LPs earn points, fixed yield, trading fee, and CHESS. While most might already be familiar with the first three parts, here is a breakdown of the CHESS rewards.
CHESS rewards include two parts:
- Weekly CHESS allocation to all Tranchess funds and pools. The exact ratio is determined by governance voting. You can check the precise ratio of the staYSTONE-STONE pool here. Voting ends every Thursday, and the voting result will determine next week’s allocation. By the time of this writing, over 13% of next week’s CHESS emission is voted to the staYSTONE-STONE pool.
- CHESS incentives for the STONE fund. This incentive, allocated only to the staYSTONE-STONE pool from the Tranchess treasury, is a bonus on top of Stone’s 2x multiplier.
First week’s CHESS incentives: 100,000.
Second week’s CHESS incentives: 150,000
As an LP, if you have earned CHESS rewards already, remember to lock them into veCHESS. You can participate in governance voting with veCHESS to get more CHESS allocation for your pool. Further, veCHESS would also boost your CHESS rewards from the LP pool(potential max: 3x)! Check out the details here on becoming an LP.
turPSTONE: Points, Points and Points
turPSTONE is now trading at a premium, and that’s how attractive STONE Point is. A quick update regarding the high demand for adding a “Max” button to buy turPSTONE: we are adding a side contract to solve the need. Testing and deployment are on the way, and we will update this feature for the front end in the coming days.
Since we are talking about points, here’s a quick reminder about the Scroll Session in case you haven’t seen it yet. More details will be revealed soon!
One More Thing
Remember to register your wallet address with StakeStone Carnival, so your points are accurately counted. You can register anytime BEFORE the fund ends on October 8, 2024.
As said, we hope this article serves as a checklist for your portfolio — we don’t want you to miss out on any chunk of earnings just because you missed a step or two. Tranchess STONE Fund is the first deployment we have on Scroll, the third Chain Tranchess crossed to. Stay tuned for more updates and exciting developments as we embark on this ing voyage!
