Tranchess 2022 Recap: A Year of Development & Building

Tranchess
6 min readFeb 18, 2023

Troopers, it’s been a full year of building in 2022 and we want to go through everything that’s happened since! Despite an arduous bear market and it being a difficult year for many in the crypto industry, we’ve continuously marched along by shipping new products, staying nimble, and setting up Tranchess to grow into the DeFi powerhouse it was born to be. As a result, 2022 was a year marked by a multitude of accomplishments and events.

In this recap, we want to celebrate all the milestones together with the troopers and CHESS holders alike, as well as provide an overview on what is planned for 2023.

Let’s start with some of the major milestones first!

Tranchess Establishes BNB Chain Validator

Early in January 2022, we launched our BNB fund announcing our establishment as a BNBChain validator. This marked a key aspect in Tranchess’ roadmap of ensuring consistent, secure, and profitable yield for all Tranchess BNB fund users!

Furthermore, Tranchess continuously established itself as a top validator node on BNBChain as the validator node infrastructure of the chain evolved to 42 validators to ensure chain uptime and resilience. Even then, Tranchess continued to maintain its position as a top 21 node (aka cabinet node) and consistently providing high APRs for its users.

Tranchess Validator Node Returns (Source: bnbchain.org/staking)

Tranchess has continuously given the effort and time to gain expertise in validator staking on BNB Chain to accumulate all the learnings into their liquid staking products. This experience has paved the way to a strong technical foundation of knowledge, team-wide expertise and proper management, covering all facets of the liquid staking game to capture a perfect balance between security, innovation and value.

Tranchess V2 — Welcome, Liquidity

TranchessV2 symbolized a key upgrade in Tranchess’ previous points of improvement: liquidity and user experience. With TranchessV2, users experienced a whole new user interface with numerous improvements:

  • Instant Swapping via Automated Market-Making
  • Liquidity provision abilities to enhance yield opportunities for users
  • Improved user interface to provide a seamless interactive experience
  • Multi-fund governance voting

TranchessDAO Established and Development

A key event was the establishment of Tranchess’s Decentralized Autonomous Organizational Structure: TranchessDAO. Many features were included to provide fund users and CHESS holders the ability to influence not only pivotal decisions in Tranchess’ development trajectory but also CHESS fund emissions and yield.

We wanted users to have the ability to vote on CHESS allocation across funds based on their preference:
https://twitter.com/Tranchess/status/1491777374874378241?s=20

Tranchess Trooper of the Month initiative was launched to incentivize contributions and improve the quality of the overall community.

TranchessDAO overall has been successful in giving users the ability to influence the development of Tranchess and allow troopers in general to vote based on their personal preferences. As such, Tranchess has exciting plans for 2023 in store with TranchessDAO empowerment. Tranchess, as a pioneer in the DeFi space, also wants to engage in innovations within the efficiency of decentralized autonomous organizations. Whilst being decentralized is at the top of Tranchess’ priorities, the structural organization and functions of how TranchessDAO operates can be optimized (we believe!). The empowerment of TranchessDAO includes electing a particular set of people to be the outspoken voice of the community, with direct channels of communication with the Tranchess core team and powerful voting powers directly affecting Tranchess’ long term development trajectory. More specific plans will be communicated much sooner than you think so sit tight, trooper!

Tranchess Goes Multichain

With the Ethereum merge transitioning the network from Proof-of-Work to Proof-of-Stake, Ethereum allowed us to fully implement the PoS validator staking model with Tranchess’ Ethereum fund. As planned, Tranchess expanded onto Ethereum on Nov 25, opening up the qETH liquid staking product in the all-familiar guarded launch fashion.

Since November, the Tranchess team has been aggressively building the product to ensure the required infrastructure and platforms are available for qETH to achieve a sustainable liquidity amount. This includes partnerships with:

Balancer for Liquidity Opportunities

RockX to improve Decentralized Liquid Staking

Multichain for a Seamless Multichain Experience

Our qETH node has gotten off to a great start and we do not expect the traction to slow down!

qETH Staking Amount on Ethereum (Source: https://dune.com/fuming/tranchess-v2)

More information is included towards the end of this recap, but our qETH liquid staking product will be a primary focus for Tranchess! Multichain expansion doesn’t just stop here…

Brand Recognition, Events, and Growth

Throughout the year, we hosted numerous events, won multiple awards, and grew the Tranchess brand tremendously, establishing ourselves as a core contributor to the development of the overall BNBChain DeFi ecosystem. Don’t believe us? Here, we’ll list them out for your convenience:

BNBChain June dApp Stars

BNBChain July Project Stars

BNBChain Revelation Hackathon Host

Binance Blockchain Week Paris — Speaker & Sponsor

Token2049 Speaker

BNBChain Lunar New Year Host

We won’t cover all of the AMAs and interviews as this recap would end up being 10 pages long, but just know that we counted and we participated in 31 events (i.e. 1 AMA or interview every 10 days!)

Our social media figures have continuously grown by 263%, 170% and 185% on Twitter, Telegram and Discord respectively. Our brand and following consistently grew throughout the bear market, where we outperformed most of the top 20 BNBChain protocols (stats from LunarCrush).

Finally, the Tranchess brand did not only grow in the crypto native realm, but also we were featured frequently in wider global media including newsletters! Tranchess was a frequent feature in articles discussing DeFi, market growth trajectory, BNBChain activities and more. Media outlets who featured Tranchess include:

  • Forbes
  • Bloomberg
  • Forkast
  • StraitsTimes
  • CoinTelegraph
  • CoinDesk
  • Yahoo! News
  • DeFiant
  • Bankless
  • MoneyFM
  • The Block
  • StockHead
  • BusinessInsider

All URLs to the articles where Tranchess was featured will be updated over time in TranchessWiki!

2023 — Liquid Staking? Enter Tranchess

Since the genesis of Tranchess, we have always focused on consistent and secure yield for our users. We strongly believe in the ability of validator node staking to be a significant market that we are primed to enter the liquid staking market especially given our recent developments:

  • Tranchess V2 provides a smooth user experience with optimal liquidity provision opportunities for users
  • We bring our experience as a reliable validator node provider on BNBChain to Ethereum
  • Our partnerships with Multichain, Balancer, RockX and many other protocols are the tip of the iceberg to aid the setup of qETH as a liquid staking derivative competitor alongside the popular stETH of Lido and rETH of RocketPool
  • Tranchess’ innovative tranche-fund infrastructure allows users to benefit in all market conditions via ROOK and BISHOP
  • Our constant ability to consistently introduce valuable structured products into the DeFi ecosystems shows both our innovative abilities, technical strength and paves a path for creating strong synergies within the Ethereum DeFi ecosystem
Tranchess Milestone Timeline (Updated Jan 2023)

With the release of our updated 2023 Milestone Timeline, all directions point towards establishing qETH as a top liquid staking derivative product. We have so many developments, partnerships and exciting news in store for all troopers and CHESS holders alike. We cannot wait to bring you along for the ride you’ve all been waiting for!

With that, we’d like to conclude the 2022 recap! We as the entire Tranchess team deeply appreciate and honor all of you that have supported us throughout this journey. Remember: we are only getting started, and we will be honored to have you alongside us.

That’s all, troopers. Stay tuned to news and we look forward to speaking with you soon!

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Tranchess

A Yield Enhancing Asset Tracker with Varied Risk-Return Solutions. https://www.tranchess.com/