Tranchess Onboarding Program Explained

Tranchess
4 min readMay 11, 2023

In celebration of a successful Shanghai Upgrade, Tranchess is launching a 4-week incentive program with a total reward of 500,000 CHESS tokens for all eligible qETH stakers! In this article, we will elaborate on the details of the program, how to participate, and how to claim the rewards.

TL;DR

Eligibility to Participate

Non-contract wallet addresses who received or sent at least 0.1 stETH, rETH, frxETH, sETH2 or ankrETH in a single transaction between 2022–04–13 and 2023–04–12 00:00:00 UTC.

Rewards

A total of 500,000 CHESS tokens will be allocated across the four-week program. Specifically:

Week 1: 50,000 CHESS

Week 2: 100,000 CHESS

Week 3: 150,000 CHESS

Week 4: 200,000 CHESS.

How to earn the CHESS Airdrops

Keep qETH in the eligible wallet addresses on the snapshot day. All snapshots will be taken at 14:00:00 UTC, so make sure to get your qETH ready beforehand!

Step-by-Step Guide

Answer your boarding call and access the program from the link on the front page:

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Connect the wallets that have made the above-mentioned transactions between 2022–04–13 and 2023–04–12 00:00:00 UTC and check for eligibility:

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If the address connected is eligible, you will see the prompt below:

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Ineligible addresses will receive the following notice:

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Under the notice, you can find the countdown window to the upcoming snapshot day, the CHESS allocation amount for each week, and the amount of CHESS tokens allocation you would be able to claim post-snapshot:

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The CHESS rewards users can claim = Total CHESS rewards of that week/total qualified qETHs. That is, if on week one, the total qualified qETH amount is 25000, each qETH would receive 2 CHESS airdrop ready to be claimed post snapshot day, and if the total qualified qETH amount is 25000 on week 4, each qETH would receive 8 CHESS tokens for that week.

Below are the dates that snapshots would be taken. Make sure to have qETH in your eligible wallet addresses on these days to receive CHESS rewards!

Week 1

Snapshot time: 2023–05–22, 14:00:00 UTC

CHESS ready to be claimed: May 23

Week 2

Snapshot time: 2023–05–29, 14:00:00 UTC

CHESS ready to be claimed: May 30

Week 3

Snapshot time: 2023–06–05, 14:00:00 UTC

CHESS ready to be claimed: June 6

Week 4

Snapshot time: 2023–06–12, 14:00:00 UTC

CHESS ready to be claimed: June 13

Program End Date: 2023–06–19, 14:00:00 UTC. Please claim your CHESS rewards before this date!

Pro tip: Navigate onto each dot above the countdown and see the exact time for each round so you won’t forget!

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FAQs

  • Where to get qETH?

Get qETH by staking ETH with Tranchess. Make sure to use the wallet addresses eligible for the event for CHESS airdrop rewards!

You can access the liquid staking page by clicking the “get more qETH” or from the front page.

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  • If I have my qETH in the wallet during the whole program from day 1, do I have to claim my CHESS rewards separately every week?

If you would receive CHESS rewards every week during the onboarding program, you can either claim separately on a weekly basis or claim all rewards together after the last snapshot day. But please claim your CHESS rewards before June 19, 2023, 14:00:00 UTC!

  • What happens to the unclaimed CHESS rewards?

Unclaimed CHESS is considered forfeited and would be transferred back to the Tranchess Treasury.

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Tranchess

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