Tranchess - Quick Facts

Tranchess
2 min readNov 3, 2021

What is Tranchess?
Tranchess is a yield-enhancing asset tracker protocol with varied risk-return solutions.
The concept of Tranchess was first incepted in early 2020 and was developed quickly into its current state. Inspired by tranche funds’ ability to satisfy users’ varying risk appetites, Tranchess aims to provide a different risk/return matrix out of a single main fund that tracks specific underlying assets.

Our Investors
Three Arrows Capital, Spartan Group, Binance Labs, Long Hash Ventures, IMO Ventures

What is Token QUEEN, BISHOP and ROOK?
QUEEN Token is converted from the underlying asset in Tranchess Primary Market and tracks the NAV of the underlying asset. QUEEN can be split into 0.5 BISHOP and 0.5 ROOK. BISHOP earns an enhanced yield and does not track the underlying asset, while ROOK is a leveraged token for the underlying.

Token QUEEN, BISHOP and ROOK can also be traded with USDC from Tranchess Swap*, our on-chain trading system that adopts a TWAP mechanism. Currently there are zero charges for transactions done on Tranchess Swap.

Current Stats
Underlying Assets: BTC and ETH
TVL: 1.55 Billion in BTC Fund; ETH Fund to be launched on Nov. 3, 2021
Total Locked CHESS: 48.70% of all circulating CHESS supply
Market Cap: $145 Million*
*More Info available on CoinGecko and CoinMarketCap.

Next Steps
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Increasing underlying assets
- To go multi-chain
- More synthetic derivatives and fund structures.
- More CHESS use cases
- Fast-expanding global team

The Team
Tranchess Team is a group of blockchain and financial experts with diverse backgrounds and experiences across the globe. Most of the Tranchess team members are from investment banks, asset management firms and hedge funds, while our tech team is particularly experienced with cyber security in centralized crypto exchanges and DeFi protocols.
Co-founder’s twitter: Danny Chong

Launch Date
Tranchess Protocol was initially launched on June 22, 2021.

Operation Chain
Tranchess currently runs on Binance Smart Chain (BSC).

Collaborations
Audit: PeckShield, Certik
Bug Bounty: Immunefi
Insurance: InsurAce

CHESS

What is CHESS
CHESS is the governance token of Tranchess protocol.

How to get CHESS
CHESS can be harvested by staking Token QUEEN, BISHOP and ROOK in the protocol. CHESS can also be bought on Pancake Swap and Binance Exchange.

What is veChess
veChess is obtained by locking CHESS in the protocol.

Utilities of veChess
-
Voting power for the additional add-on of BISHOP’s next-week interest rate;
- Receive rebates of protocol fees;
- Receive a boost on CHESS earning through staking;

Information
Community: Discord, Telegram (English and Chinese), Twitter
Technical Development: GitHub
Detailed Explanation: Tranchess Documentation
Publication: Medium, Youtube

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Tranchess

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