What is Tranchess (CHESS)? Details from A to Z project Tranchess (CHESS) and CHESS Coin
Many people want to invest but are not confident with their capital management ability, from which Asset Management projects were born. In this article, Hay Mod Game will learn with you about a project in this field, Tranchess (CHESS).
Introduction to the Tranchess project (CHESS)
Tranchess (CHESS) is a project in the Asset Management array on the BNB Chain platform . Compared to previous platforms such as dHEDGE, Tranchess uses a tokenization mechanism through 3 different token forms, corresponding to investment needs at different levels of risk and return.
Tranchess' ideas were first conceived in early 2020 and quickly developed into the current project. The project's inspiration comes from tranchess fund's ability to meet different risk needs of users. The project's vision is to empower DeFi users with asset allocation flexibility, becoming a lasting solution for long-term holders of crypto assets. Tranchess will continuously expand the platform's protocols to provide more services to users.
Floating points in the operation mechanism of Tranchess . project
As mentioned above, Tranchess uses a mechanism to tokenize assets into corresponding tokens. In addition to the project's governance token CHESS (which will be mentioned in the next section), Tranchess also has 3 more tokens to meet the different investment needs of users, specifically:
QUEEN – long-term holder
Considered as the main fund, is a BTC price tracking token with Yield Farming feature. Users can exchange an exact amount of BTC with a corresponding amount of QUEEN, in addition to farming out CHESS tokens. Users can exchange BTC with QUEEN at any time, but there will be time to register and wait, until a new time of day is the time to execute all orders to exchange BTC - QUEEN (called Redeem) /Create QUEEN).
BISHOP – Stable interest rate
Both BISHOP and ROOK are 2 sub-funds, separated from QUEEN according to the structure: 1 QUEEN can split 50% BISHOP and 50% ROOK.
BISHOP holders provide liquidity to Tranche ROOK holders and earn a steady daily income, with APR (yearly rate of return) being a predetermined number, protecting profits from the market. market and price changes of BTC.
Each week, the protocol uses Venus' lending rates from the previous week and calculates a weekly average, then adds a premium determined by community voting. The sum of these two values will be the next week's APR of BISHOP. Users holding BISHOP do not need to lock tokens to enjoy the above interest.
ROOK – Leveraged Asset
ROOK is a leveraged product that is not liquidated like borrowing or margin. ROOK Token holders will borrow daily from BISHOP Token holders to buy BTC tracking main fund. ROOK Token holders receive all profits and losses of the main fund, one can visualize the profit by the formula:
ROOK profit = Main fund profit and loss – Profit paid to BISHOP
ROOK realizes leveraged portfolio by borrowing equity from Tranche BISHOP.
Basically, the returns of these tokens still follow the familiar "High Risk, High Reward" rule, in which ROOK can earn the most profit.
Features of Tranchess
Tranchess has basic features including: Swap, Primary Market, Staking , Governance. User can swap QUEEN, ROOK, BISHOP from USDC in Swap feature. The Primary Market function allows users to create QUEEN tokens from BTCB and swap QUEEN tokens into ROOK and BISHOP tokens according to investment needs.
In addition, users can Staking tokens to earn more income or use CHESS governance tokens to contribute to project decisions.
Tranchess . project token information
CHESS is the project's governance token in addition to the investment tokens mentioned above.
CHESS Basics:
- Name: CHESS Token
- Ticker: CHESS
- Blockchain: BNB Chain
- Contract: 0x20de22029ab63cf9a7cf5feb2b737ca1ee4c82a6
- Token Type: Utility, Governance
- Maximum total supply: 300,000,000 CHESS
- Supply of circulation: 65,379,450 CHESS
CHESS Allocation (CHESS Allocation)
- Community Incentives: 50%
- Core Team: 20%
- Future Investors: 15%
- Ecosystem/Treasury: 10%
- Seed Investors: 5%
CHESS release and unlock plan
CHESS tokens will be issued in 4 years with a decreasing schedule. There will be a total of 300 million CHESS tokens.
Roadmap of Tranchess . project
Currently Tranchess has not announced a specific Roadmap, but the job list has been updated, specifically as shown below.
Tranchess project development team
Details of project members are not publicly available. According to the introduction on the homepage, the members of the Tranchess project are a group of financial and blockchain professionals with diverse backgrounds and experiences across the globe, covering multiple time zones. Most of the Tranchess team members come from investment banks, asset managers and hedge funds, while our tech team is particularly experienced in cyber security in money exchanges. centralized electronics and DeFi protocol. We believe this synergy from this diversity is what allows us to present to you today, a new layer of DeFI – the Tranchess Protocol.
Above is information about Tranchess project synthesized by Hay Mod Game , hope they will help your investment research process. Check out other articles on the site.