Tranchess Research Hub | CHESS information, history and analysis

Tranchess is a yield enhancing asset tracker protocol with varied risk-return solutions. 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 a specific underlying asset (e.g. BTC). Tranchess’s vision is to empower users of DeFi with asset allocation flexibilities. Tranchess’s goal is to provide a long-term solution for long-term holders of crypto assets. Tranchess consists of the following major components working in conjunction:

• QUEEN:  Tranchess has two main funds, the BTCB fund and the ETH fund. Rather than holding BTCB or ETH passively, investors can now swap their assets for token QUEEN via a ‘creation process’ or buy from the “Swap” with USDC. In doing so, they will have the same underlying asset exposure and, alongside the ability to farm CHESS tokens for further yield enhancement.
• BISHOP: Token BISHOP holders collect interest at a specific interest rate that changes every week. Every week, the protocol reads the USDC interest rate from Venus and adds a premium determined by community voting to the rate. The total becomes BISHOP’s next week’s fixed interest rate.
• ROOK: A leveraged product with no forced liquidation. Token ROOK holder borrows daily from Token BISHOP holder to buy the main fund that tracks the underlying assets.

CHESS is a native token of the Tranchess ecosystem, operating on BNB Chain according to BEP20 standard, and can be used to: 

• To vote for the additional add-on of BISHOP’s next-week interest rate.
• To receive a weekly BTCB rebate, which totals 50% of the fees collected (gas fee excluded) within Tranchess. 
• To receive a boost on CHESS earning through staking.