Tranchess

Tranchess is a yield-enhancing asset tracker protocol offering varied risk-return solutions, inspired by tranche funds. It caters to users with different risk appetites by providing a unique risk/return matrix from a single main fund tracking a specific underlying asset (e.g., BTC, ETH, BNB) or a basket of crypto assets. The protocol features four distinct tokens: QUEEN, BISHOP, ROOK, and CHESS, each serving different investor needs within its ecosystem.

• Token Type:

• CHESS is the governance and utility token of the Tranchess protocol, which is built on the Binance Smart Chain (BSC) but follows the ERC-20 standard.

• Total Supply:

• The maximum supply of CHESS tokens is capped at 300,000,000 CHESS.

• Circulating Supply:

• As of the latest data, the circulating supply is approximately 161.73 million CHESS tokens.

• Token Distribution:

• Community Incentives:

• 50% of the total supply is allocated for liquidity mining and other community incentives.

• Core Team:

• 20% of the total supply is reserved for the core team with a vesting schedule.

• Future Investors:

• 15% of the total supply is set aside for future investors in subsequent funding rounds.

• Ecosystem Treasury:

• 10% of the total supply is reserved for the ecosystem/treasury, including partnerships, third-party services, and listing fees.

• Seed Investors:

• 5% of the total supply is allocated to seed investors with a vesting schedule.

• Utility and Governance:

• CHESS tokens are used within the Tranchess ecosystem for governance voting, fee rebates, and farming by staking QUEEN, BISHOP, or ROOK tokens. Locking CHESS creates veCHESS, which enables users to participate in weekly rebate and governance votings.

• Release Schedule:

• CHESS tokens will be released over a 4-year period with a decaying schedule, ensuring a gradual distribution into the market.

As of today #{today’s date}, the price of Tranchess is ₹14.80 INR or 0.1691 USD, with a 24-hour trading volume of 5076513.92 USD. The market capitalisation for Tranchess is 32705686.61USD. The circulating supply is 193577385 Tranchess, with the total supply also being 300000000 Tranchess.

Pros:

• Offers varied risk-return solutions catering to different investor profiles.

• Provides additional yield opportunities through its unique token structure.

• Governance token (CHESS) allows for community-driven decisions.

• Accessible on major exchanges and supports staking for yield farming.

• Continuous protocol expansion and product offerings.

Cons:

• The complexity of the token system may deter new users.

• Dependent on the performance of underlying assets.

• Market volatility affects yield rates.

• Governance participation requires holding CHESS, potentially limiting wider community engagement.

• Risk of regulatory changes impacting DeFi protocols.

• An innovative approach to asset management in DeFi, offering tailored risk-return profiles.

• Potential for high yields through strategic token staking and farming.

• Active community and governance model ensure protocol evolution and responsiveness.

• Expansion plans include exploring new chains and crypto assets, promising growth.

• Strong liquidity mining incentives for long-term value appreciation.

• A unique tranche-based system providing customizable investment strategies.

• The multi-token ecosystem (QUEEN, BISHOP, ROOK, CHESS) caters to diverse investor needs.

• Governance and utility token (CHESS) enables participation in protocol decisions and yield enhancement.

Tranchess addresses the lack of customizable risk-return profiles in traditional and crypto asset management, offering investors tailored solutions to match their risk appetite while enhancing yields.

Tranchess Protocol was co-founded by Danny Chong and others (not specifically mentioned).

• Token Sale Duration:

• Til 1st October

• Ticker:

• CHESS

• Token Type:

• ERC20

• ICO Token Price:

• 1 CHESS = 1 USD

• Total Tokens:

• 300,000,000 CHESS tokens

• Fundraising Results:

• Raised $1.5 million in July 2021

• Market volatility can significantly impact investment returns.

• The complexity of the protocol may hinder widespread adoption.

• Dependence on the performance of underlying assets introduces additional risk.

• Regulatory uncertainties surrounding DeFi could affect operations.

• Limited information on the founding team may concern potential investors.

The Tranchess whitepaper outlines the innovative DeFi protocol designed to cater to investors with varying risk appetites through a unique, tokenized structured fund system. Inspired by traditional finance’s tranche funds, Tranchess introduces a multi-token ecosystem comprising QUEEN, BISHOP, ROOK, and CHESS tokens, each serving distinct functions within the protocol to accommodate different investment strategies and risk-return profiles.

Core Components and Functions:

• QUEEN Token:

• Represents the main fund or tranche, designed for long-term holders of the underlying crypto assets (BTCB, ETH, BNB). Investors can swap their assets for QUEEN tokens, maintaining exposure to the underlying asset while also farming CHESS tokens for additional yield enhancement.

• BISHOP Token:

• Aimed at investors seeking higher yields on stable coins, BISHOP tokens are created by splitting QUEEN tokens. BISHOP holders receive interest at a variable rate, determined weekly based on governance voting and external interest rates from platforms like Venus.

• ROOK Token:

• Tailored for aggressive investors desiring leveraged positions on crypto assets without the risk of forced liquidation. ROOK is also derived from splitting QUEEN tokens, offering leveraged exposure to the underlying asset’s performance minus the interest paid to BISHOP holders.

• CHESS Token:

• Serves as the governance and utility token within the Tranchess ecosystem. CHESS is farmed by staking QUEEN, BISHOP, or ROOK tokens and can be traded on exchanges like Binance and Pancake Swap. Holding CHESS and converting it to veCHESS enables participation in governance decisions and weekly rebates.

Innovations and Enhancements:

Tranchess protocol introduces several innovative features to enhance user experience and investment flexibility. These include instant swap AMM pools for immediate swapping between BISHOP, ROOK, and BUSD, instant creation and redemption of QUEEN tokens, and expanded weekly rebate pools. The protocol’s design allows for the creation of multiple funds, each tracking a different set of crypto assets, with separate QUEEN, BISHOP, and ROOK tokens for each fund.