What is Tranchess (CHESS)? How to buy CHESS

What is Tranches?

Tranchess is an asset tracking and management platform with various risk/return solutions. The Tranchess model was first conceived in early 2020, inspired by the ability of tranche funds to meet different risk needs of users. Tranchess has developed a network that aims to provide a risk/reward matrix from a single master fund, helping users to manage specific assets. Tranchess’ goal is to allow DeFi users to flexibly allocate assets and hold assets for the long term. Going forward, Tranchess plans to develop new services and open to new chains.

Key features of Tranchess

Tranchess is a platform that can create many different funds, each of which manages a separate set of digital assets. The first fund released was Tranchess 1.0, used to manage BTCB/USDC prices.

On the Tranchess platform, there are 3 tokens corresponding to traders’ desired profit, which are QUEEN, BISHOP, ROOK. In which, 1 QUEEN can be split into 50% BISHOP and 50% ROOK.

Token QUEEN

QUEEN is the main tranche (fund) token used to track BTCB index. QUEEN’s Net Asset Value (NAV) will track the BTC price on a fully correlated basis.

Instead of holding BTC, users can redeem BTC for QUEEN tokens. In doing so, users will be able to farm CHESS tokens to enhance their yield. Holding CHESS is also a way to reduce fees charged on Tranchess.

Token BISHOP

Token BISHOP is a product that generates profit in USDC. BISHOP holders can profit with weekly variable interest rates updated on Venus. Tranchess uses Venus’ lending rates from the previous week and 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.

Token ROOK

ROOK is a leveraged product without forced liquidation. ROOK holders can create a loan from BISHOP holders in order to buy the main fund that tracks BTC. ROOK holders will receive all profits and losses of the main fund.

Profit of ROOK token = Profit and loss of main fund – Profit paid to BISHOP token.

Summary:

• QUEEN: medium risk, medium return, suitable for long term holders.
• BISHOP: low risk, low profit, suitable for those who like stable interest rates.
• ROOK: high risk, high return, for suitable those who like to play leveraged assets.

Token CHESS

CHESS is Tranchess’ governance token. Users can earn CHESS by staking QUEEN or buying on exchanges.

Purpose of using CHESS

• Governance: CHESS is locked to get veCHESS to participate in governance. Voting power will increase or decrease according to the duration of CHESS lock commitment.
• 50% of Fee Refund: CHESS holders will be refunded 50% of fees collected on Tranchess platform.

Specifications

• Ticker: CHESS
• Blockchain: Binance Smart Chain
• Token Standard: BEP-20
• Total supply: 300,000,000 CHESS
• Circulating Supply: 31,477.219.78 CHESS

CHESS token Price today

How to buy CHESS

Tranchess (CHESS) has been listed on Attlas Exchange.

Traders can easily and securely buy CHESS with lowest fees on Attlas Exchange.

Step 1: Download the app and register an account

Step 2: Select Market on the toolbar at the main screen

Step 3: Select Spot

Step 4: Find CHESS

Step 5: Select Buy

Summary

This article is an overview of Tranchess (CHESS), not a financial advise.

Users are advised to do their own research before making any trading decisions.