What is Tranchess (CHESS)?
Tranchess is a platform designed to provide different risk-return strategies through a single fund that tracks the performance of an underlying asset like Bitcoin. The protocol is structured around three tranche tokens: QUEEN, BISHOP, and ROOK. Each tranche represents a different investment strategy. QUEEN aims to mirror the performance of Bitcoin with added yield features. BISHOP focuses on stable yield generation. ROOK offers leveraged exposure to the tracked asset.
The platform operates using smart contracts, which automate key functions and ensure transparency. Tranchess allows users to engage in yield farming, lending, and leveraged trading without forced liquidation. A unique trading feature within the protocol is the Premium-Discount Orderbook system, which facilitates trades based on a forward-starting 30-minute Time Weighted Average Price (TWAP) rather than real-time market prices.
CHESS is the native token of the Tranchess protocol, a blockchain-based asset management platform launched in 2020. CHESS is used as the governance token within the protocol. Holders of CHESS can vote on key decisions related to protocol updates and management.
The project was co-founded by Danny Chong and a team with backgrounds in both technology and finance, including experience at companies such as Google, Facebook, Microsoft, Morgan Stanley, UBS, and BNP Paribas.
As of now, the circulating supply of CHESS is approximately 206 million tokens, with a total supply capped at 300 million.
CHESS token is listed on Binance for trade and purchase. The current price of CHESS is available and updated in real-time on Binance.