Tranchess is a tokenized asset management and derivatives trading protocol. Tranchess provides a different risk/return matrix out of a single main fund that tracks a specific underlying asset. The name Tranchess was inspired by the game of chess, as well as the French word “Tranche”, which is often associated with tranche funds that caters to different class of investors with varying risk appetite. Tranchess was launched on 24th June 2021. The main fund, aka token $QUEEN, tracks a specific underlying asset and can be split equally into 2 sub funds. We have purposefully chosen BTC as the first crypto asset to track. Meanwhile, it also shares many of the popular DeFi features such as: single-asset yield farming, borrowing & lending, trading, etc.
$QUEEN: $QUEEN is created by depositing BTCB, ETH or BNB via the Primary Market of Tranchess. $QUEEN is designed for long-term HODLERS of the underlying crypto assets and provides an additional yield that ranges between 2% to 16%, depending on the fund.
$BISHOP: $BISHOP is created by splitting $QUEEN in the Primary Market of Tranchess. Every $QUEEN token can be split evenly into 0.5 $BISHOP and 0.5 $ROOK. $BISHOP is designed for investors who want to receive higher yields on their stable coins. $BISHOP currently provides an APY between 7% to 22%, depending on the fund.
$ROOK: $ROOK is created by splitting $QUEEN in the Primary Market of Tranchess. Every $QUEEN token can be split evenly into 0.5 $BISHOP and 0.5 $ROOK. $ROOK is designed for aggressive investors who want to take a leveraged position on a certain crypto asset. $ROOK protects investors from forced liquidation and earns an additional yield between 1.5% to 10% on top of the 1.7~2.2 times leveraged position.
$CHESS: After users stake their $QUEEN, $BISHOP or $ROOK tokens on Tranchess, they start farming $CHESS, the governance and utility token of Tranchess. Users can also obtain $CHESS on Binance or Pancake Swap.