[Among the several perpetual contracts that Binance has launched recently, what opportunities does the DeFi leader $CHESS on Scroll leave for us? 】

Tranchess is an old project. After the Binance Futures announcement, $CHESS rose by 50% on the same day. This is not the highest increase in the perpetual stage on Binance, so let's take a look at what opportunities there will be, such as:

🔸Airdrop income (super high points)

🔸 Can the token return to its all-time high?

✅ Let’s not talk about anything else, let’s talk about whether we can make money first

Fans pay attention to crypto dongles generally to read information about making money. If a lot of space is devoted to technology, wouldn’t that be exploiting the readers’ feelings? So first, let’s see if we can make money on Tranchess and how to make money?

1. First, let’s understand what CHESS is. What can you get by holding $CHESS?

$CHESS is the governance token of the multi-chain yield protocol Tranchess. Similar to Pendle, Tranchess allows interest-bearing tokens to be split into yield tokens and principal tokens.

🔸 Holder can stake tokens on the official website to generate veCHESS. Users holding veCHESS can obtain the following rights and benefits:

🔹veCHESS holders can participate in weekly voting for all new turbo & stable (what this is will be explained below); veCHESS voting;

🔹Old funds will expire one after another, and veCHESS users will receive the handling fee income of these funds in proportion;

🔹As a governance token, 50% of the platform’s weekly revenue will be distributed to all veCHESS users;

🔹3% of the points income of the four funds Turbo & stable will be 100% returned to veCHESS holders. Turbo & stable funds currently have five projects including Stone, Ether .fi, Solv, ListaDao, and Lido. In other words, holding veCHESS can earn points from these four projects.

🩸The most attractive ones to me are the points of Stone, Ether.fi, Solv, and ListaDao. To get these four airdrops, we need to stake ETH/BTC/BNB. If we participate in each project, we need to stake assets on four platforms separately, which will disperse the funds too much.

But if we adopt the method of focusing on big things, we only need to convert all 4 parts of funds into , put them on the Transess platform for staking (for example, one month) and exchange them for veCHESS. I will have at least 3 obvious benefits:

🕐 DeFi income from veCHESS;

🕑You can also get points or token rewards from the five project pools of Stone, Ether .fi, Solv, ListaDao, and Lido every week (weekly pool rewards are generated by veCHESS voting);

🕒You can also get a distribution of 50% of the platform's weekly income.

2. Multiple Project Airdrops (Killing Two Birds with One Fish)

If you have already staked in Stone, Ether .fi, Solv, ListaDao, and Lido, you don’t need to withdraw your funds, and you can still kill two birds with one stone.

Take STONE on Scroll as an example, a six-month fund launched by Transess and StakeStone (ending October 8).

Users holding STONE can participate in four revenue pools on Tranchess: stoneQUEEN, turPSTONE, staYSTONE, and staYSTONE-STONE LP.

Among them, STONE creates stoneQUEEN at a ratio of 1:1 and gets 1 times the points;

🔹If split, stoneQUEEN can be split into 0.1 turPSTONE and 0.9 staYSTONE to get 2 times the points.

🔹turPSTONE is equivalent to Turbo tokens, with 10x inherent leverage and 2x points bonus for StakeStone extra rewards, so holders can get 20x StakeStone points

🔹staYSTONE is a Stable token with fixed income. Holders can obtain a fixed annual interest of 6% without any points.

🔹StaySTONE-STONE LP holders can obtain a basket of benefits, including CHESS rewards, 0.05% handling fee rate, interest and points (2 times). Holders can add or remove liquidity in single or dual currencies at any time.

There are currently 5 projects on Tranchess for users to participate in. I will not list them all here. You can refer to the following comparison table:

✅ Now that we have talked about making money, let’s talk about the project

Tranchess is a multi-chain yield platform with a hierarchical structure fund similar to Pendle, which allows interest-bearing tokens to be split into yield tokens and principal tokens.

A tiered fund is a type of financial derivative instrument, which is characterized by dividing fund products and risks into different levels. Generally, Class A sub-funds mainly obtain fixed income, while Class B sub-funds mainly obtain residual income.

Tranchess concretizes the abstract concept of tiered funds, using the expression of chess, comparing tokens to the Queen, Bishop, and Rook of chess:

🔹Queen is the main currency. The stoneQUEEN, weethQUEEN, slovbtcQUEEN and slisbnbQUEEN minted at a 1:1 ratio mentioned above are this one. So you can see that as a parent fund, Queen is mainly created for BTCB, ETH (annual management fee 1%) or BNB (annual management fee 2%) funds, which can provide long-term holders with additional returns of 2% to 16%.

🔹Bishop and Rook are two sub-fund products with different risk and return split from QUEEN. Each QUEEN can get 0.5 BISHOP and 0.5 ROOK;

🔹In the above table, we don’t see the minted Bishop and Rook tokens. This is because Tranchess is a DeFi project and has its own way of expression:

🔅The Stable mentioned above is an enhanced version of Bishop. staYSTONE, staYWEETH, staYSBTC, and staYLBNB are assets in this regard, which are split from stoneQUEEN, weethQUEEN, slovbtcQUEEN, and slisbnbQUEEN. As a stable income asset, Stable does not generate point rewards, but directly gives users the corresponding annualized income.

🔅The Turbo mentioned above is an enhanced version of Rook. turPSTONE, turPWEETH, turPSBTC, and turPLBNB are assets in this area, which are also split from stoneQUEEN, weethQUEEN, slovbtcQUEEN, and slisbnbQUEEN. The minted Turbo assets are aggressive assets that do not provide fixed returns. They use leverage to provide users with point rewards.

🩸All points income will be fully returned to veCHESS users on the corresponding chain in accordance with the expiration of each project and the rhythm of TGE, further increasing the rate of return of veCHESS holders.

Split assets can be merged, and the merging platform will charge a handling fee; the relationship between Queen, Bishop, Rook, Stable, and Turbo is as follows:

✅ Can CHESS coin reach a new historical high?

The CHESS coin was listed in July 2021 with a listing price of around US$0.4. It reached an all-time high (ATH) of $7.92 in October 21 and then began to fall.

As of September 6, the transaction price of CHESS was $0.1452, up 46% in the past month, reaching a high of $0.2241. The price increase was affected by Binance's listing of CHESS/USDT perpetual contracts on August 30.

CHESS's current market capitalization is $43,621,816, ranking 680th among all cryptocurrencies, with a circulation rate of 57.47%.

The current price is still more than 97% away from its all-time high, which is currently a low point for investors who are bullish on Transess in the long term.