In the last issue, we introduced two ways to play Tranchess ( Tranchess ). As the second largest DEFI protocol in#Scroll(#Scrollexpects TGE in Q4), it has a strategy of killing two birds with one stone in the face of the current hot#BTCFiecosystem! As an old project, it has successfully landed on the Binance exchange. What is its valuation? What is its charm? Let's focus on it today!

CHESS Investment Institutions:

Tranchess completed financing in early 2021, with a strong lineup of investment institutions, including well-known institutions such as Binance Labs, Three Arrows Capital, The Spartan Groups, Longhash Ventures and IMO Ventures.#CHESSsuccessfully landed on Binance in October 2021.

CHESS Team Strength:

Tranchess founder Danny Chong has more than 16 years of banking experience. He was responsible for the SEA department of foreign exchange and fixed-rate product sales at Credit Agricole CIB. Other team members come from Microsoft, Google, Morgan Stanley, UBS and other institutions, and have rich experience in financial and technical development.

CHESS valuation level:

Currently, TVL is 207 million US dollars, and it has increased by 4 times in the past year. It ranks fifth in the entire Yield track, but the MC market value is only 29 million US dollars, the FDV is only 51 million US dollars, and the MC/TVL is 0.14, which is lower than the competitor #Pendle's 0.18. This ratio is also the existence of low valuation in the Yield track, especially the outbreak of #BTCFi. The cooperation between the project and SolvProtocol and babylonlabs_io

will bring greater potential growth in the future, which is worth paying attention to!

Summary: Transess has an outstanding investment background, an excellent team and rich experience in the industry. In addition, the project is unique in the field of graded funds, with a complete history of bull and bear crossings. It has maintained strong data growth after experiencing a bear market, which is commendable. The current valuation is still in the stage of value discovery. Not long ago, Binance opened a leveraged contract, which directly increased the bottom volume. The current odds are high, which is worth looking forward to!