Currently, chess has introduced the turbo&stable project platform. By obtaining VeChess and participating in governance, you can obtain multiple benefits such as chess rewards, income distribution, and point returns. There is still a lot of room for chess appreciation.
What are the current uses of Chess tokens? CHESS tokens have three main uses, all of which require veChess:
🔸Weekly vote on Alpha split between BISHOP and ROOK holders.
🔸Get 50% of the fees collected in Tranchess every week (excluding gas fees)
🔸Increase CHESS returns through staking.
🔸Turbo & Stable points distribution after the fund expires: SolvVBTC has expired, but SolvBTC.BBN has been launched simultaneously, and you can continue to get Solv points. The babylon ecosystem is still very popular, and SolvBTC.BBN is the LRT with the highest points income in the babylon ecosystem)
How to get veChess?
🔸 Locking: CHESS can be locked for up to 4 years. The amount of veChess received depends on how long you lock CHESS. The minimum lock time is 1 week, and for each CHESS locked, veChess increases linearly from 0 to 1 as the lock time increases from 0 to 4 years. 1 CHESS locked for 1 year can get 0.25 veChess, 2 years = 0.5 veChess, and so on. $chess can be purchased on Binance
🔸Voting: Weekly governance voting will determine the distribution of the chess release ratio for the next week. Different pools will receive different proportions of CHESS.
🔸LP pool: SolvBTC and STONE’s LP pools currently have additional CHESS incentives for LPs every week
Note: The APY during the lock-up period is calculated based on the rebate pool and average lock-up duration in the last 7 days.
Applications of veChess
🔸 Participate in the governance of turbo & stable projects: The project team proposes to introduce community voting in all future Turbo & Stable project launches.
🔸Points distribution: The rapid replication of the Turbo & Stable project model ensures the stability of veCHESS users' points income. 50% of the platform's weekly revenue is distributed to all veCHESS users. 100% of the 3% points income of the four funds of Turbo & Stable is returned to veCHESS holders. It also supports cross-chain support for BNB Chain, Ethereum and Scroll
🔸Basic governance: For example, participating in the distribution voting of chess release ratio. Currently, the forum contains four different categories: announcements, proposals, general discussions and technical support.
Proposal: The main category of the Tranchess forum, where proposals for new features, products, and technical updates for Tranchess are posted. Proposals will explain the idea and be subject to snapshot voting.
Announcements: This is where the Tranchess development team publishes project announcements and updates. These announcements are usually also published through other official Tranchess channels.
General Discussion: As the name suggests, this is a category open to all topics
Technical Support: Here you can ask questions and find answers to any technical difficulties and confusions you may encounter while using Tranches.
