• Tranchess is a yield-enhancing asset tracker with varied risk-return solutions on Binance Smart Chain (BSC), which consists of 3 tranche tokens (QUEEN, BISHOP, and ROOK) and its governance token CHESS. The platform offers various features including a DEX (Tranchess Swap), money markets (Primary Market), staking, and network governance.

  • CHESS is the governance token of Tranchess and has the following use cases:

    • Governance: Token holders can participate in voting for the additional add-on of BISHOP tokens’ weekly interest rate.

    • Weekly rebate rewards: Token holders receive a weekly BTCB rebate reward (~50% of the fees collected within Tranchess).

    • Boost on CHESS earnings: Users can receive higher yield farming rewards by staking CHESS.

  • Tranchess consists of the following major components working in conjunction:

    • QUEEN: A BTC index tracking fund token. Users can stake BTCB as the underlying asset to receive QUEEN. The token can be split into BISHOP and ROOK.

    • BISHOP: A yield-bearing USDC token. BISHOP holders collect variable interest rates that change weekly. Every week, the protocol reads the USDC interest rate from Venus and adds a premium determined by community voting to the rate. The total becomes BISHOP's next week's fixed interest rate.

    • ROOK: A leveraged BTC token. ROOK holders borrow from the BISHOP holders to have a higher exposure on BTC. Learn more on how ROOK’s leverage rate is determined here.

  • As at October 22nd 2021, the total and maximum supply of CHESS is 300,000,000 and the current circulating supply is 30,947,242 (~10.32% of the total token supply).

  • Learn more about the token distribution here.