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What is Tranchess coin (CHESS) and how does it work?

by Financial Economy

Tranchess is a crypto asset management protocol that can yield farming, swapping, lending and staking, built on the Binance Smart Chain blockchain, known as a kind of interest earning model in DeFi. The protocol uses 3 tokens Queen, Bishop and Rook for each fund (Bitcoin, Ethereum etc.). The protocol’s governance token is also CHESS coin. Detailed information about what is Tranchess coin (CHESS), how it works, how much it costs, how to buy it, which stock exchange is available, etc. is in the continuation of the content. You can browse here for information about Aurory coin (AURY).

What is Tranchess coin (CHESS) and how does it work?

Tranchess is an asset tracker that increases returns with a variety of risk-return solutions. Tranchess provides a different risk/return matrix than a single main fund that tracks a specific underlying asset. The name Tranchess is inspired by the game of chess and the French word “Tranche”, which is often associated with tranche funds that appeal to different classes of investors with different risk appetites. Tranchess was released on June 24, 2021.

According to the statements made, the Tranchess platform offers its users the following opportunities:

  • Improved yield returns without permanent losses
  • Leveraged positions at low cost and without forced liquidation
  • Zero Lockout Time for QUEEN holders
  • Preventing Oracle Attacks using TWAP (Time Weighted Average Price)

The project makes use of smart contracts that make processes transparent and automated. The protocol allows users to earn more while tracking BTC, earning extra interest by lending their tokens or leveraging leverage without forced liquidation. Users also receive a share of platform earnings as part of their stake returns. The Tranchess ecosystem benefits from both the NAV and yield perspectives.

Chess Coin is Tranchess’ governance token. Chess holders can participate in the governance system to vote on the BISHOP tranche’s APR or other platform changes.

How to buy Tranchess coin and on which exchange?

Tranchess coin is listed on many cryptocurrency exchanges and can be purchased from these exchanges. But before trading, it is necessary to make sure that the exchange is “reliable”.

So which exchange is CHESS coin on? CHESS token is listed on many cryptocurrency exchanges such as Binance, HitBTC, Gate.io, ZT, etc.

Caution: The information contained in this content is for informational purposes only. It is not investment advice.

For information about cryptocurrency: https://en.wikipedia.org/wiki/Cryptocurrency

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