Tranchess (CHESS)

Asset Management

Tranchess is a yield-enhancing asset tracker protocol that offers different risk-return options by splitting a single main fund tracking an underlying crypto asset (like BTC or ETH) into multiple tranches. This allows investors to choose products that fit their risk appetite.

Tranche Tokens

It uses three main tokens representing different risk levels:

• QUEEN: The main fund token that tracks the underlying asset with yield farming features.
• BISHOP: A lower-risk tranche with more stable returns.
• ROOK: A higher-risk tranche offering leveraged exposure with additional yield and protection from forced liquidation.

Governance and Staking

The CHESS token is the governance and utility token of Tranchess. Users earn CHESS by staking QUEEN, BISHOP, or ROOK tokens, and CHESS holders can participate in governance decisions.

Yield Farming and Leverage

Tranchess allows users to earn yields by staking tokens and provides leveraged exposure to crypto assets without forced liquidation, combining asset tracking with DeFi yield farming.

Multi-Chain and Expansion

The protocol plans to support more underlying assets, add synthetic derivatives, and expand across multiple blockchains to offer more diverse investment options.

For more details, visit tranchess.com.

Pros

• Tranchess offers varied risk-return solutions by splitting investments into different tokens (QUEEN, BISHOP, ROOK) that cater to different risk appetites.
• It provides yield-enhancing asset tracking, allowing users to earn extra interest and staking rewards.
• The protocol supports leveraged trading without forced liquidation.
• Users can earn governance tokens (CHESS) by staking tranche tokens, which can be used for governance and fee rebates.
• Tranchess smart contracts have undergone multiple security audits and have a bug bounty program.
• It combines popular DeFi features like yield farming, borrowing, lending, and trading in one platform.
• The system uses a price oracle designed to reduce price manipulation risks.

Cons

• The price of Tranchess tokens can be volatile and has shown recent declines compared to the broader crypto market.
• It is a relatively niche product, which may limit liquidity and adoption compared to more mainstream tokens.
• The project’s roadmap is broadly defined without detailed timelines for new features or expansions.
• Some users may find the tranche system complex to understand compared to simpler crypto investments.
• Market competition is strong with many other DeFi and asset management protocols available.

For more details, visit tranchess.com.

Founders

Tranchess was founded by Danny Chong in 2020. He is the co-founder and key figure behind the project.

Background

Danny Chong has over 16 years of experience in investment banking, having worked at major banks like Société Générale, BNP Paribas, and Crédit Agricole.

Team

The rest of the Tranchess team remains mostly anonymous but includes professionals with backgrounds in tech and finance from companies like Microsoft, Google, Facebook, Morgan Stanley, and UBS.

Investors in Tranchess

Tranchess has attracted backing from several well-known investors in the crypto and blockchain space. Key investors include:

• Three Arrows Capital: A prominent crypto investment firm known for supporting various blockchain projects.
• Spartan Group: A blockchain-focused investment and advisory firm.
• Binance Labs: The venture arm of Binance, one of the largest cryptocurrency exchanges.
• LongHash Ventures: An investment fund focusing on blockchain startups.
• IMO Ventures: A venture capital firm investing in early-stage blockchain projects.

These investors help support Tranchess’s development and growth in decentralized finance (DeFi).

Halal Status of Tranchess

• Yes, Tranchess is considered halal according to a screening on Crypto Ummah (a platform focused on Islamic finance and crypto).
• This is because Tranchess operates as a yield-enhancing asset tracker inspired by tranche funds, which can align with Islamic finance principles when structured properly.
• However, as with all cryptocurrencies, the halal status depends on the specific use and compliance with Islamic finance rules, so individual discretion and consultation with a qualified scholar is advised.

For more details, you can visit the official website: tranchess.com