Tranchess (CHESS)

Asset Management and Yield Enhancement

Tranchess is a yield-enhancing asset tracker that offers varied risk-return solutions inspired by tranche funds. It allows users to invest in a single main fund that tracks a specific underlying crypto asset like BTC, ETH, or stablecoins. The protocol splits this fund into three tranche tokens—QUEEN, BISHOP, and ROOK—each designed for different risk appetites and investment goals. QUEEN is for long-term holders tracking BTC with yield farming features, BISHOP offers more stable returns, and ROOK targets aggressive investors seeking leveraged positions without forced liquidation.

Leverage and Lending

Users can enjoy leverage on their crypto assets with no forced liquidation, and they can also earn extra interest by lending out their tokens. The protocol automatically rebalances leverage daily to maintain stability and protect investors.

Governance and Utility Token

CHESS 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 to influence the protocol’s future. CHESS can also be traded on exchanges like Binance and Pancake Swap.

Multi-Chain and Asset Expansion

Tranchess operates on multiple blockchains such as BNB Chain and Ethereum, aiming to expand its product offerings by tracking more crypto assets and introducing new fund structures. This broadens options for users with different investment preferences.

User Accessibility and Ecosystem

The platform provides a user-friendly interface and tools to simplify investment management, allowing users to monitor holdings and track performance easily. It also integrates Chainlink Automation and benefits from the BNB Chain ecosystem for secure, low-cost operations.

Pros

• Tranchess offers varied risk-return solutions through a single main fund that tracks specific underlying assets like BTC, catering to different investor risk appetites.
• It provides a unique structure with three tranche tokens (QUEEN, BISHOP, ROOK) designed for different investment strategies, from long-term holding to aggressive leveraged positions.
• The protocol includes popular DeFi features such as single-asset yield farming, borrowing, lending, and trading, making it a one-stop DeFi solution.
• CHESS token holders can participate in governance, earn a share of protocol fees, and receive staking rewards.
• The project has undergone multiple rounds of smart contract audits by CertiK and PeckShield, with a bug bounty program to enhance security.
• The team behind Tranchess has diverse experience from investment banks, asset management, and blockchain development.
• Tranchess is listed on major cryptocurrency wallets and exchanges, supporting liquidity and accessibility.

Cons

• Tranchess faces strong competition from other similar crypto projects and does not stand out significantly in technology or innovation.
• Some analyses suggest it may be better suited for short-term speculation rather than a long-term hold.
• The project’s community is considered less genuine, with many participants driven by hype and speculation.
• Price performance has shown underperformance compared to the broader crypto market and similar tokens in recent periods.
• The roadmap and future development plans are broadly defined rather than detailed, which may affect investor confidence.
• The price of Tranchess tokens can be volatile, influenced by market conditions and external factors.

Founders

Tranchess was founded by Danny Chong, who is also the co-founder.

Background of Founder

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

Team

Apart from Danny Chong, the rest of the team remains anonymous but is known to have experience in tech companies such as Google, Facebook, and Microsoft, as well as financial institutions like Morgan Stanley and UBS.

Investors in Tranchess

Tranchess has 7 investors including IMO Ventures, LongHash Ventures, The Spartan Group, Three Arrows Capital, Binance Labs, and some key opinion leaders who prefer to stay anonymous. These investors participated in funding rounds to support the project's growth and development.

Halal Status of Tranchess

Tranchess is halal. This is supported by information from Crypto Ummah, which explicitly states that CHESS (Tranchess) is halal.

Reasoning

The halal status is likely because Tranchess operates as a structured asset management and derivatives trading protocol that does not inherently involve prohibited activities such as gambling or interest (riba), aligning with Islamic finance principles when conducted transparently.