Tranchess CHESS
About
Who Are the Founders of Tranchess Protocol?
Tranchess Protocol is the brainchild of Co-Founder Danny Chong and Team. The concept was incepted in 2020 with a team across diverse experiences and roles in tech firms such as Google, Facebook, Microsoft to Investment Banks such as Morgan Stanley, UBS and BNP Paribas.
Our tech team is particularly experienced with cyber security in trading and DeFi protocols, their knowledge in smart contract coding is additive to the maintenance and upgrades in years to come.
Danny himself had worked at both BNP Paribas and Societe Generale, holding positions across his career from trading, sales and management regionally in FICC space.
It is the team’s vision to empower users of DeFi with Omni Asset Management capabilities and contributing to the paradigm shift from Traditional Finance to DeFi. And in time, to offer a full product suite in Asset Management Protocols, tailored for DeFi users across risk capacities and appetites.
What makes Tranchess Unique?
The project leverages on smart contracts that makes it transparent and automated across processes. The protocol allows users to have enhanced earning while tracking BTC, earns extra interests by lending out their tokens, or enjoying leverage with no forced liquidation. Users also get a share of platform earnings as part of their staking returns. Tranchess ecosystem allows gain from both NAV and yield perspectives.
How is Tranchess Protocol Secured?
Our smart contracts do not rely on price feeds from other smart contracts and thus are highly resistant to price manipulation such as flash loan attacks. Tranchess price oracle uses 30-minute TWAP instead of discrete oracle price. This minimizes the possibility of oracle manipulation attack. Tranchess oracle extends the Open Oracle standard by Compound, accepts signed price data from two separate sources (Coinbase and OKEX) and computes time-weighted average price (TWAP) in every 30-minute epoch.
Other security measures includes: Multiple rounds of code audit by reputable teams (Peckshield & Certik), Bug Bounty (Immunefi) and Multi-signature settings.
Where Can I Buy Tranchess Protocol (CHESS)?
CHESS is available for trading on Pancakeswap from 8 July 2021.
It would be available on other exchanges later.
More Info
How many CHESS Tokens are in circulation?
Chess Tokens has a max supply of 300 million with following allocation:
5% seed investors, 20% core team, 15% reserved for future investors, 50% liquidity mining, 10% Treasury.
300,000 from Treasury are released through Pancakeswap’s liquidity pool.
CHESS emission as below:
For Week 1-4, 300,000 on the first week, and each new week thereafter adds 300,000 new tokens additionally on top of previous week’s distribution.
Week 5 distributes 2,400,000 tokens.
For Week 6-20, starts from 2,304,000 and decreases by 4% each week onwards.
Remaining distribution to be decided later.
AI Analysis
What is the Tranchess (CHESS) cryptocurrency good for? What are its main use cases?
Tranchess (CHESS) is a cryptocurrency associated with a decentralized finance (DeFi) protocol that is primarily built on the Binance Smart Chain (BSC). It provides various functionalities and features that cater to investors and traders in the DeFi ecosystem. Here are some of the main use cases and benefits of Tranchess (CHESS):
Asset Management: Tranchess offers an innovative structure that allows users to manage their risks and returns through different risk-adjusted tranches. Investors can choose between different tranches that represent varying degrees of risk and reward, allowing them to align their investments with their risk tolerance.
Yield Farming: Users of Tranchess can participate in yield farming by staking their CHESS tokens or other assets. This allows them to earn rewards in the form of additional tokens, which can enhance their returns over time.
Liquidity Provision: The platform may allow users to provide liquidity to various trading pairs, earning fees and potential rewards in the process. This is a common practice in DeFi to support trading activities on decentralized exchanges.
Decentralized Trading: Tranchess may offer features that facilitate trading of crypto assets in a decentralized manner, allowing users to trade without the need for centralized exchanges, thereby reducing counterparty risk.
Governance: Holders of CHESS tokens may have governance rights within the Tranchess ecosystem, allowing them to participate in decision-making processes related to protocol upgrades, fee structures, and other critical aspects of the protocol.
Integration with Other DeFi Protocols: Tranchess may integrate with other DeFi applications and services, providing enhanced utility for its token and allowing users to leverage additional financial products.
Overall, Tranchess (CHESS) aims to provide unique financial products and services in the DeFi landscape, giving users greater control over their investments while maximizing opportunities for returns through various mechanisms. As with any cryptocurrency and DeFi project, it is essential for users to conduct their own research and understand the risks involved before participating.
What blockchain does Tranchess use? Is it its own blockchain or built on top of another?
Tranchess is built on the Binance Smart Chain (BSC). It is not its own blockchain but operates as a decentralized finance (DeFi) protocol on BSC, leveraging the capabilities of that blockchain for its functionalities.
Is Tranchess programmable? Does it support smart contracts or decentralized applications?
As of my last update in October 2023, Tranchess is a blockchain-based financial platform that focuses on yield optimization and asset management. It primarily operates on the Binance Smart Chain (BSC) and is designed for DeFi (Decentralized Finance) purposes.
Tranchess itself does not function as a platform for directly deploying smart contracts or decentralized applications (dApps) like Ethereum. However, you can interact with it through its existing smart contracts, which provide various DeFi functionalities such as yield farming, staking, and asset management.
If you're looking to develop smart contracts or DApps, platforms like Ethereum, Binance Smart Chain, and others might provide more extensive capabilities for that purpose. It's essential to check the most current information and documentation directly from Tranchess for any updates or changes regarding its programmability and features.
How fast are Tranchess transactions? What is the typical confirmation time and throughput (transactions per second)?
As of my last knowledge update in October 2023, Tranchess operates on the Binance Smart Chain (BSC), which is known for its relatively fast transaction speeds compared to other blockchain networks. Typically, the confirmation time on Binance Smart Chain is around 3 to 5 seconds, although this can vary depending on network congestion.
Regarding throughput, Binance Smart Chain can handle around 100 transactions per second (TPS), allowing for efficient processing of transactions, including those on platforms like Tranchess.
For the most accurate and up-to-date statistics regarding transaction speeds and throughput specific to Tranchess, it's recommended to check their official resources or community updates.
How much data can I store on the Tranchess blockchain? Does it support on-chain data storage?
As of my last knowledge update in October 2021, Tranchess is a decentralized finance (DeFi) protocol that primarily focuses on investment strategies and yield farming rather than on-chain data storage solutions like some other blockchains. While blockchains can technically store data, the primary use cases for Tranchess are not centered around data storage.
Blockchains generally allow for the storage of smart contract states and transaction data, but they are not optimized for large-scale data storage due to factors like cost, speed, and scalability. If your goal is to store significant amounts of data, decentralized storage solutions like IPFS or Filecoin might be more suitable, as they are designed for that purpose.
For the most accurate and up-to-date information, particularly regarding any changes or new features that may have been added to the Tranchess protocol since 2021, it would be best to refer to their official documentation or community channels.
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