Tranchess (CHESS)

Tranchess was founded in 2021 as a DeFi protocol by Danny Chong and his team, all with extensive experience in software and tech companies. With Tranchess, they aim to establish a basis for a liquid staking protocol, themed around chess. You can stake and lock ETH and BNB tokens in a liquidity pool, and in return, you receive qETH and qBNB, respectively. The "q" stands for Queen, an important component in chess. Furthermore, you can further divide your QUEEN tokens into BISHOP and ROOK tokens, which represent different investment strategies. It is up to the user to determine the level of risk they want to take. BISHOP tokens are for the conservative investor, involving lower investments and therefore lower returns. This is for those who want to take a low-risk approach. QUEEN tokens represent the average option: this fund is mainly designed for the long term, offering a moderate profit potential. For users who prefer a higher risk, the ROOK token is the most suitable. With ROOK, you borrow with leverage from BISHOP holders. The return of ROOK consists of the profit or loss from the QUEEN tranche minus the interest paid to BISHOP holders. Additionally, there is the Tranchess Primary Market, used for creating and redeeming BTCB's, splitting, and merging QUEEN tokens. Users can exchange tokens via the Swap feature. Finally, there is the CHESS token, which serves as a governance token, allowing people to vote on platform changes.