Buy Tranchess (CHESS)
What is Tranchess?
Tranchess is a decentralised financial protocol designed to enhance yield for asset tracking through varied risk categories, tailored for investors with different risk appetites. Inspired by traditional finance's tranche funds, Tranchess provides a solution that offers different risk/return matrices out of a single primary fund that tracks a specific underlying asset such as Bitcoin (BTC).
How does Tranchess work?
Tranchess operates by using a tokenised fund protocol that segments risk-return structures. It runs on the BNB Chain, Ethereum, and Scroll (an Ethereum Layer 2), utilising smart contracts to manage operations. The protocol has three main tokens: QUEEN, BISHOP, and ROOK, which facilitate asset management, yield enhancement, and governance. The QUEEN fund tracks the underlying asset and can be divided into BISHOP and ROOK, each catering to different risk profiles. Users can earn additional yields through staking and participate in governance with CHESS tokens, the native currency.
What are the potential use cases for Tranchess?
- Asset Management: Tranchess enables investors to manage crypto assets by choosing different risk-return matrices using QUEEN, BISHOP, and ROOK tokens.
- Yield Enhancement: The platform offers yield enhancement through staking and liquidity provision.
- Liquidity Provision: CHESS tokens are integral for liquidity mining, thereby promoting liquidity in the ecosystem.
- Governance: Holders of CHESS tokens can engage in the platform's governance mechanisms.
What is the history of Tranchess?
Tranchess was founded in 2020 by Danny Chong and his team, who aimed to develop a yield-enhancing asset tracker protocol based on traditional tranche funds. Significant milestones include the commencement of trading for the CHESS token in July 2021 and its launch on the Binance Smart Chain. The project has expanded with components like Liquid Staking and diversified token management strategies while securing funding from prominent investors such as Three Arrows Capital and Binance Labs. Over time, Tranchess has grown by offering new DeFi products and establishing partnerships, broadening its market presence and user base.
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Frequently Asked Questions (FAQs)
What is the current price of Tranchess (CHESS)?
The Tranchess price is $0.32341402 AUD, representing a +10% from the day prior.
Where is the best place to buy Tranchess (CHESS) in Australia?
The best place to buy Tranchess (CHESS) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Tranchess (CHESS) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Tranchess (CHESS)?
The trading volume of Tranchess (CHESS) is $24.3M AUD in the last 24hrs, representing a +10% from the day prior.
How can I buy Tranchess (CHESS)?
Tranchess (CHESS) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Tranchess (CHESS)?
The current market cap of Tranchess (CHESS) is $64.5M AUD.
Can I convert Tranchess (CHESS) to cash?
Yes - With Coinstash you can convert your Tranchess (CHESS) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Tranchess (CHESS) are there?
The current circulating supply of Tranchess (CHESS) is 195.2M.
Is Coinstash a safe place to buy Tranchess (CHESS) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Tranchess (CHESS) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.