Tranchess is a tokenized asset management and derivatives trading protocol. It offers a unique risk/return matrix through a single main fund that tracks a specific underlying asset. The name Tranchess is inspired by the game of chess and the French word 'Tranche', which is often associated with tranche funds catering to different classes of investors with varying risk appetites. Tranchess was launched on June 24th, 2021. The main fund, known as token $QUEEN, tracks a specific underlying asset and can be split equally into two sub-funds. Initially, BTC is chosen as the first crypto asset to track. Tranchess also incorporates popular DeFi features such as single-asset yield farming, borrowing and lending, and trading.

$QUEEN: $QUEEN is created by depositing BTCB, ETH, or BNB via Tranchess' Primary Market. $QUEEN is designed for long-term HODLERS of the underlying crypto assets and provides an additional yield ranging from 2% to 16%, depending on the fund.

$BISHOP: $BISHOP is created by splitting $QUEEN in Tranchess' Primary Market. Each $QUEEN token can be split evenly into 0.5 $BISHOP and 0.5 $ROOK. $BISHOP is designed for investors seeking higher yields on their stable coins. Currently, $BISHOP offers an APY between 7% to 22%, depending on the fund.

$ROOK: $ROOK is created by splitting $QUEEN in Tranchess' Primary Market. Each $QUEEN token can be split evenly into 0.5 $BISHOP and 0.5 $ROOK. $ROOK is designed for aggressive investors looking to take a leveraged position on a certain crypto asset. $ROOK protects investors from forced liquidation and earns an additional yield ranging from 1.5% to 10% on top of the 1.7~2.2 times leveraged position.

$CHESS: By staking $QUEEN, $BISHOP, or $ROOK tokens on Tranchess, users can farm $CHESS, the governance and utility token of Tranchess. $CHESS can also be obtained on Binance or Pancake Swap.

Tranchess Protocol was founded by Danny Chong and a team of experienced professionals. The team consists of individuals with diverse backgrounds, including tech firms like Google, Facebook, Microsoft, and investment banks like Morgan Stanley, UBS, and BNP Paribas.

The tech team has extensive expertise in cyber security, trading, and DeFi protocols, which contributes to the development and maintenance of the protocol.

Danny Chong, the Co-Founder, has a strong background in trading, sales, and management in the FICC space, having worked at BNP Paribas and Societe Generale.

The team's vision is to empower DeFi users with Omni Asset Management capabilities and play a significant role in the transition from Traditional Finance to DeFi. They aim to offer a comprehensive suite of Asset Management Protocols tailored for DeFi users with different risk capacities and appetites.

Tranchess Protocol stands out due to its utilization of smart contracts, which ensures transparency and automation in various processes. Users can earn enhanced returns while tracking BTC, earn additional interest by lending out their tokens, or enjoy leverage without the risk of forced liquidation. Additionally, users receive a share of platform earnings as part of their staking returns. Tranchess offers a unique ecosystem that allows users to benefit from both NAV and yield perspectives.

Tranchess Protocol employs robust security measures to ensure the safety of its users. The smart contracts are designed in a way that they do not rely on price feeds from other smart contracts, making them highly resistant to price manipulation and flash loan attacks. The protocol utilizes a 30-minute TWAP (Time-Weighted Average Price) oracle, minimizing the possibility of oracle manipulation attacks. Tranchess oracle extends the Open Oracle standard by Compound and accepts signed price data from two separate sources (Coinbase and OKEX) to compute the TWAP in every 30-minute epoch.

Furthermore, the protocol has undergone multiple rounds of code audits by reputable teams such as Peckshield and Certik. It also has a Bug Bounty program in place (Immunefi) and employs multi-signature settings for enhanced security.

The total supply of CHESS tokens is 300 million, with the following allocation: 5% for seed investors, 20% for the core team, 15% reserved for future investors, 50% for liquidity mining, and 10% for the Treasury.

300,000 CHESS tokens from the Treasury are released through Pancakeswap's liquidity pool.

The token emission schedule is as follows:

- For Week 1-4, an additional 300,000 tokens are distributed each week on top of the previous week's distribution.

- Week 5 distributes 2,400,000 tokens.

- For Week 6-20, the distribution starts from 2,304,000 tokens and decreases by 4% each subsequent week.

The remaining distribution will be determined at a later stage.

The CHESS token is currently available for trading on Pancakeswap since 8 July 2021. It will be available on other exchanges in the future.