What Is Tranchess ($CHESS) Coin: Is $CHESS A Good Investment In 2024?

Tranchess is a new chess-themed DeFi protocol with multiple risk-reward solutions that expand the appeal of liquid staking on Ethereum and BNB chains. The protocol’s ecosystem consists of four different tokens, QUEEN, BISHOP, ROOK, and CHESS, which play an important role in the operation of Tranchess.

In this article, we will give a detailed introduction to Tranchess and its tokens, and focus on analyzing the price and future development of CHESS coins.

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Table of Contents

Latest News & Updates on Tranchess ($CHESS)

What is Tranchess?

How does Tranchess Work?

What is the CHESS Token?

$CHESS Tokenomics

$CHESS Price History

Tranchess ($CHESS) Price Prediction

Is Tranchess ($CHESS) a Good Investment in 2024?

How to Buy the CHESS Token?

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Latest News & Updates on Tranchess ($CHESS)

According to official announcement, Binance launched the CHESS/USDT perpetual contract with up to 75x leverage at 07:30 UTC on August 29. Notably, the price of Tranchess ($CHESS) experienced a remarkable surge, jumping nearly 40% following its new listing on one of the world’s leading cryptocurrency exchanges, Binance.

What is Tranchess?

Tranchess is a yield-enhancing crypto-asset management protocol. It provides users with various risk-return products corresponding to their appetites via three types of tokens.

The concept of Tranchess was first incepted in early 2020 and was developed quickly into its current state. Inspired by tranche funds’ ability to satisfy users’ varying risk appetites, Tranchess aims to provide a different risk/return matrix out of a single main fund that tracks a specific underlying asset (e.g. BTC, ETH, BNB) or a basket of crypto assets.

Tranchess includes three tranche tokens (QUEEN, BISHOP, and ROOK) for each fund and its governance token CHESS.

• QUEEN: QUEEN is created by depositing BTCB, ETH or BNB via the Primary Market of Tranchess. QUEEN is designed for long-term HODLERS of the underlying crypto assets and provides an additional yield that ranges between 2% to 16%, depending on the fund.
• BISHOP: BISHOP is created by splitting QUEEN in the Primary Market of Tranchess. Every QUEEN token can be split evenly into 0.5 BISHOP and 0.5 ROOK. BISHOP is designed for investors who want to receive higher yields on their stable coins. BISHOP currently provides an APY between 7% to 22%, depending on the fund.
• ROOK: ROOK is created by splitting QUEEN in the Primary Market of Tranchess. Every QUEEN token can be split evenly into 0.5 BISHOP and 0.5 ROOK. ROOK is designed for aggressive investors who want to take a leveraged position on a certain crypto asset. ROOK protects investors from forced liquidation and earns an additional yield between 1.5% to 10% on top of the 1.7~2.2 times leveraged position.

Tranchess also provides other DeFi products diversifying the platform such as Swap, Primary Market, Staking, and Community Governance.

How does Tranchess Work?

Tranche QUEEN is the main fund of Tranchess that follows the BTC price equipped with a yield farming feature. Rather than holding BTC, users can swap BTCB (wrapped BTC on BSC) for QUEEN tokens through the creation process or buy on the Tranchess swap with USDC.

While staking QUEEN, you can earn CHESS as additional rebate rewards. If you want to stop staking in the QUEEN fund, you can simply convert QUEEN tokens back to BTC via the redemption process.

QUEEN can be simultaneously divided/merged into BISHOP and ROOK tokens.

Tranche BISHOP is the sub-fund of the QUEEN fund. It offers a predetermined interest based on a daily basis as BISHOP holders provide liquidity to Tranche ROOK.

In simple terms, this interest of Tranche BISHOP can be considered risk-free since BISHOP holders lend USDC to ROOK holders for leveraging their positions. And the APR of Tranche BISHOP is calculated according to the weekly borrowing rate of Venus and the community voting. There’s no lockup period for BISHOP holders.

Tranche ROOK is a leveraged financial product with no forced liquidation since the loan is in the main tranche. ROOK holders can borrow on a daily basis from BISHOP holders to leverage their position in the main tranche QUEEN. In other words, ROOK holders borrow USDC provided by BISHOP holders to leverage the exposure in the main QUEEN funds.

ROOK’s return = profits/losses of the tranche QUEEN – the interest paid for BISHOP holders.

Note: QUEEN, BISHOP, and ROOK have a NAV (Net Asset Value) for creation and redemption, and an Open Market price for swapping.

Tranchess Primary Market is used for creation and BTCB redemption, splitting, and merging QUEEN tokens. This feature supports users while they interact with three tranches.

Tranchess Swap is an order-book-based exchange that allows users to trade for three token tranches directly on the platform.

What is the CHESS Token?

Cryptocurrency	Tranchess
Token	CHESS3
Price	$ 0.1983 8.54%
Rank	719
Market Cap	$ 32.8M
24H Trading Volume	$ 44.3M
All-time High	$ 7.8764
All-time Low	$ 0.0892
24 High	$ 0.2011
24 Low	$ 0.1655
Cycle High	$ 0.2784 / 2024-12-06 21:48:54
Cycle Low	$ 0.0892 / 2024-08-05 06:45:00
Update Time	2024-12-21 00:01:02

CHESS serves as the governance token for the protocol. In contrast, QUEEN, BISHOP, and ROOK are designed to tokenize and symbolize cryptocurrency investments. Primarily, CHESS is utilized to facilitate on-platform governance. This token adheres to BNB Chain’s primary BEP-20 fungible standard.

Users who decide to lock their CHESS tokens on the platform receive veCHESS, a token specifically designed for practical operational use within the protocol. The core functionalities of CHESS are executed through veCHESS, while the actual CHESS tokens remain locked and are thus employed indirectly. These core functionalities encompass:

1. On-platform governance. Token holders get to vote on important protocol parameters and rates.
2. Revenue accrual. Holders of CHESS are entitled to 50% of protocol revenues, paid out weekly in fee rebates in the form of the underlying crypto asset (i.e., BTCB or ETH).
3. Staking rewards accrual. Staking QUEEN, BISHOP or ROOK is a key way to earn CHESS rewards at a faster rate on the protocol.

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$CHESS Tokenomics

The CHESS Token has the total max supply of 300,000,000 tokens，distributed as follows:

• Community Incentives: 50%.
• Core Team: 20%.
• Future Investors: 15%.
• Ecosystem/Treasury: 10%.
• Seed Investors: 5%.

$CHESS Price History

The CHESS coin was launched in July 2021, when its price fell around $0.40. Following the bull market, the CHESS coin hit an all-time high of $7.92 (ATH) in October of that year before starting to fall back.

As of writing this article, Tranchess ($CHESS) is traded at $ 0.1983, boasting a market cap of $ 32.8M, and witnessing a hefty 24-hour trading volume of $ 44.3M. $CHESS saw a 24-hour change of 8.54%, with minor fluctuations of 0.07% in the past hour.

The following sets forth the CHESS to USD Chart

Tranchess Chart

Tranchess ($CHESS) Price Prediction

Now that we know what CHESS is and how it has performed in the past, let’s take a look at CHESS price prediction.

Tranchess ($CHESS) Price Prediction 2024

The upward momentum of Tranchess is anticipated to persist in 2024, fueled by the introduction of more Tranchess-related financial services and a broader global adoption. Therefore, it is predicted that the CHESS cryptocurrency might reach a maximum price of $1.071 and a minimum price of $0.970, resulting in an average price of $0.909 for 2024.

Here are the possible price changes we expect for Tranchess in the next half month:

Tranchess ($CHESS) Price Prediction 2025

In terms of Tranchess ($CHESS) price prediction for 2025, the forecast indicates that $CHESS will reach a minimum price of $ 0.3144. The maximum CHESS price is estimated to be $ 0.5771, with the year’s average price hovering around $ 0.4726.

Tranchess ($CHESS) Price Prediction 2030

In terms of long-term price prediction for 2030 on Tranchess ($CHESS), it is projected that Tranchess ($CHESS) would be traded at a minimum price of $ 0.6265. The maximum price could be $ 1.1553, with an average price of $ 1.0733 throughout the year.

Tranchess ($CHESS) Price Prediction 2050

In terms of long-term price prediction for 2050 on Tranchess ($CHESS), it is projected that Tranchess ($CHESS) would be traded at a minimum price of $ 1.0268. The maximum price could be $ 1.8857, with an average price of $ 1.7483 throughout the year.

There is large uncertainty about the future price of Tranchess ($CHESS) token, as the cryptocurrency market changes rapidly. With this in mind, we have made both more bullish and more bearish forecasts for Tranchess ($CHESS) crypto based on a variety of different scenarios.

Potential Highs & Lows of CHESS

Here are our projected highs and lows for CHESS from 2025 to 2050:

In summary, it’s crucial to be fully aware of the extreme volatility and unpredictability of cryptocurrency markets. These long-term forecasts should be approached with caution and should not serve as investment advice. It’s advisable to conduct thorough research and seek consult with financial experts before making any investment decisions in the realm of cryptocurrencies.

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Is Tranchess ($CHESS) a Good Investment in 2024?

Tranchess aims to bring the asset management product to DeFi users since it’s a crucial part of any financial system. It solves multiple pain points (will be discussed below) in the DeFi space that makes Tranchess different from other asset management platforms.

Tranchess is built on Binance Smart Chain; therefore, it inherits all technology advantages and the network effect of BSC. The BSC ecosystem has been significantly developing with countless projects since the beginning of 2021. As a result, Tranchess’s TVL is placed at the top 3 in a big ecosystem, indicating its TVL attractiveness.

No locking period, steady return, and leveraged positions are all guaranteed on the Tranchess platform. Users can select the tranche (QUEEN, BISHOP, and ROOK) suitable for their appetites. This makes Tranchess an all-in-one asset management platform satisfying its users.

In general, Tranchess brings a relatively high level of APYs if compared to other DeFi protocols.

Besides the governance utility of the CHESS token, it has no other utilities incentivizing the demand of the platform token. The roadmap cites that there will be more use cases for CHESS soon. This means the Tranchess team is aware of that, so it’s worth following the project further.

And as usual, whether it is worth investing or not, Do Your Own Research before buying and be responsible for your investment.

How to Buy the CHESS Token? 

$CHESS was already listed on cryptocurrency exchanges such as Binance, Gate.io, MEXC, etc., where investors can make a purchase.

Unfortunately, $CHESS has not been listed on BTCC at present. However, it is worth mentioning that BTCC, one of the longest-running crypto exchanges in the world,  supports trading for 300+ cryptocurrencies with a leverage ranging from 0Χ to 250Χ. If you want to start trading cryptocurrencies like BTC, ETH, etc., you can start by signing up for BTCC.

FAQs About Tranchess ($CHESS)

What is the all-time high for Tranchess (CHESS)?

The highest price paid for Tranchess (CHESS) is $ 0.2784, which was recorded on 2024-12-06 21:48:54.

What is the all-time low for Tranchess (CHESS)?

The lowest price paid for Tranchess (CHESS) is $ 0.0892, which was recorded on 2024-08-05 06:45:00.

What factors affect the price of CHESS?

There are several factors that affect the price of Tranchess ($CHESS). These include overall market sentiment, updates or changes within the Tranchess platform, user adoption, changes in regulations and laws related to cryptocurrencies, economic factors, and other aspects of competition.

Is Tranchess ($CHESS) a good investment?

Due to the volatility of these markets, investing in $CHESS token or any other cryptocurrency involves significant risk. Therefore, potential investors should thoroughly research and consider their financial goals, risk tolerance and investment timeline before investing in cryptocurrencies.

Where to buy Tranchess ($CHESS)?

Tranchess ($CHESS) can be purchased on various cryptocurrency exchanges. The choice of exchange usually depends on your location, your preferred payment method, fees, user experience, and the exchanges where $CHESS coin is available.

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