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The decentralized finance (DeFi) sector knows no shortage of protocols and solutions for yield generation and enhancement. Many asset optimization platforms, liquid staking solutions and a variety of other protocol types all promise to deliver the best yields possible in the industry. However, most of these protocols don't provide enough flexibility for traders to pick and choose preferred risk profiles. Although traders can invest in different crypto assets, each with their own risk level, the ability to select different risk profiles based on the same underlying investment asset isn't the most commonly encountered option in DeFi.
Tranchess is a protocol that offers exactly this opportunity. By utilizing the concept of tranches, structured products with differing risk profiles but based on the same underlying asset, the chess-themed Tranchess aims to provide DeFi traders with yield opportunities based on their preferred risk tolerances and investment styles.
The protocol started in 2021 as an asset tracker for yield optimization and developed over time into a platform offering a range of DeFi services — tranche-based crypto fund investment, liquid staking and liquid token swaps. Tranche-based crypto investment in funds based on high-cap assets like BNB and ETH is the protocol's core service.
Key Takeaways:
Tranchess is a DeFi protocol that provides two primary services: liquid staking and tranche-based crypto investment, a form of structured investment where traders can choose different risk/reward profiles in a fund based on the same underlying asset.
The protocol offers its services on two blockchain platforms — BNB Chain (BNB) and Ethereum (ETH).
Tranchess uses a multi-token system, with the main token, CHESS, used for governance, revenue-sharing and staking reward accruals. CHESS can be bought on Bybit as a USDT Perpetual contract.