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View ChartTranchess (CHESS) is a yield enhancing asset tracker with varied risk-return solutions, inspired by traditional tranche funds that cater to different classes of investors with varying risk appetites. It is a tokenized structured fund protocol, a tokenized asset management and derivatives trading protocol, and a decentralized asset management protocol built on the blockchain. The project is a set of blockchain investment products designed to optimize investment in Bitcoin. Based on the tranche principle, Tranchess allows investors to choose between different levels of risk and return, allowing them to tailor their investment strategy to their risk preferences.
The protocol allows users to have enhanced earning while tracking BTC, earn extra interest by lending out their tokens, or enjoy leverage with no forced liquidation. Users also get a share of platform earnings as part of their staking returns. The Tranchess ecosystem allows gains from both NAV and yield perspectives. The team's vision is to empower users of DeFi with Omni Asset Management capabilities and contribute to the paradigm shift from Traditional Finance to DeFi, and in time, to offer a full product suite in Asset Management Protocols, tailored for DeFi users across risk capacities and appetites. Tranchess also offers liquid staking services and tranche funds to optimize investment returns, and users can stake their assets in PoS networks.
CHESS is the governance token of the Tranchess community. The total supply and max supply of CHESS are both 300,000,000 tokens. The circulating supply stands at approximately 205,870,085 CHESS, representing roughly 68.62% to 69% of the total supply. The project launched on June 24, 2021, with its concept incepted in 2020. Tranchess runs on the Binance Smart Chain (BSC) and is also described as multichain. The protocol has undergone multiple rounds of code audit by reputable teams including Peckshield and Certik, maintains a bug bounty via Immunefi, and employs multi-signature security. Its CertiK rating is 4.1.
Tranchess was co-founded by Danny Chong and a team whose concept inception dates to 2020. Danny Chong worked at both BNP Paribas and Societe Generale, holding positions across his career from trading, sales, and management regionally in the FICC space. The broader team comprises professionals with diverse experiences and roles in technology firms such as Google, Facebook, and Microsoft, as well as investment banks such as Morgan Stanley, UBS, and BNP Paribas. Most Tranchess team members come from investment banks, asset management firms, and hedge funds, while the tech team is particularly experienced with cyber security in trading and DeFi protocols. Their knowledge in smart contract coding is additive to the maintenance and upgrades in years to come.
The project raised a total of $1.50M in a seed round dated July 5, 2021, at a price of $0.1 per token and a valuation of $30M. The seed round vesting schedule included a 3-month cliff, 10%, then 0.86% weekly. Lead investors included Three Arrows Capital (1540 Investments) and Spartan Group (13756 Investments), with additional backing from Binance Labs (13566 Investments) and LongHash Ventures (720 Investments), totaling four backers. Team vesting is structured at 0.0% at TGE, a 3-month cliff, and 0.637% weekly. The treasury is 100% unlocked, and incentives follow a non-linear 4-year vesting schedule.
Tranchess consists of three tranche tokens (QUEEN, BISHOP, ROOK) and a governance token CHESS. Each tranche reacts to fluctuations in the price of Bitcoin in a certain way. QUEEN is an index token that tracks BTC price fluctuations; to receive QUEEN, users can pledge BTCB as an underlying asset. BISHOP is a yield token pegged to USDC, featuring a variable interest rate adjusted weekly. The USDC interest rate is determined based on data from the Venus platform, after which a surcharge approved by community vote is added to it. The amount received becomes the BISHOP fixed rate for the following week. ROOK is a leveraged BTC token that allows its holders to borrow funds from BISHOP holders and thereby increase BTC risk exposure.
The protocol leverages smart contracts that make it transparent and automated across processes. The Tranchess smart contracts do not rely on price feeds from other smart contracts and thus are highly resistant to price manipulation such as flash loan attacks. The Tranchess price oracle uses a 30-minute TWAP instead of a discrete oracle price, minimizing the possibility of oracle manipulation attacks. The Tranchess oracle extends the Open Oracle standard by Compound, accepts signed price data from two separate sources (Coinbase and OKEX), and computes time-weighted average price (TWAP) in every 30-minute epoch. Additional product features include speeding up the earnings of CHESS tokens up to 3x, and veCHESS holders voting to decide the PoS staking rewards split between ROOK and BISHOP.
Tranchess stands out through its tranche-based architecture, which is inspired by traditional tranche funds and offers varied risk-return solutions within a single protocol. This design lets investors choose between different levels of risk and return, tailoring their strategy to their risk preferences rather than being locked into a single risk profile. The protocol combines yield enhancement with BTC tracking, allowing users to earn extra interest by lending out their tokens or to enjoy leverage with no forced liquidation, while also receiving a share of platform earnings as part of their staking returns.
Its oracle design further differentiates it. By not relying on price feeds from other smart contracts and by using a 30-minute TWAP that extends the Open Oracle standard by Compound with signed price data from two separate sources, Tranchess is highly resistant to price manipulation such as flash loan attacks. The project also emphasizes security through multiple rounds of code audit by Peckshield and Certik, a bug bounty via Immunefi, and multi-signature protection, earning a CertiK rating of 4.1. The team's stated vision of Omni Asset Management capabilities positions Tranchess as a contributor to the paradigm shift from Traditional Finance to DeFi, with a roadmap toward a full product suite in Asset Management Protocols.
CHESS is the governance token of the Tranchess community and carries several concrete functions within the ecosystem. CHESS holders can participate in voting to adjust the weekly interest rate for BISHOP tokens. CHESS holders also receive weekly rewards in the form of a share of BTCB commissions, approximately 50% of the total commissions of the Tranchess platform. By using CHESS for staking, users can increase the rewards of the liquidity mining program. Additionally, veCHESS holders vote and decide the PoS staking rewards split between ROOK and BISHOP.
Beyond the governance token, the tranche tokens serve distinct investment purposes. QUEEN tracks BTC price fluctuations and is obtained by pledging BTCB as an underlying asset. BISHOP is a yield token pegged to USDC with a variable interest rate adjusted weekly based on Venus platform data plus a community-approved surcharge. ROOK is a leveraged BTC token that lets holders borrow funds from BISHOP holders to increase BTC risk exposure. Together, these tokens let users pursue enhanced earning while tracking BTC, earn extra interest by lending out their tokens, or enjoy leverage with no forced liquidation. Tranchess also offers liquid staking services and tranche funds to optimize investment returns, with users able to stake their assets in PoS networks.
The Tranchess ecosystem is built around a tokenized structured fund protocol that continues to expand its product suite. The project offers liquid staking services and tranche funds, and its roadmap targets a full product suite in Asset Management Protocols tailored for DeFi users across risk capacities and appetites. Development and market activity have been tracked across multiple data platforms, including Chain Broker, which lists Tranchess among projects covered in recurring ecosystem overviews such as decentralized exchange ecosystem overviews, BNB Chain total value locked overviews, and yield farming ecosystem overviews.
The project has appeared in numerous Chain Broker announcements over time, including top daily gainers lists, top undervalued projects by valuation multiplier, top BNB Chain projects by 7D TVL growth, and top projects by development activity growth. Tranchess maintains an active community presence through its official website, Medium, and Twitter/X, and its documentation includes a whitepaper dated December 12, 2023, and a CHESS FAQ dated January 5, 2026. The protocol's TVL stands at $4.83M, with 17.29K holders. Trading and price tracking for CHESS are available across a range of platforms including Coinbase, Crypto.com, Tokocrypto, Yahoo Finance, Coinpedia Markets, Pluang, Blockspot.io, CoinLore, Messari, Meria, Chain Broker, ICO Analytics, Dropstab, and CryptoRank.io.
Tranchess (CHESS) is not mined through proof-of-work. It is a token on the Binance Smart Chain, and CHESS is obtained through participation in the protocol rather than through mining hardware. Users can stake CHESS to increase the rewards of the liquidity mining program, and CHESS holders receive weekly rewards in the form of a share of BTCB commissions, approximately 50% of the total commissions of the Tranchess platform. The protocol also offers liquid staking services, allowing users to stake their assets in PoS networks.
To acquire CHESS, users generally need to set up a compatible wallet, obtain BNB or another supported asset to cover network fees, and then swap for CHESS on a supported platform or decentralized exchange. Those who wish to participate more deeply can stake CHESS, engage in liquidity mining, or hold veCHESS to vote on the PoS staking rewards split between ROOK and BISHOP. Users should verify the correct contract address and network before transacting, and should review the official documentation for the latest staking and liquidity mining details.
Keeping CHESS safe starts with choosing a reputable wallet that supports Binance Smart Chain assets and safeguarding your private keys or seed phrase. Never share your seed phrase or private keys with anyone, and be cautious of phishing sites that mimic official Tranchess or wallet interfaces. Always verify the official website and contract address before interacting with any contract, and double-check network and token details before confirming a transaction.
Tranchess itself emphasizes security through multiple rounds of code audit by Peckshield and Certik, a bug bounty via Immunefi, and multi-signature protection, with a CertiK rating of 4.1. Users can further reduce risk by using hardware wallets for significant holdings, keeping only small amounts in hot wallets for everyday transactions, and reviewing token approvals periodically. Because the protocol involves tranche tokens and staking mechanisms, users should read the official documentation and understand the risks of each product before depositing assets. Staying informed through official channels such as the Tranchess website, Medium, and documentation helps users avoid scams and make safer decisions.
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Thank you for your interest in BTCC. Currently, spot and futures trading services for CHESS are not supported. As a leading digital asset platform, BTCC is committed to providing a secure and stable trading environment. We recommend completing your account registration and identity verification (KYC) to explore other premium assets and exclusive benefits available on BTCC.
As of right now, the live price of Tranchess (CHESS) is $0.000077. Its market price fluctuates in real time based on overall supply and demand, and you can check the updated CHESS to USD rate at the top of BTCC’s price page. In terms of market scope, Tranchess records a 24h trading volume of $0 (reflecting total buying and selling activity over the last 24 hours), with a total market cap of $15.768279K. Its current circulating supply stands at 205.87M out of a maximum supply cap of 300M.
The price volatility of Tranchess (CHESS) is essentially driven by market supply and demand dynamics. Key factors behind its price movements include: 1) Global macroeconomic conditions and sentiment, such as Fed interest rate decisions; 2) Tokenomics, including the ratio of circulating supply (205.87M) to max supply (300M), as well as token unlocks and burn mechanisms; 3) Fundamental developments, such as ecosystem expansion, on-chain activity, and core protocol upgrades; and 4) Derivatives market dynamics, including leverage battles and liquidation cascades in perpetual contracts.
Looking at its historical price performance, Tranchess (CHESS) hit an all-time high (ATH) of $7.921284 on 2021-10-22 05:15, representing the peak of market sentiment. Conversely, its all-time low (ATL) was recorded at $0.000059 on 2026-07-13 01:05. Note that historical highs and lows reflect past performance only and do not guarantee future price trends; investment decisions should always align with live market conditions and your personal risk tolerance.
When trading CHESS futures on BTCC, technical chart analysis begins with identifying key support and resistance levels on 1D and 4H charts using historical price pivots. Next, apply MA/EMA indicators to gauge trend directions, alongside RSI (values above 70 indicate overbought conditions, while below 30 suggest oversold levels). Always validate breakout signals with the 24h trading volume ($0), as price breakouts accompanied by strong volume offer higher reliability.
Unlike spot trading where you can only profit from rising prices, BTCC’s CHESSUSDT perpetual contracts support two-way trading. If you anticipate a price decline for Tranchess, simply log into your BTCC account with USDT margin available, navigate to the CHESSUSDT pair, set your desired leverage and Take-Profit/Stop-Loss levels, and click "Sell/Short". Once the price drops to your target, close your position to lock in profit from the price difference.
Yes. BTCC offers flexible, high-tier leverage options for CHESSUSDT perpetual futures, providing up to 500x leverage (maximum leverage limits may vary depending on liquidity). While leverage boosts capital efficiency by allowing you to control larger position sizes with less margin, it also amplifies liquidation risks proportionately. BTCC strongly advises using Stop-Loss orders to strictly manage risk when trading with high leverage.
Beginners and traders testing new strategies can switch to BTCC's "Demo Trading" mode with a single click on the App or Web interface. The demo account comes pre-loaded with risk-free virtual funds (such as 100,000 USDT). Powered by live market prices (current price: $0.000077), you can practice opening/closing positions, adjusting leverage, and setting TP/SL for CHESSUSDT with zero financial risk.
Trading Tranchess (CHESS) on BTCC requires just 4 simple steps: 1) Register a BTCC account and complete basic Identity Verification (KYC); 2) Buy USDT using fiat via credit card/express payment, or deposit USDT/BTC directly from an external wallet; 3) Navigate to the Futures section, search for CHESSUSDT, and review its live price ($0.000077) and chart; 4) Select your margin mode and leverage, choose "Buy/Long" or "Sell/Short" based on your market outlook, set TP/SL orders, and confirm your trade.
Cryptocurrency prices are subject to high market risk and price volatility. You should only invest in products that you are familiar with and where you understand the associated risks. The content expressed on this page is not intended to be and shall not be construed as an endorsement by BTCC regarding the reliability or accuracy of such content. You should carefully consider your investment experience, financial situation, investment objectives, and risk tolerance, and consult an independent financial adviser before making any investment. This material should not be construed as financial advice. Past performance is not a reliable indicator of future performance. The value of your investment can go down as well as up, and you may not get back the amount you invested. You are solely responsible for your investment decisions. BTCC is not responsible for any losses you may incur. For more information, please refer to our Terms of Use and Risk Warning. Please also note that data relating to the above-mentioned cryptocurrency presented here (such as its current live price) are based on third-party sources. They are presented to you on an “as is” basis and for informational purposes only, without representation or warranty of any kind. Links provided to third-party sites are also not under BTCC’s control. BTCC is not responsible for the reliability or accuracy of such third-party sites or their contents.
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