2021-12-06 04:29:40

1. What is Tranchess?

Tranchess is an Asset Management Project. However, not like other pure asset management projects, Tranchess uses a tokenization mechanism through 3 different tokens that are suitable for 3 styles of investors with different risk attitudes:

QUEEN: is the token of the main fund as a BTC/ETH price tracking token with Yield Farming feature. An investor can exchange an amount of BTC/ETH for exactly the same amount of QUEEN to join farming CHESS - the project's governance token. QUEEN is for risk-neutral investors. 

BISHOP:  is a product that generates profit from USDC. Stakers of BISHOP tokens earn interest at a specific rate that changes weekly. BISHOP is for risk-averse investors.

ROOK: is a leveraged product that is not liquidated like borrowing or margin. ROOK Token holders will borrow daily from BISHOP Token holders to buy BTC tracking main fund. ROOK is for risk-seeking investors. 

ROOK Token profit = main fund profit and loss – profit paid to Token BISHOP


2. How to use Tranchess?

2.1 How to own and stake QUEEN tokens

Tranchess is now supporting 2 tokens: BTC and ETH that investors can use to join staking and farming on Tranchess. For example, here I choose BTC. 

Step to own QUEEN tokens:

1. Go to the Tranchess homepage.

2. Click on "Create with BTCB" on the front page beside Queen icon.

3. Click "Approve BTCB" and confirm the transaction in your Neko wallet. Once the transaction is confirmed, enter the amount of BTCB you want to create and click the "Create Queen" button. 

4.  Confirm the transaction in your Neko wallet. Once the transaction is confirmed, you should see an estimated number of QUEEN under "Claimable assets" as "Unsettled".

5. After settlement, you can claim QUEEN back to your wallet or click on "Claim and stake Queen" to start farming CHESS. 

Now you've successfully claimed and staked Queen to earn CHESS.


2.2 How to own BISHOP and ROOK tokens

Step to Split your QUEEN tokens into BISHOP and ROOK tokens:

1. Go to the Primary Market page.

2. Choose “Split & Merge” and then enter the amount of Token Queen you'd like to split. Tranchess will give you an estimate of the amount of Token Bishop and Rook you'd receive. 

2. Click "Split Queen" and confirm the transaction in your Neko wallet.

3. Now you've successfully owned BISHOP and ROOK and you will see the updated balance in your wallet.


2.3 How to stake BISHOP and ROOK tokens

Step to stake BISHOP and ROOK tokens:

1. Go to the Tranchess homepage and choose “Staking”.

2. Click on "Mint with tokens" on the front page beside CHESS icon.

3. Choose the farm you like and Click on "Stake" under Wallet Balance.

4. Enter the number of tokens you'd like to stake in the pop-up, click "Stake", and confirm your transaction in your Neko wallet.

5. Now you will see these updates on the Staking page: total staked value, updated staked balance under BISHOP/ROOK, and instant accumulation of CHESS rewards!


2.4 How to lock CHESS

Step to lock CHESS tokens:

1. Go to the Tranchess homepage and choose “Staking”.

2. Click on "Mint with tokens" on the front page beside CHESS icon.

3. Click on “Lock CHESS for more rewards”. Then click on “Lock CHESS”, put in the amount of CHESS you’d like to lock, and choose the desired duration. The longest locking duration is now set at 6 months. The longer options will be enabled gradually in the future.

4. You will be given an estimated amount of veCHESS you can get and an estimated amount of BTCB rebate you would receive.

5. Now click on “Lock CHESS”. Please make sure to read carefully the message shown on the pop-up window.  Click on “Yes, continue to lock” if and ONLY IF you have fully understood the given message and have decided to lock your CHESS for the given duration.

6. You will see the numbers updated under “Your locked CHESS” and “Your eligible veCHESS”. You can always lock more CHESS or extend your locking duration. You have now successfully locked your CHESS tokens

If there are any questions, please feel free to join our community for further discussions about Crypto/Neko Wallet with our team and other members!