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Information about "Tranchess"
Who are the people behind the creation of Tranchess Protocol?
The Tranchess Protocol was conceived by Co-Founder Danny Chong along with his team. The idea took shape in 2020, bringing together a group with varied backgrounds, having worked at major tech companies like Google, Facebook, and Microsoft, as well as at prestigious investment banks such as Morgan Stanley, UBS, and BNP Paribas.
Our technical team possesses extensive expertise in cybersecurity related to trading and decentralized finance (DeFi) protocols. Their proficiency in smart contract programming is crucial for future maintenance and development.
Danny has an impressive track record, having held positions at BNP Paribas and Societe Generale across trading, sales, and management within the regional FICC sector.
The team's goal is to enable users in the DeFi space with comprehensive asset management capabilities, contributing to the shift from traditional finance to DeFi. Over time, they aim to provide a complete range of asset management protocol products, designed to cater to the varying risk profiles and preferences of DeFi users.
Our technical team possesses extensive expertise in cybersecurity related to trading and decentralized finance (DeFi) protocols. Their proficiency in smart contract programming is crucial for future maintenance and development.
Danny has an impressive track record, having held positions at BNP Paribas and Societe Generale across trading, sales, and management within the regional FICC sector.
The team's goal is to enable users in the DeFi space with comprehensive asset management capabilities, contributing to the shift from traditional finance to DeFi. Over time, they aim to provide a complete range of asset management protocol products, designed to cater to the varying risk profiles and preferences of DeFi users.
What distinguishes Tranchess from others?
Tranchess stands out due to its use of smart contracts, which ensures transparency and automation in its processes. The protocol allows users to enhance their earnings by tracking Bitcoin, earn additional interest by lending their tokens, or use leverage without the threat of forced liquidation. Additionally, users receive a portion of the platform's earnings as part of their staking rewards. The Tranchess ecosystem offers gains from both net asset value (NAV) and yield perspectives.
How is the security of Tranchess Protocol ensured?
Our smart contracts are designed to operate independently of external price feeds, making them more resistant to price manipulation tactics like flash loan attacks. Tranchess uses its own price oracle, utilizing a 30-minute Time-Weighted Average Price (TWAP) instead of discrete oracle prices, which reduces the risk of oracle manipulation attacks. The Tranchess oracle builds upon the Open Oracle standard established by Compound, accepting signed price data from both Coinbase and OKEX, and computes the TWAP every 30 minutes.
Additional security measures include multiple rounds of code audits by reputable teams like Peckshield and Certik, a bug bounty program through Immunefi, and the implementation of multi-signature settings.
Additional security measures include multiple rounds of code audits by reputable teams like Peckshield and Certik, a bug bounty program through Immunefi, and the implementation of multi-signature settings.
How many CHESS Tokens are currently in circulation?
The total supply of Chess Tokens is capped at 300 million, distributed as follows: 5% for seed investors, 20% for the core team, 15% reserved for future investors, 50% for liquidity mining, and 10% for the Treasury.
From the Treasury, 300,000 tokens are released through Pancakeswap’s liquidity pool.
The emission of CHESS tokens proceeds as follows:
For Weeks 1 to 4, 300,000 tokens are distributed in the first week, with an additional 300,000 tokens added each subsequent week.
Week 5 sees the distribution of 2,400,000 tokens.
From Weeks 6 to 20, it starts with 2,304,000 tokens and decreases by 4% each week thereafter.
The plan for the remaining distribution will be determined at a later date.
From the Treasury, 300,000 tokens are released through Pancakeswap’s liquidity pool.
The emission of CHESS tokens proceeds as follows:
For Weeks 1 to 4, 300,000 tokens are distributed in the first week, with an additional 300,000 tokens added each subsequent week.
Week 5 sees the distribution of 2,400,000 tokens.
From Weeks 6 to 20, it starts with 2,304,000 tokens and decreases by 4% each week thereafter.
The plan for the remaining distribution will be determined at a later date.
Where can I purchase Tranchess Protocol (CHESS)?
You can trade CHESS on Pancakeswap starting from July 8, 2021. It will also become available on other exchanges in the future.
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