Tranchess records notable achievement, seeks to offer its users more income streams with the latest innovation.
Tranchess BNB Fund Goes Live
Tranchess, a yield-enhancing asset tracker with varied risk-return solutions on Binance Smart Chain (BSC), launched a BNB token fund that acts as a BSC validator.
The move sees the Decentralized Finance (DeFi) protocol finally meet its long-term goal of becoming a BSC validator node. As such, users would receive huge alpha and $CHESS returns from the complexities of becoming a BSC validator. The protocol announced the big news on January 13th through Twitter, urging users to claim high Annual Percentage Yield (APY) rewards.
“Our $BNB fund is live! Alpha- and $CHESS rewards start NOW! Don’t miss out. High APYs @>2500% on opening for the early BNB stakers to enjoy!” Tranchess’ official tweet read.
Co-Founder at Three Arrows Capital and supporter of the DeFi protocol, Zhu Su, also broke the news on Twitter. Three Arrows Capital contributed significantly to the growth of the Chess-themed DeFi asset management platform, leading a funding round that generated $1.5 million in 2021.
“1 hr ago, @tranchess launched its BNB Fund enhanced with BSC Validator rewards. This combines the earning of income for securing the BSC network with the existing & successful asset-tracking protocol using stable swap feeds from chainlink,” Zhu tweeted on January 13th.
More Income Stream For Users
Tranchess BNB Fund as a BSC validator means that rewards will be generated from the network for processing and verifying transactions on a Proof-of-Stake (PoS) network. It also makes the BSC network more decentralized after facing massive criticism for having few validators.
The BNB Fund is a significant upgrade to the protocol’s $CHESS tokenomics, complimenting the existing BTC and ETH Funds. In addition, it takes the DeFi protocol from a pure token emission model to a hybrid liquid staking model, offering more alpha yields for users.
Users who stake BNB on the Tranchess platform will not only earn $CHESS emissions but alpha returns. In addition, long-term $CHESS lockers would earn more returns from the platform’s income.
“In the coming months, this could theoretically be done on any PoS chain with validator rewards, thereby combining DeFi with liquid staking and unlocking a new paradigm of sustainable yield for users,” Zhu Su added, replying to his tweet.
About Tranchess
Tranchess is a yield-enhancing asset tracker protocol with varied risk-return solutions. The protocol’s vision is to empower DeFi users with asset allocation flexibilities, providing a long-term solution for holders of crypto assets.
Where to find Tranchess:
Source : bsc.news
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