.Tranchess spikes up 80% amid negative market: What happened? chess bnbchain
Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.CHESS is the governance token of Tranchess project, launched in 2021 with the support of Binance Labs, Three Arrows Capital and Spartan.
The token launched on the basis of BNB Chain has lost almost 90% of its value since the beginning of the year, but its fundamental advantages over its competitors in the field of yield enhancing asset tracking have not gone anywhere. The project has remained undervalued for a very long time, and, apparently, when its quotes reached the bottom at $0.22,"smart money" decided to accumulate a big chunk of CHESS.
BISHOP: a fixed income fund. Holders of this fund/token provide liquidity to the third fund and thus receive interest on a daily basis. Similar to bank deposits, BISHOP generates returns regardless of ETH or BTC price spikes. The variable rate each week is BORROW from Venus, and a vote by CHESS holders decides what premium to add to that rate.
ROOK, in fact, is an investment in BTC or ETH with leverage. The peculiarity of the product is the absence of forced liquidation - this is an innovation in the world of DeFi. Investors take a"loan" from BISHOP investors, then invest in the main fund . At the exit, investors make a profit of the main fund, QUEEN, minus interest, which is paid to BISHOP holders.
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