We are pleased to announce our next AMA on July 22nd 2021 at 01:00 PM UTC Time: Satoshi Club x Tranchess
⚠️Click to see the hour
⚠️Total Reward pool: $500
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Tranchess Telegram group
We will have the following structure:
Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions.
Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. Tranchess Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about Tranchess
For more details:
Tranchess Website – tranchess.com
Tranchess Telegram – @tranchess
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
If a user wishes to participate and swap their Bitcoins for the Token Queen by its ‘creation process’, will there be a transaction fee/payment in doing so and what is the minimum and maximum amount of $BTC that can be swapped for the Token Queen?
We all know that the price of Bitcoin is very volatile in nature and I have learned that the creation/conversion period of $BTC to Token Queen is not instantaneous. I am a little worried that what if the price of $BTC crashes while waiting for my Token Queen to be created. So my question is that, how long would it take for a user to mint/create his/her converted Token Queen from $BTC and do you have a cancellation option for this in case Bitcoin’s price plunges
As of now, Tranches Swap is only compatible for $BTC so, in the near future, would you consider supporting other tokens in the future like $ETH and $BNB so we could see tokens like QUEEN-ETH, BISHOP-ETH, ROOK-BNB?
Tanchess instead of negotiating the live prices of the tokens, the premiums or discounts of a TWAP (time weighted average price) are negotiated, what is the main difference between these 2 procedures? Between Token QUEEN, BISHOP and ROOK, which one is in greater demand, since these tokens can be purchased directly with USDC, for other transactions is this option to use USDC valid?
Could you explain to us what a derivatives trading protocol is, what are its main functionalities and usefulness at the cryptographic level? What are the levels of risks that investors are more prepared to assume and what is their margin of incidence on liquidity and profitability?
What is the level of risk to which each of the three designed tranches is exposed: stable yield yield (Tranche BISHOP), trading of leveraged crypto assets (Tranche ROOK) and long-term holding of crypto assets (Main Tranche QUEEN), even when Be prepared to automatically solve some risks, external inconveniences may arise that destabilize them, how can you foresee factors such as market volatility, massive withdrawal of investors?
It caught my attention that I read your main token QUEEN is a BTC-tracking token; “The main fund is a BTCB tracking index fund. QUEEN’s Net Asset Value (NAV) tracks the BTC price on a fully correlated basis”. Can you tell us more about this? How is your token QUEEN able to do that tracking process and how accurate it really is since BTC has been really volatile these past few months? What benefits brings to Tranchess having a main token that tracks BTC? Also, what advantages this 1:1 QUEEN – BTC bring to your users?
Can you give us more information about your tokenomics, please? Because I saw Tranchess has 4 tokens; QUEEN, BISHOP, ROOK and CHESS, so, why 4 tokens? What are the main functions of each one of this tokens and what are the benefits of having this multi-token system on your platform? Also, it caught my attention that QUEEN can be split into BISHOP and ROOK, is that right? How can users do this token split and why should they do it? And, can they merge BISHOP and ROOK back to QUEEN if they also want to?
While looking for information about Tranchess, It caught my attention that the Project works with a daily Settlement time set at 14:15 UTC, can you tell us more about this process? What is this settlement that occurs on your platform everyday at 14:15 UTC? What function does it have on the development of Tranchess? How long does this daily settlement last? Also, why does this happen everyday at exactly 14:15 UTC?
According to what I’ve read, the tranchess token QUEEN allows you to leverage multiple tokens such as BISHOP AND ROOK. What are the short-term and long-term benefits of owning QUEEN, and how do we obtain BISHOP AND ROOK tokens?And Lastly Tranchess develops solutions in areas such as single-asset yield farming,and lending. Why is Tranchess made up of three coin?
According to your whitepaper, the Tranchess protocol automatically calculates the NAV of the main leg based on Oracle’s price feed every day at 14:00 UTC in order to perform the swap and creation process. Why are these transactions taking so long? Why can’t they be? Is it possible to improve this in the future?
How will Queen monitor BTC yield farming? What is the relationship between QUEEN’s net asset value and the BTC price, and why should investors exchange their BTC for QUEEN tokens rather than passively holding BTC?BISHOP holders, according to what I’ve read, can earn interest from ROOK holders. How will this work in progress, and will only USDC lenders to ROOK holders be eligible for consideration?
I noticed that TRANCHESS has a very interesting project topic, especially the names of the tokens: Queen, Bishop, Rook, Chess. Could you tell us how you came to this idea, what is the meaning of your chosen project concept? Why were your tokens named that way, do their functions and purpose depend directly on their name, and what is their main difference from each other?
Since Tranchess is a tokenized asset management,My question is,What is this idea based on?Can you explain to us what assets are tokenized and how they are tokenized?How will users benefit from their asset being tokenized,is KYC needed for this? Thanks
Every token QUEEN can be simultaneously split into two other tokens: 0.5 token BISHOP and 0.5 token ROOK. The token BISHOP is a risk-free tranche, and the token ROOK is a leveraged BTC tranche. BISHOP holders earn interest from ROOK holders, i.e, BISHOP holders are effectively lending USDC to ROOK holders for leveraged BTC exposure and thereby earning an interest payment. Can you tell us more about these features of your tokens? Why is QUEEN divided into BISHOP and ROOK in equal shares? Have you thought to enable token holders to regulate the ratio of tokens into which QUEEN will be divided? And what interest can BISHOP token holders earn from ROOK token holders, what does it depend on and how is it calculated?
Going through your article,I noticed that Tranchess has its own weekly APR voting and weekly BTCB Rebate.Can you please tell us the process of voting and rebating on your platform?Which of your token one has to hold more to participate in it?How is your voting power calculated?Can Satoshi Clubbers join in your Rebate or is it just for your community of investors.
In Tranchess at every 14:00-14:15 UTC daily,you automatically calculate your Net Asset Value of the main tranche based on the oracle’s price feed,processes all creation and redemption request.My question is,Which of your token undergo such process?And what is the function of the Creation/Redemption request?Can you tell us what takes place during that 15minute daily settlement on your project? THANKS
Protocol Tranchess Raises $ 1.5 Million in Seed Round led by Three Arrows Capital and Spartan Group. An excellent start to a long and difficult journey! After all, you stated that you are aiming to transfer control of the DAO protocol by Q4 2021, along with companion 2.0 applications. As I understand it, the money raised will go exactly in this direction: to further expand the project and strive to become a multi-chain solution while completing the development of the DAO? At what stage of development towards your goal are you now, what difficulties have you encountered and which have been resolved, because the fourth quarter is already very close?
It caught my eye the fact that I read about a system on Tranchess called “Tranchess Swap’s Premium-Discount Orderbook system”, could you please give us more details about this system? How does it work? How can someone get access to this system and what benefits does this offer to people? Why should investors use this Premium-Discount Orderbook system?
Can you tell us what is the relationship between the ROOK, BISHOP, QUEEN tokens? What’s the role of each one into the ecosystem? Also can you explain us how is the interaction between your ecosystem with Stablecoins such USDC ?
♦️ I have understood that Tranchess use a “REBALANCE” that work only to keep the stability of the ROOK token, but can you tell us why only works with the ROOK and not the other tokens? Also how many times this funtion works?
I read that Tranchess has a mechanism called “Rebalance”, could you please give us more details about it? How does this mechanism work? What is it’s main function on your platform and on the development of it? What kind of benefits do investors get from the implementation of this mechanism on Tranchess? Also, what will happen after this rebalance mechanism has finished?
As we all know security is what everyone is always concerned about at first, so while reading about Tranchess this doubt poped on my head, could you clarify it to me please? How secure is Tranchess? Do you have any security methods to protect investors against flash loan attacks/exploits?
I just realized that your official Swap platform works mainly with BTC and ETH pairs, so apart of these tokens Tranchess will add pairs associated with BNB or BUSD? Do you allow the creation of custom pairs voted by the community?
I think that one of the most important things is heard the community voice, so Tranchess cares the opinion of its users to make adjust an offer a better experience?
While reviewing your project, I noticed that you mentioned “providing a high-yield token to risk-averse investors”. As we know, the equation of high risk – high return or low risk – low return always applies and the crypto system is in the most risky market situation. Which techniques will you use to maximize profits by minimizing risks within the framework of these market dynamics? Is there any trial or evidence you have provided so far on this subject?
“Tranchess consists of three coins – QUEEN, BISHOP and ROOK.” Can you tell us why you designed 3 different tokens in your project and the functions of these tokens in your ecosystem and the correlation between them? What would be the most profitable cryptocurrency for your investors? Also, many projects specify a certain amount of tokens in the use of some functions to contribute to the increase in token demand, have you identified similar methods to help increase the demand for your tokens?
Tranchess aims to give the neccesary tools to track a specific underlying asset, from what I saw the “Queen” is your BTC-Tracking token that also has a yield farming feature. I’m not so expert with this features so can you explain the usefulness of this feature and why did you decided to track BTC in first place? Also, what other assets are you interested to add to your protocol in the future and how do you envision the long term permanence of your features?
Trancess is the first of its kind product and it comes with a lot of questions such as: what is the security of the project based on? I saw that they have a bug bounty system, can you tell us what rewards they are offering for those who contribute to the security of Tranchess? Also, what relationship do you have with large security companies such as PeckShield, Certik and Imnunefi?
YIELD FARMING and LIQUIDITY MINING became the most attractive DeFi income tools by investors. How will Tranchess use these tools to attract investors’ attention, offering your users more sustainable APY than other alternatives?
Hacker attacks are very frequent and even more so when it comes to oracles, since they are often very vulnerable. I would like you to tell me about the security measures you take to face such attacks, I have seen that Tranchess has a protocol called TWAP for this, can you explain how it works and what types of attacks it can prevent? Also, is there some other type of protocol or mechanism that can also cope with attacks and provide security?
⚡️Why did you decide to use chess as an analogy to the ecosystem that Tranchess aim to develop? How do you co relate chess and the cryptocurrencies market?
On Tranchess, the only avaliable feature is the Queen, but bishop and Rook are on development, do you have plans to add other pieces of Chess with different use cases, like the king or pawn?
The Create / Redeem feature is designed for long-term crypto asset holders, can you tell us more about this? How can the Create / Redeem function ensure long-term performance? Is it enough to just hold the tokens? With regard to holders who want to generate profits quickly, what option do they have?
Tranchess aims to provide a different risk / return matrix from a single main fund. Do you think that you have currently achieved this goal? Regarding your plans and implementations in Tranchess in the long term, do you have plans to improve the platform in terms of technologies, mechanisms, protocols, benefits and double the profits? What are your long-term plans?
Are you planning to launch NFT for Native Protocol? Recently, many projects like Tranchess Protocol have launched NFT to attract investors, what is your opinion about the NFT industry?
What strategy will you implement to bring non-crypto-natives into your ecosystem? How do you keep a balance between developing the technology and also improving the value of your token?
Defi protocols came to unlock some of the complexities of traditional asset management tools and rebuild them with the efficiency and transparency of Blockchain contracts, with this arrival also came new problems, could you tell us what types of problems the Tranchess team was able to identify and how the Tranchess protocol plans to solve them?
From what I saw on your website you have 3 different types of tokens (QUEEN, BISHOP, and ROOK) and your governance token CHESS. In order to know what kind of investors you are targeting, could you tell us what is the utility of each one; I would also like to know how these 3 tokens are correlated and what is the role of the Chess token?
$CHESS is the key to enter to the governance portal for TRANCHESS users. Users can harvest CHESS by staking Token QUEEN, BISHOP and/or ROOK in the protocal as you have mentioned. What is the minimum $CHESS value needed to eligible in governance right? Is there any mechanism to calculate vating power with $CHESS token? How is your Platform’s governance protocal works exactly?
You have integrated a mechanism called Rebalance to maintain the leverage ratio of Token $ROOK in a stable range. Can you explain how the Rebalance mechanism works in TRANCHESS platform? How will you determine the leverage rate of $ROOK? What will happen after Rebalance activated?
You have deployed four tokens called $QUEEN, $BISHOP, $ROOK & $CHESS. What is the necessity of four token models of TRANCHESS platform? Can you tell us usecases of these tokens? What’s the relationship between QUEEN, BISHOP, ROOK and Tranchess in general? Can I buy Token QUEEN, BISHOP, ROOK & CHESS on some other exchanges?
You mentioned that to address investor concerns about DeFi, Tranchess has developed a first-of-its-kind product to assist investors in maximizing their returns, including impermanent loss, capital inefficiency, and, in some cases, forced liquidation. Could you tell us more about your first-of-its-kind product? What are it’s characteristics, and how do they benefit the Tranchess ecosystem?
The bearish market has hit the pockets of many of us and alternative solutions such as extra yield incomes with BTC sound promising, however many users have no idea how to start making money without risking so much, you can tell us what low risk investment options you have Tranchess? And how has it been possible since the acquisition of the QUEEN token to multiply profits with BTC yield?
I made my research and found that your CTO is experienced with cyber security in centralized crypto exchanges and DeFi protocols, that’s huge! can you tell us how did you bring that experience to the Tranchess building protocol and infrastructure to be the most secure protocol in DeFi?
It caught my attention that all your features can be deployed using a stablecoin: USDC. So, how much USDC does the users need as a base to start using any of your three features? Let’s say I want to invest in Bishop which is USDC based high yielding token, what’s the minimal investment to see some profits in the long run?
On your Primary Market there’s an option to Split and Merge tokens, this is the first time I see a feature like this, can you explain the whole process to to split and merge tokens Queen, Bishop and Rook? Is there a commission to pay everytime a user decides to make a conversion? And is the conversion immediately showed in the wallet balance?
As I know Tranchess is a tokenized asset management and derivatives trading protocol. Do you have any trading features? what is the difference berween Tranchess and a regular trading platform?
Is there a reason why Tranchess needs three tokens into your ecosystem? What is the usecase of $QUEEN $BISHOP and $ROOK each? What’s the relationship between these tokens and Tranchess in general?
Tranchess, in simple terms, is a tokenized structured fund protocol. How do you protect this funds? what are your security measures in order to keep the platform safe? how can new users trust you?
I saw on Twitter your Launch special in which you’re giving out 75% (normally 50%) of protocol income to users who lock Chess during this limited time period. In addition, to generate a larger income pool, you’re increasing Queen’s redemption fee to 0.20 percent beginning July 22nd. Can you raise more awareness about this? When can users lock their Chess to take advantage of this special Launch?
I saw on your Medium that Tranchess has finished its first audit with CertiK and is now finishing its second round of audit with PeckShiel. Why is the need to be audited again and can you tell us why you chose to be audited by PeckShiel for the second time?
What is your Tranchess Token Model? What are the advantages of this model and how can users generate profits from this model?
Tranchess is adopting an order book-based system but with a twist: Rather than trading the live prices of tokens, the exchange allows users to trade premiums or discounts of a forward benchmark price, based on the next 30-minute TWAP (Time Weighted Average Price) fixing and This transaction’s reference price will then be the NAV for the next 30-min window.. so what functions does the NAV price play during trade and how does this twist improve your order book and make it different from the normal order book system used in exchanges, it is also said that this revolutionary mechanism minimizes the potential of oracle attacks.. so how does this mechanism minimise oracle attacks on the exchange…
Seeing your project calls to mind The Game of Chess.My question is,Does Tranchess plans to Integrate NFTs in its platform e.g NFT Chess Game Card or a dapp for playing of Chess?If you do,when do plan on implementing it?And how will it be traded on your platform?
It is stated that Each of the three tokens on tranchess ( QUEEN, BISHOP and ROOK) has two prices: a NAV and an Open Market Price…. what is the significance or importance of having these two prices for each of your tokens, how are the prices different from each other,how are they being implmented and what importance does each of this prices have on each of your tokens.
Going through your article it was stated that Tranchess was developed as a first of its kind product for investors to maximize their returns and to resolve some common issues that DeFi Investors have long encountered such as impermanent loss, capital inefficiency and forced liquidation at times…One of the implemented solutions on Tranchess is that it derives different risk/return matrix out of a single main fund. The main fund tracks a specific underlying asset and can be split equally into 2 sub funds.. so What approach does Tranchess use to resolve the common Defi issues mentioned such as the impermanent loss, capital inefficiency and forced liquidation and how does the implementation of a Signle Main fund and 2 sub funds work on Tranchess, how does Tranchess derive risk/return matrix from the single main fund and how is an asset split into 2 sub funds using the main Fund.
I couldn’t find anything about your roadmap,and i noticed that you have done Audit with high firm,like Certik to ensure users funds are safe.What are your short or long term goals?What other features do you plan to bring into your project that will give investors hope that they are in the right place?Do you also have plans of doing Airdrops of your token to attract potential investors to your platform?
Users can harvest $CHESS by staking $QUEEN, $BISHOP or $ROOK on your platform. What is the reward ratio for each token? Tokens have been named according to the pieces in the chess game. As we all know, Queen has the highest value followed by Rook and Bishop. Similarly, do we get more rewards in $CHESS if we stake $QUEEN? Further, please explain the reason for introducing four tokens rather than creating one token.
While reading your audit reports, I found that there are many issues yet to be solved. According to the PeckShield report, there are six issues of Tranchess, four with medium risk and two with low risk. Further, seven issues to be resolved according to the CertiK report. Not only conducting audits, but also resolving issues is important. Did you pay attention to the reports? When are you going to resolve the problems? Until resolving these issues, how do you assure the security of Tranchess?
Every team should have clear goals and a proper future plan for their project. However, I could not find your roadmap on the website, in the whitepaper or on any social media platforms. What are your plans for this quarter? Where do you see yourself in the next five or ten years? Please explain about the milestones you have already achieved and your future endeavors.
What function do ROOK and BISHOP tokens serve in derivatives and swap transactions, and how will these ROOK and BISHOP holders claim their CHESS token as a bonus? And also what are the benefits of having and holding CHESS token?
“Tranchess is now in Protected Launch with new features coming every few days,” according to your Medium blog. Please elaborate on the protected launch you mentioned and can you tell us how it will help Tranchess platform?
I noticed that BISHOP holders can earn interest from ROOK holders. May I ask if only USDC lenders to ROOK hodlers are qualified for this interest, and how will this work? Could you elaborate more?
Hello
with no more BTCB deposit Cap on Tranchess, how will this laudable revolution in trading investment on Tranchess tends to guarantee more investment without being skeptic of losing you their investment in view of the fact BTCB deposit Cap serves as a guarantee of liquidity? Are there any alternative innovations that will be used to ensure guaranteed liquidity?
Upon any intention to exit, investors can simply swap their token Queen back to BTC via the redemption process; Is there any limit amount of token needed before a redemption request can granted ? How much percentage of the redeemed asset is charged as fee? Can you a detailed procedure on how to go about the token swap redemption?
Tranchess have 4 different coins which are $QUEEN, $BISHOP, $ROOK and $CHESS. What was the reason of creating 4 different coins instead of giving all duties to 1 coin? Wouldn’t it be easier for users only 1 coin? and I als would like to know, which strategies will you follow to increase your token value?
When I visited the website of Tranchess I really looked for some NFTs but I could not see any. I guess it will be cool if there are some chess pawn NFTs in Tranchess. Since NFTs are still a very recent hype, do you plan to implement NFT to Tranchess project?
♟Hi TranChess!♟
I am impressed by TranChess’s attention to security, security is extremely important in DeFi! You performed audits with two major auditors: Certik and PeckShield! Moreover I see you are also running a bug hunting program with Immunefy, so awesome! In your experience, which approach leads to better results – 3d party audit or open bug hunting? Can you share if there were any issues found during those audits rounds and/or bug hunting, any critical bugs found? Have you had to delay the release or redeploy the smart contract to fix critical issues?
Thank you!
Tranchess is currently backed by Binance Labs and this is something very important for especially new projects. How did you convince Binance Labs to be one of your investors? What unique feature did you offer them?
♟Hi TranChess!♟
While Bitcoin is one of the least volatile cryptocurrencies, it is still much more volatile than stablecoins. How do you manage to guarantee Queen swap slippage, as I understand the conversion period of $BTC to Queen takes substantial time? Will the transaction revert given enough $BTC spot volatility which will result in a loss of fees and opportunity? Could you tell us the average transaction finalization time for redeeming Queen from $BTC?
Thank you!
♟Hi TranChess!♟
I’d like to learn more about Tranche’s ROOK token functionality. I read that it is a leveraged product but without a forced liquidation! ROOK holders borrow from BISHOP holders to buy the main fund that tracks BTC. Naturally ROOK holders receive all gains and losses of the main fund, plus they pay the interest to BISHOP holders. It is not clear how ROOK does not run the risk of forced liquidation, all leveraged products I saw on the market do. What happens when collateral is not enough to cover the borrowed assets?
Thank you!
Tranchess has built 4 tokens namely QUEEN, BISHOP, ROOK and CHESS as governance token. Why you have decided to develop an ecosystem with multiple tokens rather than developing a single token with all of the features you desire? And since Tranchess tokens are designed with all kinds of users depending on the risk tolerance, could you please specify which ones you would suggest for a user that are conservative type and as well for an aggressive types?
I read, instead of passively owning BTC, owners can now trade their BTC for QUEEN tokens via the “creation process” or purchase from “Exchange” with USDC.” Is it preferable to only have passive $BTC than to exchange it for token QUEEN? Will the costs of gas outweigh any benefits of generating a token Queen?
What is the relationship between these three tokens; QUEEN, BISHOP and ROOK? Could you tell us more about the services they offer on the tranchess platform? Are the QUEEN, BISHOP, and ROOK tokens available for purchase on CEX or DEX?
I’m not particularly skilled at chess, but that doesn’t mean I wouldn’t like to learn. So, does Tranchess intend to develop its own program that teaches the concept of chess as a game as well as a necessity? If not, how would you promote the value of chess in other ways?
It is stated that Tranchess is for all types of people, depending on their risk appetite. Could you kindly explain which ones you would recommend for a conservative individual and which ones you would recommend for someone who is more aggressive?