00:00Welcome back to Decentralized News. In today's video, we're looking at Tranchess, which is a project that has a token ticker CHESS.
00:08C-H-E-S-S. You can find token traded on BingX, Femex, Gate.io, Binance and other cryptocurrency exchanges for the best cryptocurrency platform reviews.
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00:33So what is Tranchess protocol or CHESS token? It's described as a yield enhancing asset tracker with a varied risk return solution.
00:43So Tranchess provides a different risk return matrix out of a single main fund that tracks a specific underlying asset.
00:51The name Tranchess itself was inspired by the game of chess, as well as the word tranche, which is a French word often associated with tranche funds that caters to a different class of investors with varying risk appetites.
01:05So Tranchess was launched back in June 2021.
01:09The main fund, a.k.a. Token Queen, tracks a specific underlying asset that can be split equally in two sort of two sub funds.
01:22We have sort of what they have set up more of a BTC or purposefully chosen BTC as the first crypto asset, obviously, to track since it is the main asset out there in the crypto markets.
01:35It also shares some of the popular DeFi features, such as a single yield farming, borrowing, lending and trading as well.
01:42So what Tranchess actually provides, in essence, is are you looking at enhanced yield returns without incurring impermanent losses?
01:50So that's one of the advantages.
01:51Also, leveraged positions are put up at low cost with no forced liquidations and there's zero locking periods for Queen holders as well.
02:00For prevention of Oracle attacks using TWAP, which is a time weighted average price.
02:06And yeah, so this team is quite interesting.
02:08You know, some of the founders came to have worked for Google, Facebook, Microsoft and investment banks such as Morgan Stanley, UBS and BNP Paribus.
02:18So, you know, kind of showing that they have this tech and also this banking and the financial product background.
02:27And what makes the project unique, according to the team, is that they say that the project's running proposition leverages smart contracts that makes it apparent or transparent rather and automates processes as well.
02:38So the protocol allows users to have enhanced earnings while tracking BTC, earns extra interest by lending out their tokens and also enjoys leverage with no forced liquidations.
02:50And users can also get a share of the platform earnings by taking part of the staking returns.
02:57And Tranchess ecosystem also allows gains from both NAV and yield perspectives.
03:03So it is secured by smart contracts that do not rely on price feeds or other smart contracts.
03:09Thus, they are highly resistant to price manipulation or flash-null attacks.
03:14And they say that, you know, the price Oracle uses a 30-minute TWAP instead of a discrete price Oracle price.
03:21And this minimizes the possibility of Oracle manipulation attacks.
03:26And Tranchess Oracle also extends the Open Oracle standard by compound, accepts also signed price data from two separate sources, Coinbase and OKEx, and also computes a time-weighted average price every 13 minutes.
03:41So other security measures include multiple rounds of code audits by PeckShield and Cedic Bank Bounty, by Immunify, and multiple signature settings as well.
03:51So, yeah, you know, they are about a max of 300 million tokens in supply, currently trading at about 29 cents.
03:58You know, you can find it on all of those exchanges.
04:01So major listings, Binance, MEXC, BingX, Femex, K and I'll go to Decentralized Juice.
04:06Check out the link to our ecosystems tab in the description.
04:09Go to the best crypto currency exchanges that we recommend.
04:12And also, don't forget to check out the links in the description to my books, Tokenized Trillions, Blockchain Applied.
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04:29I will be seeing you guys in the next one.
04:30Suggest any other content you'd like to see on this channel.
04:33But for Trunches, go to Trunches.com and inhale or yield-enhancing asset tracker with varied risk-return solutions for next time.
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