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Tranchess: a tokenized structured fund protocol

February 10, 2022, 2:28PM EST • 6 min read Quick Take Each Tranchess fund has three tokenized tranches with different risk exposure. The BISHOP tranche enables risk-averse investors to earn passive yield without price risks, whereas the ROOK tranche provides liquidation-free leveraged exposure to risk-seeking speculators. CHESS, the native token of Tranchess, is used to incentivize user adoption and is by far the main driver of protocol usage. Join The Block Research for exclusive research like this Gain access to …