February 10, 2022, 2:28PM EST
• 6 min read
- 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.