jakiro
Foreword
The turbulence of the encryption market has never stopped, and the DEFI field has also moved forward in this turbulent.The expectations of interest rate cuts in the global economy are quietly changing investors’ risk preferences and income demands.
Facing the increasingly dry environment in the market, the discussion of DEFI’s discussion has reappeared again. After a round of the Defi project of the evolution of a complete round of beef and bear, the DEFI projects are no longer satisfied with the simple copy of the traditional financial model.Meet market demand.
From MakerDao’s brand to the emergence of various novel revenue strategies, the entire ecosystem is undergoing a deep transformation.At the same time, Binance, an industry giant, is actively asking for changes.The MEME boom set off on BNB Chain, as well as high -frequency in the ecological project … This series of actions are passing positive signals to the market.
In the tide of cloudy turbulence, the OG DEFI protocol of the BSC ecologyTranschWith its unique structured fund architecture, it stands out of the same track products. By cleverly combining the concept of structured funds with DEFI innovation, it provides investors with a unique DEFI experience.With the changes in market demand environment, Transches has continuously promoted product iterations and combined with multiple projects to match market demand.
This article will deeply explore the multiple innovations of Transches, and analyze how Transches has opened up a unique income in the current market environment with its inherent advantages and mechanism innovation.Whether you are a veteran of Defi or a newcomer who just stepped into this field, I believe this article can provide you with some new insights.
Why DEFI?
Faced with a wide variety of encrypted ecology, not only external users, even the old encrypted players will have some thinking: so many new ideas are constantly emerging, why is DEFI still worthy of attention?
Andre Cronje’s recent article“Why is DEFI is the key to the future?”It provides some related insights.
The article pointed out that DEFI is essentially a bearing place for liquidity hubs and transaction demand. In each chain ecology, DEFI plays an indispensable role, providing the necessary liquidity support for the market, and satisfying the simple ones from simple ones.The tokens are exchanged to diversified financial needs such as complex derivatives transactions.
AC mentioned: “Anyone who is willing to try can participate, this is an important cornerstone of economic growth.” Defi’s openness and combined characteristics make it an ideal test field for financial innovation. Whether it is a bull market or a bear market, Defi is both.The core engine of maintaining ecological vitality.
Transches, traversing the beef and bear’s DEFI chess chess
Transches was born in the Defi wave in 2021. At that time, it coincided with the bull market peak in the crypto market.However, Tranches not only shows strong vitality in the long cycle, but also injects new vitality into itself through continuous iterative innovation mechanisms, fully showing its deep strength as “old OG”.
According to Defillama’s latest data, as of September 2024, the TVL of Transches on BNB Chain reached US $ 183 million, an increase of nearly 500%during the year.
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Professional team
Transches is still energetic through the deep bear, and has an inseparable relationship with its professional team strength.Transches is composed of a team with rich blockchain and financial professional background.The members of the core team have rich traditional financial experience including investment banking, asset management and hedge funds.
Among them, CO-Founder Danny Chong graduated from Nanyang University of Technology and has more than ten years of banking experience, including transactions, sales and management in the Asia-Pacific region.
The technical team also has good experience in the network security of centralized exchanges and DEFI agreements. The team members come from technology giants such as Google, Meta and Microsoft.
Defi protocol that was born of the concept of “transches”
The birth of transches is inspired by the concept of “transches” (grading) in traditional finance, and the agreement innovatively provides a graded and multi -structured asset investment plan for investors with different risk preferences.
Transches provides two categories of core services:
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Liquid pledged service: Transches’ liquidity pledge service is mainly represented by BNB Chain’s pledged token NQUNEE and Ethereum main network.Taking QETH as an example, users can pledge ETH pledged QETH on Ethereum main network.While enjoying the internal pledge income of the agreement, QETH can also be used as a mortgage for external DEFI protocols to improve capital efficiency.
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Hierarchical repayment product: TranchesS also provides a diverse risk-return solution based on the main fund Queen. The QUEEN is divided into two derivative token of Bishop and ROOK according to different risk returns to meet the needs of investors in different risk preferences.Today, Tranches has further optimized the product structure and upgraded it to a more flexible Turbo & Amp; Stable architecture.
Chessless, from structural funds to Turbo & amp; Stable
From the grading mode to the Turbo & amp; Stable, the iteration of transchesus is just like a wonderful chess game. Each step is a precise response to market changes.
Structural fund with a starting, classified response
Structural design is the core innovation of the Tranches design concept.It is to split a single asset into derivatives with different risk levels.This structure allows investors to choose the right investment strategy based on their own risk preferences.Specifically, Transches is divided into three levels:
Main Fund token Queen
Queen is a basic asset and links with the underlying encryption assets 1: 1.As a major fund unit in the entire structure, users can directly hold Queen to obtain a complete exposure to underlying assets.Queen can be cast, redemption, and split into Bishop and ROOK.The source of returns of Queen includes the price change of underlying assets, pledge rewards (if underlying assets support pledge), and assignment of agreement revenue.
Taking BTC as an example, Queen holders can not only enjoy the benefits brought by the price changes of Bitcoin, but also make additional check to token rewards by pledge.Investors can directly use BTC to exchange Queen or buy USDC in the Transm Swap.
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Derivative token: Bishop and ROOK
Two derivative token Bishop and ROOK divided by Queen represent different risks and income characteristics.
Bishop is a fixed income token with low risk and provides stable income, similar to fixed income products.The source of their income is a fixed queen yield, which is regularly adjusted by the agreement according to market conditions.Bishop provides a relatively stable return when market fluctuations, suitable for risk -dislike investors.
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ROOK is a leveraged tokens, with high risks, providing leveraged income, and is more sensitive to changes in underlying asset prices.ROOK’s income comes from all the remaining income of Queen (that is, the total income minus the part paid to the Bishop).When the market rises, ROOK can get excess returns, but also faces greater downward risks.
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Structural fund design allows investors to flexibly adjust their positions according to their own risk preferences.Investors can be converted between Queen, Bishop and ROOK at any time to achieve personalized risk management strategies.For example, when the market is expected to rise, it can increase ROOK to obtain higher returns; when the market is expected to fall, it can increase the holdings of Bishop to obtain a stable return.
Flexible hierarchical architecture allows Transches to expand to more encrypted assets in the future to provide investors with wider market participation opportunities.Whether it is BTC, ETH, or BNB, Transches has potential to create corresponding structured products for them, thereby meeting the needs of different investors.
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Turbo & amp; Stable, tactical innovation in the chess game
With the concept of “Turbo & Amp; Stable” with the concept of “Turbo & Amp; Stable” with the TRANCHESS pledge of the ETH main network.
Turbo & amp; Stable mode is essentially a segmentation of structural funds. Turbo and Stable concepts can also be understood as enhanced products of ROOK and Bishop.
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Turbo (enhanced ROOK): high leverage, high -yield offensive weapon
Just like the unprecedented car in the chess game, Turbo products provide higher leverage and potential income, suitable for those investors who are willing to bear higher risks.It is like a bold attack in the chess game, which may bring significant benefits, but also facing greater risks.
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Stable
Similar to the flexible phenomenon (Bishop), Stable products provide more stable benefits and become the core of defense in the investment portfolio.It provides ideal choices for those investors who seek stable returns and low -risk preferences, just like building a solid line of defense in the chess game.
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Detailed explanation of Turbo & amp; Stable, take Stakestone’s Stone fund as an example
The concept of just chatting is inevitably abstract. We use Turbo & Amp; Stable products in collaboration with TRANCHESS and StakestoneStone fundFor example, introduce how this architecture works.
Turn into simplification, the two tokens are flexibly split
StoneThe core of the fund lies in the tokens split mechanism based on Turbo & amp; Stable architecture.Users can convert Stone at a ratio of 1: 1 to Stonequeen, and each Stonequeen can be split to 0.1 Turpstone (Turbo Point Stone) and 0.9 Stable Yield Stone.At the same time, this process is reversible. Users can merge 0.1 TurpStone and 0.9 StayStone back to 1 Stonequeen.
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StayStone-StoneLPDiversity
Tranches also introduced the StayStone-Stone LP token to provide additional income opportunities for ecological users.
These LP token holders can not only get CHESS tokens and 0.05% transaction fee rewards, but also enjoy the interest of some StayStone and 2 times the StakeStone points multiplication (for the Stone part of LP).In addition, there is Tranches that provides additional rewards of 150,000 CHESS per week for the LP of the Stone Fund.
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Different points rewards and income structures
The total pledge cycle of Tranches Stone Fund is 6 months and will end on October 8, 2024.At that time, different types of tokens can be returned to Stone according to their fair value. At the same time, Tranches that allows Stone holders on Scroll while earning Scroll Marks points while earning Stakestone points.
Stonequeen can be exchanged with Stone 1: 1, and Stakestone points that can obtain and hold the same multiple of the equal number of Stakes are held.However, splitting Stonequeen into STAYSTONE and TurpStone and holding them at the same time can obtain 2 times the points multiplication without damage, and at the same time, obtain the Scroll Marks points based on holding value.
TurpStone not only has a fixed leverage of 10 times, but also obtains 2 times the points of Stakestone, that is, you can finally get 20 times StakeStone points.Remove the cost of paying a fixed interest rate to StayStone at the end. When the fund expires, Turpstone: Stone <1
StayStone provides 6% fixed annual interest for investors who pursue stable income, but there is no StakeStone points award, and the Scroll Marks points are obtained based on holding value.When the fund expires, StayStone: Stone ＞ 1
In addition, transches from the points obtained from Turbo & Amp; Stable fund products, which will charge 3% of the cost as an additional income100% sent to veches holder, Improve the yield of veches holder.
PS: The exchange ratio of TurpStone, STAYSTONE and Stone in the text is roughly calculated, and the exact ratio will be announced at the end of the exact fair value to the end of the fund.
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It’s so fast and fast, the precision architecture that can be quickly copied
Not only is it limited to the Stone Fund, the currently launched Turbo & Amp; Stable products include the Weeth Fund launched with ETH.FI, Staked ETH Fund in cooperation with Lido, Slvbtc, Solvbtc in cooperation with SOLV, and SLISBNB in cooperation with Lista DAO with Solv, and the recent launching onlineSolvbtc.bbn fund.
Not only can provide a variety of benefits, Turbo & Amp; Stable supports any LST narrative chain to be new quickly, but also can flexibly cooperate with the revenue changes of the corresponding assets.It is also the LRT with the most BABYLON points.As another part of user income, this advantage will also be retained in the structure of Turbo & Amp; Stable, which fully reflects the flexible characteristics of this precision architecture “good and fast”.
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Key chess of transches: chess & amp; vest
Recently, CHESS, which launched the Binance contract, attracted again.As a TRANCHESS’s governance currency, Chess and Veches are not only the key link connecting the entire Transmission system, but also growing together with the project itself.
Treatment of tokens CHESS
The total supply of Chess is 300 million pieces. In addition to buying directly, users can also obtain Chess in various ways, mainly including participating in liquidity mining or pledge of Queen, Bishop, and ROOK tokens to get Chess.
After the locking of the lock -up to VECHESS, Chess can unlock the diverse use cases in the ecosystem: Veches has voting, weekly protocol dividends, 3% turbo & amp; stable points income and other governance rights.
In addition to liquidity and governance functions, Chess currently supports BNB Chain, Ethereum, and Scroll three -chain cross -chain.
The lock -up transformation, VechesS starts!
Lock chess exchange
Users can choose to lock the CHESS for 1 week -4 years, and the exchange ratio is also based on lock -up timing growth. The specific number of VECHESS quantity calculation is the number of CHESS multiplied by the lock time (in the year).
For example, 100 CHESS locks up to 100 vechesins for 4 years, while 100 CHESS locks 50 VECHESS for 2 years.At the same time, the number of VECHESS will decrease over time, but users can increase the VECHESS balance by increasing the lock -up time or number.
Transches also supports a batch locking Chess, and each lock will create a new locking position.For the convenience of management, users can merge multiple locking positions into one.
Extra -income of layers after layer
In addition to the return of Turbo & AMP; Stable fund products at the above 3% points income, VEChes holders will also receive 50% of the weekly income of the Transmission platform as an additional pledge reward, and the other 50% of the income enters Treasury.
Continuously enrich the rights and interests of governance
Users holding VECHESS can participate in various important decisions of the Tranchess platform. The voting weight is proportional to the number of VECHESS held by holding, ensuring that users who have long -term promised platforms can have greater right to speak in the process of decision -making.
Recently, the governance proposal passed by the TranchesSS community 9 proposes the decisive layer of VECHESS’s voting governance rights to all new Turbo & Amp; Stable projects.This proposal further expands more cases of VECHESS while showing the future potential where Turbo & Amp; Stable architecture can quickly copy.
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Value depression under hotspots?
With the deepening of the TRANCHESS ecological exploration, it can be seen that Chess is not only a simple governance tokens, but also the core value carrier in the Tranches ecosystem.
The VECHESS obtained by Chess locks not only can bring a generous income division, but also gives the holder to participate in the power of major decisions of the platform.The blessing of dual attributes makes CHESS a very attractive value storage and value -added tool.
As the platform TVL continues to grow, the official launch of perpetual contracts, coupled with several Turbo & Amp; Stable fund products are about to expire, Chess is likely to be in a value point.Knowing that the real potential value of Chess is not limited to the market’s speculation expectations of the market for the DEFI sector and the short -term “lottery mentality” such as a single -generation currency, but a long -term and valuable product income.
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Pure new can be won by the sky
From structural funds to Turbo & amp; Stable architecture, the old -fashioned player Tranches has always maintained excellent and flexibility in the competitive Defi track. While ensuring the diverse benefits of users, it provides more solutions for the ecology, and implements the real Defi Native style style.Essence
The development trajectory of TranchesS proves that only by pushing out the new and always maintaining a key “half -child” advantage can we be invincible in the encryption game.
