ChessCHESS

企業情報(CHESS)

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FAQ About CHESS

• What is Tranchess?

  Tranchess is an innovative cryptocurrency protocol designed to offer a diverse risk/return matrix through a single main fund that tracks an underlying asset, such as Bitcoin (BTC). The protocol features three distinct tranche tokens: QUEEN, BISHOP, and ROOK, each tailored to meet different user needs. QUEEN is focused on tracking BTC while offering yield farming opportunities. BISHOP provides stable returns with minimal risk. ROOK offers leveraged exposure to the BTC-tracking main fund, aiming to amplify potential gains.
  Additionally, Tranchess incorporates a governance token, CHESS, which plays a pivotal role in the protocol’s ecosystem. CHESS enables holders to participate in decision-making processes and contributes to the overall governance of the Tranchess platform.

• How to buy CHESS

  To buy CHESS, you can follow these general steps:
  
  1. Choose a cryptocurrency exchange and Create an Account
  Start by selecting a reputable and reliable cryptocurrency platform that supports CHESS trading. You can also buy CHESS here on Toobit. Sign up.
  
  2. Complete Verification (Not Mandatory):
  Read our How to Complete Identification on Toobit guide for more information.
  
  3. Deposit Funds:
  Deposit funds into your Toobit account. This could be done via credit/debit cards, or your crypto wallet.
  
  4. Navigate to CHESS:
  Once your account is funded, navigate to the Markets section of the platform.
  
  5. Buy CHESS:
  Locate CHESS in the list of available cryptocurrencies.
  Place a buy order. Read our How to Buy Crypto on Toobit guide for more information.

• How to Sell CHESS?

  You can sell CHESS to USDT here on Toobit. Read our guide on How to Trade Spot on Toobit for more information.

• What is CHESS price Now?

  Are you looking for CHESS Price? Live CHESS price is updated in real-time on Toobit.

• How to Withdraw CHESS on Toobit?

  You can withdraw CHESS and other crypto tokens into USDT here on Toobit. Read our How to Withdraw Crypto on Toobitguide for more information.

• How does Tranchess work?

  Tranchess utilizes smart contracts to ensure transparency and automation throughout its processes. The protocol allows users to track Bitcoin (BTC) and offers multiple ways to earn rewards. Users can lend out their tokens for additional compensation, benefit from leverage without the risk of forced liquidation, and receive a share of platform rewards through staking.
  Tranchess employs a distinctive trading mechanism known as the Premium-Discount Orderbook system. This system enables users to trade based on the premiums or discounts of a forward-starting 30-minute Time Weighted Average Price (TWAP), rather than relying on live token prices. This innovative approach enhances trading efficiency and provides users with more strategic trading options.

• What are the potential use cases for Tranchess?

  Tranchess is designed to accommodate diverse user preferences and risk appetites within the cryptocurrency market. For those seeking stable returns, the BISHOP token offers a reliable option. Investors interested in leveraged crypto asset trading can utilize the ROOK token. The QUEEN token is tailored for long-term Bitcoin (BTC) holders, providing BTC tracking with added yield farming benefits.
  Additionally, the CHESS token empowers users to participate in the governance of the Tranchess protocol. CHESS holders have a say in key decisions regarding the future direction and development of the protocol, ensuring a decentralized and community-driven approach to protocol management.

• What is the history of Tranchess?

  Tranchess was established in 2020 by co-founder Danny Chong and his team, who bring extensive experience from technology companies and investment banks. The team’s vision is to empower users within the Decentralized Finance (DeFi) space by offering advanced Omni Asset Management capabilities and facilitating the shift from Traditional Finance to DeFi.
  The Tranchess protocol was created to address key challenges in the DeFi asset management sector. It aims to provide flexible and convenient primary market redemption, enhance secondary market trading with high liquidity, and offer stable, improved returns. This innovative approach seeks to resolve common pain points and improve the overall asset management experience in the DeFi market.

• Tranchess Price Prediction Indicators

  Moving averages are essential tools for predicting the price of CHESS within the Tranchess protocol. These indicators calculate the average closing price of CHESS over a specified time frame, divided into equal intervals. For example, a 12-day simple moving average (SMA) of CHESS is derived by summing the closing prices of CHESS over the past 12 days and dividing by 12.
  Traders also use the exponential moving average (EMA), which gives more weight to recent prices, making it more responsive to current market conditions compared to the SMA.
  Commonly used moving averages in the crypto market include the 50-day, 100-day, and 200-day averages. These indicators help identify crucial support and resistance levels. If the CHESS price rises above these moving averages, it is often interpreted as a bullish signal for Tranchess. Conversely, a price drop below these averages may indicate market weakness.
  Additionally, traders utilize other technical indicators, such as the Relative Strength Index (RSI) and Fibonacci retracement levels, to forecast future CHESS price movements and refine their trading strategies.

• How to read Tranchess charts and predict price movements?

  Candlestick charts are a popular tool among traders because they offer more detailed information than simple line charts. These charts display price action for Tranchess with various levels of granularity. For instance, a 5-minute candlestick chart provides insights into very short-term price movements, while a weekly candlestick chart helps identify long-term trends. Among the most commonly used charts are the 1-hour, 4-hour, and 1-day candlestick charts.
  For example, a 1-hour candlestick chart shows Tranchess price action in 1-hour intervals. Each candlestick on the chart represents the opening price, closing price, highest price, and lowest price of CHESS within that hour.
  The color of each candlestick is crucial: a green candlestick indicates that the closing price was higher than the opening price, signaling a bullish trend, while a red candlestick shows that the closing price was lower than the opening price, indicating a bearish trend. Some charts use hollow and filled candlestick bodies instead of colors to convey the same information.

• What affects the price of Tranchess?

  The price action of Tranchess (CHESS), like any other asset, is primarily driven by supply and demand dynamics. These factors can be impacted by fundamental events such as block reward halvings, protocol updates, and hard forks. Additionally, regulatory changes, adoption by institutions and governments, cryptocurrency exchange hacks, and other real-world occurrences can significantly influence the price of CHESS. Consequently, Tranchess’s market capitalization can experience substantial fluctuations over short periods.
  When forecasting the price of Tranchess, traders often monitor the activities of ""whales""—large holders of CHESS who can exert considerable influence on the market. Given the relatively small size of the Tranchess market compared to traditional financial markets, the actions of these whales can significantly affect CHESS’s price movements.