$CHESS is the governance and utility token of the Tranchess protocol, a structured asset manager that offers different risk and return profiles for cryptocurrency users. Tranchess aims to replicate the returns of an underlying asset (such as BTC or ETH) by dividing it into three different tokens: Queen, Rook, and Bishop.

* Queen is a "neutral" stake that follows the price of the underlying asset.

* Rook is a leveraged stake with higher risk and potential reward.

* Bishop is a fixed yield stake with lower risk.

The token $CHESS is used for voting on governance proposals within the Tranchess ecosystem, allowing holders to influence the development and direction of the protocol. In addition to governance, $CHESS can also be used for staking, enabling users to earn rewards from the fees generated by the platform. Tranchess is distinguished by its focus on risk diversification and performance optimization through these "tranches" or divisions of assets, providing a flexible solution for different investment strategies.