$CHESS may seem uneventful, but considering the project's characteristics, there are several points worth noting:
This project is a tiered fund, which simply means dividing a fund into products of different risk levels. Recently, with the increased volatility of BTC/ETH, such structured products have become more popular. From the page introduction, they started this in 2020, making them a well-established DeFi project.
Key points:
Small scale: The total market value is only 12.8 million USD, and a little influx of funds can push it forward.
Actual use: The CHESS token is used to vote on key parameters such as fund fee rates.
Buyback mechanism: A portion of the profits earned by the protocol will be used to buy back CHESS.
Yesterday morning, I took some fans to make a short-term long bet at around 0.083, doubled it and sold, the increase wasn't very significant, as such coins can crash in an instant, so it's better to be cautious.
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