During the governance proposal on PancakeSwap to upgrade the $CAKE token model, and with CZ publicly stating that buybacks and burns may be a more direct way to influence token prices, the long-established BNB chain protocol @Tranchess has announced that it will buy back 10% of the $CHESS total market value tokens within the next six months.
10% Total Market Value Tokens
According to the official team’s financial report released on 3/22, as of 2/26 this year, the market value was approximately $21.35M, which means the buyback plan will reduce at least $2M of tokens.
However, when I checked the market value and supply of tokens, I found discrepancies between the information shown on the Binance app and that on CoinMarketCap and CoinGecko. This may require attention for those who are used to checking information through trading platforms?
*Due to the price of CHESS dropping by half since 2/26, the cost of the 10% buyback has been reduced to around $1M.
What is the value of CHESS? What returns can be earned by staking CHESS?
After locking CHESS on the platform, you will receive veCHESS, which grants you the right to share in the protocol's income.
According to financial reports, Tranchess's annual fee income is approximately $450K-$500K. In a more intuitive way, you can check the real-time APY and Rebate Pool on the Tranchess dApp to understand the returns from locked assets.
Additionally, you can estimate returns through the Yield Simulator and check the protocol income via the Fact Sheet (you love transparency, right?).
*Locking CHESS also provides opportunities to receive reward tokens issued to Tranchess by cooperative protocols, such as $SOLV
What are the earning opportunities on the platform?
Currently, the Tranchess platform offers fund products for three cooperative protocols:
Bedrock's uniBTC, brBTC
Aster's asBNB
Users can earn high multipliers on points acquisition rates from the turbo positions in the fund. This is my favorite way to participate!
If you are not particularly interested in airdrop points, you might want to explore other opportunities in the fund products, such as the current yield of asBNB LP, which is approximately 23.9%~52.7%, or obtaining stable returns through stable positions.
Summary
Tranchess is a protocol I have trusted since the last cycle (2021) and I have great confidence in its team capabilities.
Past funds launched included Bedrock, Lista, Solv, Scroll, StakeStone. Through Tranchess's fund products, users can accumulate points at a relatively high speed to surpass most airdroppers.
The latest fund from Aster has garnered multiple attentions and comments from BNB and CZ. My tests show that the ranking is rising quickly, indicating fewer participants and less competition, which provides better opportunities for airdrop gains. (If interested, you can check my brief introduction to Aster during the Megadrop event. I will find time to share more information about Aster later.)
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※The above content does not constitute investment advice (NFA). Users should operate according to their own risk tolerance. DYOR and participate in the investment market cautiously.
※Aster Code: 3ac570
※Attached image sourced from Tranchess, CoinMarketCap
