Tranchess offers more unique options. In addition to QUEEN, Tranchess has BISHOP and ROOK tokens. The QUEEN token can be split into BISHOP and ROOK.
BISHOP is akin to the BUSD stablecoin, allowing people to earn interest. The interest rate changes weekly based on governance voting and the 7-day averaged BUSD interest rate from Venus. Investors who prefer not to have exposure to risky assets like BTC, ETH, or BNB can buy BISHOP and earn interest from it.
The second token, ROOK, facilitates creating a 2x leverage position without the risk of liquidation. ROOK holders have exposure to underlying assets with leverage and borrow funds from BISHOP holders, paying them interest.
Initially, BISHOP and ROOK are split on a 1:1 ratio. However, as the price of underlying assets changes, rebalancing is necessary. Rebalancing is triggered when the Fair value of ROOK / Fair value of BISHOP is below 0.5 or above 2. Show Less
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