Binance Lists Tranchess, 4th Billion Dollar Protocol on Binance Smart Chain

Tranchess has quietly been going about its business garnering recognition and earning a much anticipated Binance listing.

By
Dardania Havolli
on
October 25, 2021
Category:
BSC News

Tranchess Buoyed by Binance Anouncement

Binance has announced it will officially list Tranchess (CHESS) in its Innovation Zone. The move usually helps boost a protocol that has a unique and valuable approach. 

Users can now trade CHESS/BNB, CHESS/BTC, CHESS/USDT, and CHESS/BUSD pairings once the listings were implemented on October 22nd. The Co-Founder of Tranchess, Danny Chong, took to Twitter to celebrate the momentous occassion.

“And Tranchess is listed! Thanks #Binance, #BSC, Investors and #Tranchess Community for the tremendous support. Our plans are for the long term and this is just the beginning,” said Chong. “More features are on the way. Work continued 24/7 for the team to finish up short term deliveries."

Source

The move is a testament to the solid progress the team have been making, but they will be all too wary of how quickly this progress can vanish. Tranchess has maneuvered well across the DeFi gameboard, recently becoming the fourth protocol with on Binance to reach over a billion dollars in Total Volume Locked.

Recent Scare on Tranchess

The team communicated that a DDoS attack had taken place on October 22nd but that they’d managed to quell initial fears through securing relevant funds. 

“We're currently under a DDoS attack targeting our website service. You may experience intermittent web service. We are fixing this and adding preventative measures to prevent future disruption,” the team tweeted, before notifying followers that all funds were indeed fine. “All our smart contracts are on-chain and independent of this. All funds are safu.”

This came only days after communication explaining the project had been targeted through an attempt to trick its users by using Google Sponsored Ads. All of this considered, the team knows that with greater success comes greater risk of being targeted. 

Both users and the team will be looking to make sure they keep growing uninhibited, and BSC News will be here to follow developments as they follow. 

About Tranchess

Tranchess is a yield enhancing asset tracker protocol with varied risk-return solutions. Tranchess explains its facets were first put together in early 2020 and it was developed quickly into its current state. Inspired by tranche funds’ ability to satisfy users’ varying risk appetites, Tranchess aims to provide a different risk/return matrix out of a single main fund that tracks a specific underlying asset (e.g. BTC).

Tranchess states its vision is to empower users of DeFi with asset allocation flexibilities. They hope to be a long term solution for long term holders of crypto assets. 

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Dardania Havolli

Dardania is an experienced researcher, editor and writer who is currently completing his PhD in Creative Writing. He is passionate about blockchain technology and the impact it will go on to have on our lives. He holds bags mostly in BNB, SOL and IOTX.

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