A relatively new low market capitalization in the crypto market. altcoin, global crypto exchange BinanceAfter receiving support from , it began to rise rapidly towards the stratosphere.
Tranchess’ governance token, CHESS, has officially started trading on Binance today. The announcement that the cryptocurrency was listed triggered a 185 percent increase in the price of the asset from $2.77 to $7.91. The altcoin’s price has since stabilized and is changing hands at $5 at the time of writing.
CHESS, users; It is listed on Binance’s Innovation Zone, a dedicated trading space where they can buy and sell newer tokens that are likely to have higher volatility and pose higher risk to traders.
A tokenized asset management and derivatives trading protocol inspired by tranche funds that appeals to different classes of investors with different risk appetites. Tranchess (CHESS), It is also defined by Binance Research as follows:
“Tranchess is a return-enhancing asset tracker with a variety of risk-return solutions on the Binance Smart Chain (BSC), which consists of 3 tranche tokens (QUEEN, BISHOP and ROOK) and the governance token CHESS.
The platform offers various features including DEX (Tranchess Swap), money markets (Primary Market), staking and network management.”
Tranchess has also recently raised $1.5 million from Binance Labs, Three Arrows Capital, and other crypto startups.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.