CHESS
CHESS token and its tokenomics.
CHESS is the governance token of the Tranchess community.

# How do I earn CHESS?

You can harvest CHESS by staking Token QUEEN, BISHOP, and/or ROOK in the protocol. To find out more about how to stake your tokens, please check out our How to Guides.

# What is the total supply of CHESS tokens?

The total supply of CHESS tokens is 300M.

# What is the CHESS token's contract address?

0x20de22029ab63cf9A7Cf5fEB2b737Ca1eE4c82A6

# What is the token allocation of total supply?

Token Allocation of CHESS

# How long is the vesting schedule?

Currently, the community incentives are planned to vest throughout a 207-week time period, that is around 4 years.

# How many tokens are released every week?

Out of the 300Mn total supply of CHESS, 50% will be used for community distribution and incentives, of which 120Mn will be released on Tranchess.
On Tranchess, CHESS distribution started on June 24th. The week from June 24th to July 1st is defined as "week 1". Week 1 started with distributing 300,000 tokens, and from week 2 to 4, each week distributes an additional 300,000 on top of the previous week. By the end of week 4, the accumulated distribution was 3,000,000.
CHESS staking reward for ETH starts on 14:00 UTC, November 4th.
The detailed emission schedule for all staked assets is as below:
Tranchess Incentives
From (Week)
To
#Week
#Tokens per Week
Cumulative CHESS Distributed End of Week
1
(June 24)
1
(July 1)
1
300,000
300,000
2
(July 1)
2
(July 8)
1
600,000
900,000
3
(July 8)
3 (July 15)
1
900,000
1,800,000
4
(July 15)
4
(July 22)
1
1,200,000
3,000,000
5
(July 22)
5
(July 29)
1
2,400,000
5,400,000
6
(July 29)
20
(Nov. 11)
15
Starts from 2,304,000 and decrease by 4% every week.
31,775,824
21
(Nov. 11)
30
(Jan. 20, 2022)
10
Starts from 1,261,977 and decrease by 3% every week.
42,821,315
TBD...
Each week, the distributed CHESS tokens are allocated to the staked BTC and ETH funds at a certain percentage. The detailed split between the two funds are as below:
From (Week)
To (Week)
# of Weeks
Specific Percentage
20 (Nov. 4)
20 (Nov. 11)
1
ETH: 5%, BTCB: 95%
21 (Nov. 11)
21 (Nov. 18)
1
ETH: 10%, BTCB: 90%
22 (Nov. 18)
22 (Nov. 25)
1
ETH: 15%, BTCB: 85%
23 (Nov. 25)
23 (Dec. 2)
1
ETH: 20%, BTCB: 80%
24 (Dec. 2)
Onwards
-
Calculated explained below*
*: For week 24 onwards, the split between BTCB and ETH is calculated using the following formula:
ETH% = (
$TVL_{ETH}/ TVL_{TOTAL}$
+ Last Week's ETH% )/2
BTCB% = (
$TVL_{BTCB}/ TVL_{TOTAL}$
+ Last Week's BTCB% )/2
For example, at the beginning of a certain week, the total TVL of Tranchess is 2 billion, with 1.5 billion of BTCB and 0.5 billion of ETH. Also, the previous week's allocation split was 80% for BTCB and 20% for ETH.
(0.5/2+0.2)/2=22.5% ==> 22.5% of this week's total weekly CHESS emission will be allocated to the ETH staking pool;
(1.5/2+0.8)/2=77.5% ==> 77.5% of this week's total weekly CHESS emission will be allocated to the BTCB staking pool.

# How many CHESS does a Token QUEEN/BISHOP/ROOK holder get every day?

The weight for Token QUEEN, Token BISHOP, and Token ROOK is set at 3:4:2, which means that IF 1 QUEEN received 3 CHESS tokens in a certain week, then during the same time period, 1 BISHOP would receive 4 CHESS tokens, and 1 ROOK would receive 2 CHESS tokens.
For example:
Suppose that Tranchess distributed 300,000 CHESS in total during a certain week and had an average total number of 30,000 QUEEN, 15,000 BISHOP, and 15,000 ROOK staked in the protocol during that week. The average number of CHESS that each QUEEN could get during this period would be 5, each BISHOP would get 5*(1+33%) ≈ 6.67, and each ROOK would get 5*(1-33%) ≈ 3.33.
The weight for Q/B/R of the ETH fund is the same as the BTCB fund, thus follows the same calculation as the example above.