Start with STONE

The basics of Tranchess STONE Fund.

Make sure to switch to the Scroll network before getting started.

Register your wallet address in StakeStone Carnival before the event is over! Although you start accumulating points as soon as you hold turPSTONE, stoneQUEEN, and/or staYSTONE-STONE LP, StakeStone cannot recognize and count your points until you register the address in StakeStone Carnival and activate the points under it.

Tranchess STONE Fund includes three product designs and a liquidity pool:

  • turPSTONE: Maximized points earnings

  • staYSTONE: Fixed APR and no points

  • stoneQUEEN: 1x points

  • staYSTONE - STONE LP: points, trading fee, CHESS allocation and fixed yield

You can hold any combination of the four tokens to form your ideal yield/point earning portfolio, and adjust your portfolio anytime you need to. There is no lock-up period.

The first fund will last for six months and conclude on October 8, 2024. After the fund closes, all tokens will be converted into STONE proportionally.

Choosing the ideal token - More points, fixed yield, or a little bit of everything:

turPSTONE: Max points

Short for "Turbo Point STONE," turPSTONE turbocharges your speed of earning STONE points. With an innate leverage of 10 and a bonus multiplier of 2 from StakeStone, turPSTONE earns StakeStone points at a 20x rate.

turPSTONE gets all the point shares allocated to staYSTONE, in return, it pays staYSTONE a fixed interest rate as cost.

You can swap turPSTONE back to STONE anytime you want, or hold it until the fund ends, when all turPSTONEs will be converted back to STONE.

staYSTONE: Fixed yield

Short for "Stable Yield STONE", staYSTONE earns a fixed interest of 6%. staYSTONE doesn't earn any points.

Don't confuse the fixed APR with the staking yield. The staking yield paid to STONE holders is separate from the fixed yield and will not be affected.

You can swap staYSTONE back to STONE anytime you want, or hold it until the fund ends, when all staYSTONEs will be converted back to STONE.

staYSTONE-STONE LP: Points, yield, CHESS incentives and trading fees

staYSTONE-STONE LP holders collect a basket of yield including four parts:

  • CHESS rewards: Weekly CHESS incentives and weekly CHESS emissions decided by weekly governance voting

    • CHESS incentives:

Week #CHESS Amount

1 (2024-04-19 03:00 UTC ~ 2024-04-26 03:00 UTC)

100,000

2 (2024-04-26 03:00 UTC ~ 2024-05-03 03:00 UTC)

150,000

3 (2024-05-03 14:30 UTC ~ 2024-05-10 14:30 UTC)

150,000

4 (2024-05-10 14:30 UTC ~ 2024-05-17 14:30 UTC)

150,000

  • Trading fee: 0.05%

  • Interest: Partial interest from staYSTONE. Example: If one LP token consists of 0.6 staYSTONE and 0.4 STONE, the LP token would earn 0.6*6%=3.6% interest.

  • STONE multiplier: Each STONE in LP receives a 2x multiplier of StakeStone points. The value of a STONE is calculated based on its notional value.

You can add or withdraw liquidity anytime in pairs or single assets.

stoneQUEEN

Swap stoneQUEEN 1:1 with STONE. Every stoneQUEEN can be split into 0.1 turPSTONE and 0.9 staYSTONE. Similarly, every 1 turPSTONE and 9 staYSTONE can be merged into 10 stoneQUEEN. The ratio is always 1ā‡Œ0.1+0.91 \rightleftharpoons 0.1+0.9.

stoneQUEEN points and earnings

Just like STONE, stoneQUEEN earns 1x StakeStone points. However, you can double the multiplier into 2x with just one more step and no slippage or loss of any kind: splitting stoneQUEEN into turPSTONE and staYSTONE. There is no fee for split/merge.

Here is why:

1 stoneQUEEN = 0.1 turPSTONE and 0.9 staYSTONE. While staYSTONE does not earn any points, turPSTONE earns 20x StakeStone points. If 1 stoneQUEEN earned 1 point, splitting it up will give you 0.1āˆ—20+0.9āˆ—0=20.1 *20+0.9*0=2 points! (Not to mention the fixed yield from staYSTONE!)

You can always merge turPSTONE and staYSTONE back into stoneQUEEN and redeem it back into STONE. There is no lockup period, no creation/redemption fee, and no split/merge fee.

Here is how you can double your stoneQUEEN point earnings:

  1. go to Primary Market. You will find the link under "Turbo & Stable".

  1. Connect your wallet and put in the stoneQUEEN amount you want to split. (Our advice for maximized earnings is to split them all until you need to redeem them back to STONE.)

  1. And that's it! The only cost during the process is the gas fee to approve the transaction. No extra action is needed. The turPSTONE and staYSTONE combo you get from splitting is generating a 2x-point earning for you now.

  2. You can hold them till maturity or merge them back into stoneQUEEN and redeem them for STONE anytime you want to.

Register your wallet address in StakeStone Carnival before the event is over! Although you start accumulating points as soon as you hold turPSTONE, stoneQUEEN, and/or staYSTONE-STONE LPs, StakeStone cannot recognize and count your points until you register the address in StakeStone Carnival and activate the points under it.

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