Start with SolvBTC

The basics of Tranchess SolvBTC Fund.

Make sure to switch to the BNB Chain network before getting started.

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

• turPSBTC: 100x points earnings

• staYSBTC: Fixed 8% APR and no points

• sbtcQUEEN: 1:1 with SolvBTC.

• staYSBTC-SolvBTC 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 three months and conclude on September 10, 2024. After the fund closes, all tokens will be converted into SolvBTC proportionally.

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

turPSBTC: Max points

Short for "Turbo Point SolvBTC," turPSBTC turbocharges your speed of earning SolvBTC points. With an innate leverage of 10 and a bonus multiplier of 10 from Solv, turPSBTC earns Solv points at a 100x rate.

turPSBTC gets all the point shares allocated to staYSBTC; in return, it pays staYSBTC a fixed interest rate as a cost.

You can swap turPSBTC back to SolvBTC anytime you want, or hold it until the fund ends, when all turPSBTCs will be converted back to SolvBTC.

staYSBTC: Fixed yield

Short for "Stable Yield SolvBTC", staYSBTC earns a fixed interest of 8%. staYSBTC doesn't earn any points.

You can swap staYSBTC back to SolvBTC anytime you want, or hold it until the fund ends, when all staYSBTCs will be converted back to SolvBTC.

staYSBTC-SolvBTC LP: Points, yield, CHESS incentives and trading fees

staYSBTC-SolvBTC LP holders collect a basket of yield including four parts:

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

  • Bonus CHESS incentives: 100,000 CHESS per week.

• Trading fee: 0.05%

• Interest: Partial interest from staYSBTC. Example: If one LP token consists of 0.6 staYSBTC and 0.4 SolvBTC, the LP token would earn 0.6*8%=4.8% interest.

• SolvBTC multiplier: Each SolvBTC in LP receives a 10x multiplier of SolvBTC points. The value of a SolvBTC is calculated based on its notional value.

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

sbtcQUEEN

Swap sbtcQUEEN 1:1 with SolvBTC. Every sbtcQUEEN can be split into 0.1 turPSBTC and 0.9 staYSBTC. Similarly, every 1 turPSBTC and 9 staYSBTC can be merged into 10 sbtcQUEEN. The ratio is always $1 \rightleftharpoons 0.1+0.9$.

sbtcQUEEN points and earnings

sbtcQUEEN does not earn any Solv points. However, you can turn your SolvBTC points multiplier into 10x with just two more steps and no slippage or loss of any kind:

1. Creating sbtcQUEEN with SolvBTC 1:1

2. Splitting sbtcQUEEN into turPSBTC and staYSBTC. There is no fee for split/merge.

Here is why:

1 sbtcQUEEN = 0.1 turPSBTC and 0.9 staYSBTC. While staYSBTC does not earn any points, turPSBTC earns 100x Solv points. So for every SolvBTC you have, minting it into sbtcQUEEN and splitting it up will give you $0.1 *100+0.9*0=10$ points! (Not to mention the fixed yield from staYSBTC!)

You can always merge turPSBTC and staYSBTC back into sbtcQUEEN and redeem it back into SolvBTC. There is no lockup period, no creation/redemption fee, and no split/merge fee.

Here is how you can turn your SolvBTC point earnings to 10X:

1. go to Primary Market. You will find the link under "Turbo & Stable". (Make sure you are on BNB Chain)

2. Connect your wallet and put in the sbtcQUEEN amount you want to create under the "Create/Redeem" section.

3. Put in the sbtcQUEEN amount you want to split. (Our advice for maximized earnings is to split them all until you need to redeem them back to SolvBTC.)

4. And that's it! The only cost during the process is the gas fee to approve the transactions. No extra action is needed. The turPSBTC and staYSBTC combo you get from splitting is generating a 10x-point earning for you now.

5. You can hold them till maturity or merge them back into sbtcQUEEN and redeem them for SolvBTC anytime you want to.

When the fund ends

All tokens will be converted back to SolvBTC based on their fair value, specifically:

• sbtcQUEEN: 1:1

• turPSBTC and staYSBTC:

  • the fair values of turPSBTC and staYSBTC don't calculate their points and consider only their yield and cost on the platform.

  • staYSBTC 's fair value calculates its fixed interest earning, generating a fair value of about 1.02, i.e., every staYSBTC will be converted into 1.02 SolvBTC.

  • turPSBTC's fair value calculates its cost of holding all staYSBTC point-earning shares, generating a fair value of about 0.82, i.e., every turPSBTC will be converted into 0.82 SolvBTC.

  • Note: the numbers above are rough estimates for illustration purposes only. The exact figures will be announced when the fund approaches the ending date.

Fees

• LP pool trading fee: 0.05%

• That's it！