Rebalances are essentially linear transformations across all accounts and upon three tranche balances. The Fund protocol is responsible for managing balances of Token QUEEN, BISHOP, and ROOK altogether, triggering a new rebalance, and archiving every rebalance as a matrix. Since the Fund is the first to know if there is a new rebalance, total supplies and the Fund’s balances of Token QUEEN/BISHOP/ROOK are always up to date. Unfortunately, it is impossible to do the same for individual balances, nor is it possible to notify every other contract about the rebalance. As a result, the general mechanism is to delay per-user rebalances until the next user operation. Furthermore, contracts other than Fund must keep track of per-user last rebalance IDs and update the local data to more recent versions by consulting the historical data from the Fund. The application of delayed rebalance could be seen in token transfer, allowances, staking, trade settlements, etc.