Tranchess, a liquid staking-focused DeFi protocol, has shipped its v3 interplay, introducing new yield merchandise for stETH holders.
On Feb. 15, Tranchess introduced the launch of its v3 protocol, debuting two new options developed alongside Lido, the group behind the stETH liquid staking token (LST).
Tranchess‘s Turbo Yield ETH (turYETH) product permits customers to entry leveraged publicity to steETH, bolstering the staking rewards earned by holders. Its Steady Yield ETH (staYETH) providing additionally presents fixed-rate staked ETH rewards for as much as one yr, permitting holders to sidestep the volatility of staking reward fluctuations as new validators come on-line.
Tranchess additionally presents a liquidity pool pairing wstETH and staYETH, permitting liquidity suppliers to earn charges on trades executed by way of the pool.
“We’re excited to announce the launch of Tranchess V3, LSTFi Enlargement,” Tranchess stated. “We targeted on constructing vertically, unlocking LST utility surpassing easy collateralization.”
Tranchess additionally hinted that early adopters might be rewarded for adopting the brand new merchandise, stating that extra might be introduced quickly concerning “incentives, rewards, and applications” for early customers.
Tranchess is hoping the brand new options rolled out alongside its v3 iteration will appeal to new customers and develop the protocol’s market share.
The entire worth locked (TVL) in Tranchess has persistently trended between $42M and $75M since September 2022, with its TVL presently sitting at $58.8M.
Its CHESS token can also be buying and selling at $0.21, having gained 20% since Tranchess introduced v3’s imminent launch on Feb. 6, in accordance with CoinGecko.
