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Tranchess Collaborates with StakeStone and Scroll to Launch Queen Stone
Tranchess, a decentralized protocol specializing in risk-adjusted yield solutions for digital assets, has partnered with StakeStone and Scroll to introduce a new yield product called Queen Stone (stoneQUEEN).
Product Details
- Queen Stone will utilize Scroll’s zero knowledge (ZK) technology.
- Tranchess will contribute its expertise in yield optimization and risk management.
- StakeStone’s staking solutions will offer additional avenues for yield generation.
According to Danny Chong, CEO and Co-Founder of Tranchess, this collaboration introduces a complex, layered approach to yield optimization, providing users with multiple sources of yield through native staking rewards, Stone points, Scroll marks, and Tranchess airdrops, along with additional earnings from LP pools.
Chong further adds that the Tranchess StakeStone Fund deployed on Scroll enables investors to explore multiple yield sources across DeFi protocols, granting access to diverse yield generation avenues.
Dencun Upgrade Impact
Following the Dencun upgrade, there has been a surge in demand for DeFi products. The DeFi Total Value Locked (TVL) has reached a record-breaking high, exceeding $86 billion. This growth highlights the necessity of making DeFi more accessible to a wider audience.
Ethereum’s Dencun upgrade, launched on the mainnet on March 13, following successful testnet releases in February, marked a significant milestone in Ethereum’s evolution and had broader market implications.
Staking Products Launch
In January, Tranchess unveiled two new staking products, “staYETH” and “turYETH,” aiming to provide investors with diversified options for earning yield on their staked Ether (ETH).
Tranchess identified rising institutional demand for sophisticated DeFi products and positioned staYETH and turYETH as solutions catering to both new and existing users seeking refined DeFi options.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
