Tranchess, a decentralized protocol specializing in risk-adjusted yield solutions for digital assets, has teamed up with StakeStone and Scroll to introduce a novel yield product called Queen Stone (stoneQUEEN).
In a joint announcement, Tranchess, Scroll, and StakeStone expressed their commitment to meeting the increasing demand for DeFi products and services by providing users with opportunities to engage with various DeFi protocols.
Queen Stone will leverage Scroll’s zero-knowledge (ZK) technology, while Tranchess will contribute its expertise in yield optimization and risk management. StakeStone’s staking solutions will complement these efforts, offering additional avenues for generating yield.
“This integration introduces a sophisticated, multi-layered approach to yield optimization, granting users access to multiple yield sources including native staking rewards, Stone points, Scroll marks, and Tranchess airdrops, alongside additional earnings from LP pools,” said Danny Chong, CEO, and Co-Founder of Tranchess in a press release.
Chong further added, “The Tranchess StakeStone Fund deployed on Scroll empowers investors to explore diverse yield sources across DeFi protocols, enabling them to tap into a wide array of yield generation opportunities.”
Dencun Upgrade Sees Surge in Demand for DeFi Products
As the Dencun upgrade reached its one-month mark, Tranchess reported that the DeFi community had been closely monitoring the performance of prominent Layer 2 solutions to deliver more cost-effective transactions. The surge in demand for DeFi products has been evident, with the Total Value Locked (TVL) in DeFi reaching an unprecedented high of over $86 billion. This surge underscores the increasing necessity of enhancing accessibility to DeFi for a wider audience.
The highly anticipated Dencun upgrade for Ethereum was slated for its mainnet launch on March 13, following successful testnet deployments in February. This upgrade marked a significant milestone in Ethereum’s evolution and had notable repercussions across the broader market.
In January, Tranchess had unveiled the introduction of two new staking products: “staYETH” and “turYETH.” These products were designed to offer investors diversified options for earning yield on their staked Ether (ETH). Tranchess highlighted the rising institutional demand for sophisticated DeFi products and positioned staYETH and turYETH as solutions tailored to both new entrants and seasoned users seeking more refined investment options.
