Tranche is a decentralized protocol for managing risk. The protocol integrates with any interest accrual token, such as Compound's cTokens and AAVE's aTokens, to create two new interest bearing instruments, one with a fixed-rate, Tranche A, and one with a variable rate, Tranche B.

Tranche re-invents debt seniority for decentralized networks. Unlike other risk management protocols, Tranche provides epochless and completely perpetual de-risked assets.