# Tranche Tranche is a protocol for *stratifying price risk* of crypto-assets. At the core, it allows users to deposit an asset in return for several `Tranche` assets, each representing a different risk level. The safer assets have relatively stable value, while the risky assets have value roughly equivalent to a leveraged position of the underlying asset. ![](/files/dz1OK2T7OiHjLCIBazKY) The following sections will explain how this mechanism works and why it's useful. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.prl.one/buttonwood/learn/tranche.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.