Answer:
Verbal: gerund.
Function: direct object.
Step-by-step explanation:
Verbals are verbs which function as nouns or adjectives. Gerunds (-ing termination) are used as nouns to the main verb. In this case, participating is the noun to the main verb recall. The function of this verbal is a direct object, because it is the thing being acted on by the verb. Participating in a chess tournament is what "receives" the action of the main verb.