• 19 June, 2024
Market News

Chiliz Unveils Inflationary Tokenomics & Onboards PSG as Validator

Chiliz, the leading blockchain platform for sports and entertainment Fan Tokens has announced a comprehensive set of upgrades designed to accelerate the growth of its ecosystem and attract major sports clubs to participate as validators. The most significant change is the restructuring of the Chiliz tokenomics. 

Chiliz tokenomics currently lacks inflation and burning mechanisms and this update will introduce a dynamically decreasing annual inflation alongside a perpetual burn mechanism. It is aiming to incentivize participation in governance and security while fostering long-term sustainability.

Furthermore, according to their official blog post, Chiliz is onboarding sports clubs as node validators on the blockchain. Paris Saint-Germain has become the first club to join this initiative and has pledged to use 100% of its earned rewards for regular buybacks of its $PSG Fan Token.

In another set of updates on the Chiliz ecosystem it is reported that JalaSwap, a new decentralized exchange (DEX) specifically designed for Fan Tokens is also set to launch on the Chain. This will provide a dedicated platform for trading Fan Tokens and further enhance the liquidity of the ecosystem.

The blog post also mentioned that Chiliz is developing a non-custodial wallet for the Socios.com platform. It will enable users to directly interact with Chiliz Chain dApps and manage their digital assets securely. Recently, Alexandre Dreyfus who is the creator of Chiliz and Socios shared an exciting announcement on X (previously Twitter) that Tottenham Hotspur had joined forces with Socios.com to introduce a new way for fans to engage with the club.

Dreyfus also shared on X that after 6 years, CHZ token holders will finally receive rewards for securing the Chiliz blockchain through staking. The estimated annual percentage return (APR) or annual percentage yield (APY) is expected to start at over 11%, depending on the staking participation level.

Talking about expansion, strategic partnerships are a key focus for Chiliz with the company targeting South Korea, Japan, the Middle East and Brazil to expand its reach and attract local industry leaders. These partnerships aim to position the Chiliz Chain as a valuable tool for businesses in these regions.

A major new product line focusing on GameFi and SportFi is also on the horizon set to launch in Q1 2024. The official announcement did not mention many details that remain under wraps but the involvement of leading sports properties suggests a significant development for the Chiliz ecosystem.

Finally, Chiliz is launching $PEPPER which is a community token and the Peps NFT collection to further incentivize participation and build a strong community around the Chiliz Chain. These initiatives aim to create a cohesive cross-platform asset that connects Fan Token holders, Socios.com users, and participants on the Chiliz Chain.

Sheboshis NFT Launch Brings Excitement and Caution Amid Rising Burn Rates Read Previous

Sheboshis NFT Launch Brings Excitement and Caution Amid Rising Burn Rates

Pepe's Rally Mirrors Shiba Inu's Historic Run: What's Next? Read Next

Pepe's Rally Mirrors Shiba Inu's Historic Run: What's Next?