About Chiliz (CHZ)

Chiliz Frequently Asked Questions (FAQ)

What are the core functionalities of Chiliz (CHZ)?


The core functionalities of Chiliz (CHZ) include facilitating fan engagement through customizable and tradable fan tokens, providing a blockchain-based platform for sports and entertainment entities to interact with their fan base, enabling voting rights on club-decision polls, and offering an ecosystem where fans can buy, sell, or trade these tokens on the Chiliz Exchange.




Who is the founder of Chiliz and what is his background?


The founder of Chiliz is Alexandre Dreyfus, an entrepreneur with a background in the digital space, particularly in online gaming and sports betting. Before creating Chiliz and its associated fan engagement platform Socios.com, Dreyfus founded and led several tech-focused companies, gaining experience that he leveraged to innovate within the blockchain and sports ecosystem.




What makes Chiliz (CHZ) unique from other digital currencies?


Chiliz (CHZ) is unique due to its focus on the sports and entertainment industries, particularly as the driving force behind Socios.com, a platform that allows fans to participate in the governance of their favorite sports teams by acquiring Fan Tokens. This utility as a fan engagement tool differentiates it from other digital currencies that don't offer such specific real-world applications.




How are fan tokens used on the Socios platform to influence sports clubs?


Fan tokens on the Socios platform provide holders with voting rights in certain club decisions, such as kit designs, match locations, and other fan-related or club management topics. They also offer access to exclusive rewards, merchandise, and experiences.




Which major sports clubs and organizations have partnered with Chiliz?


Major sports clubs and organizations that have partnered with Chiliz include Barcelona FC, Juventus, Paris Saint-Germain, AS Roma, Atletico Madrid, Galatasaray, and esports team OG, among others. They utilize Chiliz to engage with fans through the Socios.com platform, offering fan tokens to enable voting on club decisions and access to exclusive rewards.




What is the total supply of Chiliz (CHZ) coins, and how are they distributed?


The total supply of Chiliz (CHZ) coins is 8.8 billion. The distribution is as follows: 34.5% for token sale, 20% reserved for the strategic acquisition reserve, 5.5% for the team, 12% for user base and ecosystem incentives, 3% for seed investors, 15% held by the company to ensure long-term operations, and 10% for advisors and early contributors.




What blockchains is CHZ available on and why?


CHZ, the native token of Chiliz, is primarily available on the Ethereum blockchain as an ERC20 token and also on the Binance Chain as a BEP-2 token. It's available on these blockchains to leverage their robust ecosystems, ensuring security, interoperability, and accessibility for users and developers.




What consensus mechanism is used on the Socios sidechain?


The Socios sidechain uses a Proof of Authority (PoA) consensus mechanism.




Has the CHZ token been through any security audits, and if so, which?


As of writing in early 2023, Chiliz did not publicly disclose specific security audits for the CHZ token. Security and transparency are priorities for blockchain projects; however, for detailed and updated information regarding CHZ token security audits, it is recommended to check the official Chiliz or CHZ token communication channels or websites.




When did Chiliz begin trading and on which blockchain was it initially launched?


Chiliz (CHZ) began trading in 2019 and was initially launched on the Ethereum blockchain.