- Binance collaborates with Chiliz for Chiliz (CHZ) 2.0 Mainnet integration, enabling token swap, including critical fan tokens for sports and entertainment.
- BEP2 CHZ tokens swap to CAP20 standard at a 1:1 ratio. Deposits/withdrawals of CHZ tokens and fan tokens via certain networks to be discontinued.
- Chiliz Chain 2.0 Mainnet focuses on Web3 growth, enhancing infrastructure, NFTs, DeFi. Binance-Chiliz partnership aims to boost CHZ ecosystem and user transition.
Binance has announced support for the integration of Chiliz (CHZ) 2.0 Mainnet to facilitate token swap. This collaboration is significant as the cryptocurrency and blockchain ecosystem continues to grow. Let’s take a look at what’s happening.
Binance, a prominent cryptocurrency exchange, is set to collaborate with Chilliz for the integration of its 2.0 Mainnet. The swap will include Chiliz (CHZ) token and Chiliz’s fan tokens that are supported on Binance. The Chiliz’s fan tokens include AC Milan (ACM), AS Roma (ASR), Atlético de Madrid (ATM), FC Barcelona (BAR), Manchester City (CITY), Juventus (JUV), OG (OG) and Paris Saint-Germain (PSG).
These fan tokens are critical in various sports and entertainment sectors. It is important to note here that all BEP2 standard Chiliz (CHZ) tokens will get swapped to the CAP20 standard with a ratio of 1:1. Following the mainnet integration and swap, deposits and withdrawals of Chiliz (CHZ) tokens through the BEP2 network will not be supported.
Moreover, deposits and withdrawals of Chiliz’s fan tokens through the Chiliz Legacy Chain and BEP20 network will not be supported anymore. In all this fiasco, deposits and withdrawals of ERC20 standard Chiliz (CHZ) tokens will not be impacted.It is important to note that this integration is quite user-friendly, and users’ assets will be managed seamlessly.
Chiliz Chain 2.0 Mainnet
Chiliz is a global blockchain technology business dedicated to the Web3 sports and entertainment industry. Chiliiz Chain 2.0 Mainnet, on February 08, 2023, announced that the platform is rebranding and that there will be a genesis of a new Layer-1 EVM. The launch of the new Chiliz blockchain led to an improvement in Web3 infrastructure, sports and entertainment networks.
All in all, Chiliz Chain 2.0 is focused on attracting more Web3 developers and brands. The blockchain is focused on facilitating the creation of fan tokens, NFTs, and other DeFi products. This ecosystem holds the potential to bring more mainstream brands and entities into the CHZ ecosystem. This collaborative effort between Binance and Chiliz aims to enhance the CHZ ecosystem and provide users with a seamless transition to the upgraded Chiliz Chain 2.0 Mainnet.