Chiliz Chain Hard Fork & Enhanced CHZ Tokenomics Unveiled!

Key Points:

• Hard fork scheduled for May, unveiling CHZ Token Economics 2.0.
• Dragon 8 hard fork launched on Spicy test network.
• CHZ inflation rate to plummet to 1.88%, alongside fee destruction mechanism.

Chiliz Chain CEO Alexandre Dreyfus has made waves in the cryptocurrency world with a recent announcement on the X platform.

Dreyfus revealed that Chiliz Chain’s mainnet is set to undergo a significant transformation in May, marked by a hard fork, alongside the launch of CHZ Token Economics 2.0. While the precise launch date is yet to be disclosed, anticipation is high as the community awaits further details.

The momentum surrounding Chiliz Chain intensified with yesterday’s revelation of the Dragon 8 hard fork launch on the Spicy test network. Dreyfus elucidated that upon the completion of testing, a pivotal governance vote will determine the fate of this hard fork’s deployment on the mainnet, adding an element of democratic decision-making to the process.

CHZ Inflation Rate Slated to Plummet with Fee Destruction Mechanism

Chiliz’s earlier release of Token Economics 2.0 in February hinted at significant adjustments. Among them, the inflation rate of CHZ is slated to plummet from 8.8% to a mere 1.88% annually, stabilizing after 14 years. Moreover, Chiliz Chain plans to incorporate the EIP-1559 transaction fee destruction mechanism, paving the way for the destruction of a substantial portion of accumulated gas fees.

These developments underscore Chiliz’s commitment to enhancing the functionality and sustainability of its blockchain ecosystem. By implementing measures to regulate inflation and optimize transaction fees, Chiliz Chain aims to bolster the attractiveness of its platform to both users and investors alike.

With the impending hard fork and the unveiling of CHZ Token Economics 2.0, Chiliz Chain positions itself at the forefront of innovation in the burgeoning realm of sports and entertainment-focused cryptocurrencies. As the community eagerly awaits further updates, all eyes remain on Chiliz Chain as it charts a course towards a transformative future in blockchain technology.