Chiliz FAQs

Chiliz
Chiliz
Mar 5, 2018 · 7 min read

Answers to the questions that keep popping up in our inbox(es). (Updated on June 1st, 2020)

What is Chiliz?

Chiliz ($CHZ) is a leading digital currency for sports tokenization, powering the world’s first scalable fan engagement & rewards app where fans can buy & trade branded Fan Tokens as well as vote in club-focused surveys & polls.

Chiliz.net is the world’s first cryptocurrency exchange for sports, allowing crypto-enthusiasts and traders to speculate and trade Fan Tokens.

What is the Token Ticker?

$CHZ

Will Chiliz have a public sale?

Chiliz raised all funds through private placement in 2018, meaning that there was not, & never will, be a public sale.

How much did Chiliz raise?

Chiliz raised just over $66 million through private placement in 2018.

Is Chiliz listed on exchanges? And if so, which one/s?

$CHZ is listed on: Binance, CoinOne, Bitmax, Kucoin, Wazirx, Binance Dex, Bitfinex, Bitpanda, Crypto.com and Bitnovo.

You can also buy $CHZ on Chiliz.net, the world’s cryptocurrency exchange for sports that allows sports fans and crypto enthusiasts to buy and sell official digital assets from some of the most recognizable brands in the sporting world.

What is the total supply of $CHZ?

8,888,888,888 $CHZ (8.8 Billion)

What is the circulating supply of $CHZ?

You can view the circulating supply of $CHZ here.

Do you have Official Telegram Channels?

Yes, our official Telegram channels are as follows:

English — https://t.me/chiliz_io

Japanese — https://t.me/chilizjapan

Turkish — https://t.me/ChilizTurkey

Korean — https://t.me/ChilizKR

Chinese — https://t.me/chilizchina

What is the relationship between Chiliz & Binance?

$CHZ is listed on Binance, and Binance is also a strategic investor in Chiliz.

Can I work at Chiliz?

Are you passionate about sports? Or blockchain technology? Or both? If you think you’ve got what it takes to join the team, please check out our careers page here

What is Socios.com?

Socios.com is the world’s first fan voting and rewards platform that helps sport entities achieve digital transformation through blockchain technology. Socios.com is powered by the Chiliz token ($CHZ), both an ERC20 utility token on the Ethereum blockchain and BEP-2 token on Binance Chain. Fan Tokens are specific to a team or a club, and are a finite, digital asset that provides access to an encrypted, immutable ledger of voting and membership rights ownership. The tokenized fan-voting platform uses Fan Tokens, which operate on a separate permissioned side chain. The Fan Tokens are limited in number, and are fungible, meaning their ownership can be traded, and their price is driven by the market. The venture was inspired by the fan-led management frameworks or ‘socios’ of some major football clubs. Dubbed ‘Socios 2.0’, the platform simply represents the digitisation of this model of management.

Why would football clubs, esports teams and other gaming organisations partner with Socios.com?

Socios.com is building a global community of sports fans, united by their passion for the game and their passion for their team. Using innovative technology, we’re creating a closer connection between the fans and the clubs by supercharging the way they interact with their team. Through Socios.com, supporters are able to directly influence club decisions. From choosing merchandise designs, in-game banners, naming a training ground or even choosing a goal celebration song, fans vote through Socios.com and whatever the outcome, the club will honour the decision of the fans, all while earning rewards and once-in-a-lifetime experiences.

Which organisations has Socios.com partnered with?

Socios.com has partnered with Paris Saint-Germain, Juventus, West Ham United, OG, AS Roma, Club Atlético de Madrid, Galatasaray, Club Atlético Independiente , FC Barcelona and UFC who have a hundreds of millions of fans worldwide, with more clubs and teams to be announced in due course.

How does a team, league, club etc join the Socios.com platform?

If you’re a team/club or league and are interested in joining Socios.com, please contact us on partnerships@socios.com

Does Chiliz have any competitors?

Despite more and more companies entering this space, Chiliz is already more than two years-old, has a product, thousands of users and unrivalled partnerships with some of the biggest names in the sporting world.

How up-to-date is your whitepaper?

Our whitepaper is modified and updated according to business needs. The history of modification is always included on the last page.

How do you plan to use your advisors & shareholders?

We have focused on securing advisors who will help us to develop the business, design our products and services and to build our network.

Technological FAQ

Why did you choose to use blockchain technology?

For us, blockchain was the most practical and eloquent way to unite the needs of maintaining voting integrity and transparency with turning voting rights into an ‘ownable’ commodity. The Chiliz token ($CHZ), is both an ERC-20 utility token on the Ethereum blockchain and BEP-2 token on Binance Chain. The tokenized fan-voting platform uses Fan Tokens, which operate on a separate permissioned side chain. The Fan Tokens have a finite supply and are fungible, meaning their ownership can be traded, and their price is driven by supply & demand in the market. Fan Tokens are specific to a team or a club, and are a finite, digital asset that provides access to an encrypted, immutable ledger of voting and membership rights ownership.

Will the Chiliz token be ERC-20 and be available on the main Ethereum network (Main Net)?

Yes, Chiliz is an ERC-20 token, available on the main Ethereum network. ERC-20 is a token standard which describes the functions and events that an Ethereum token contract has to implement. Most of the major tokens on the Ethereum blockchain are of the ERC-20 token standard.

Ethereum blockchain is permissionless. Can it work for permissioned set-ups?

Ethereum supports the Proof-of-Authority consensus mechanism. Proof-of-Authority (POA) is an alternative to Proof-of-Work, which can be used for permissioned chain set ups. POA does not depend on nodes solving arbitrarily difficult mathematical problems, but instead uses a set of ‘authorities’ — nodes that are explicitly allowed to create new blocks and secure the blockchain. The chain had to be signed off by the majority of authorities, in which case it becomes a part of the permanent record.

How do you plan to develop the ‘Votes Token’ on the permissioned chain?

There are a lot of similarities between Fan Tokens and any cryptocurrency token — both are tokens created in an Ethereum blockchain for example, in the main Ethereum network for the Chiliz token and in the Chiliz permissioned sidechain for Fan Tokens. You can view the block explorer for the Chiliz sidechain here. But the similarities don’t end there — there will be a limited supply of Chiliz; they can be owned; they can be transferred from one owner to another; they are fungible; and they have a price driven by the market. For all those reasons, Fan Tokens are minted on the Chiliz permissioned chain.

Permissioned chains are known to be chains used by R3, IBM, and others. Is there a reason to make it a private chain rather than a public chain?

There are two main reasons. Firstly, a private chain is governed by a Proof-of-Authority consensus mechanism, which is less intensive from a computational perspective than Proof-of-Work mining, which provides security but requires intensive computation. POA consensus also provides lower transaction acceptance latency. Secondly, it solves the problem with the associated cost of GAS, if we had to record all the information we intend to store in the Main Ethereum network. In our sidechain, we can control Ether supply and use it to pay the GAS for each transaction at a negligible cost for the company.

Please let us know about the advantages and disadvantages of a permissioned chain.

A POA chain is more secure (an attacker with an unwanted connection or hacked authority cannot overwhelm a network potentially reverting all transactions), less computationally intensive (Proof-of-Work mining which provides security requires lots of computation), more performant (Proof-of-Authority consensus provides lower transaction acceptance latency) and more predictable (blocks are issued at steady time intervals).

How experienced is your development team?

Our team has more than 20 years of web and platform development including major gaming and payments solutions. We embrace blockchain technology, like any other technology we have used in the past.

Will you only focus on mobile, or web too?

The Socios.com platform is currently available for mobile users on both Android and iOS and a desktop version is currently being worked on. You can download the Socios.com app from here. The Chiliz.net exchange is ALSO available on both Android and iOS and can be downloaded from here.

Is it possible to disclose regular business and blockchain development progress?

We have always been very transparent in reaching our milestones, and sharing our journey with the community, whilst still retaining commercial confidentiality, and we will continue to do this. However, we of course have to be careful that the information we share cannot be used by potential competitors in the future. We also have regular updates on our Medium channel as well as regular live AMA’s by our CEO Alexandre Dreyfus streamed on our Youtube channel.

Why are you located in and operating out of Malta?

Chiliz was founded in Malta in 2012, an island that is progressive in terms of blockchain legislation and is very focused on fostering the fintech and digital gaming industries, besides offering the security of being an E.U. member nation.

Is there precedent for having fan controlled teams and events. Has the idea been shown to work?

In conventional sports, as mentioned above, the notion of having a large number of fans either direct top level management decisions, or — going a step further — owning small pieces of the teams they love — has existed in many different forms. In fact Socios.com is inspired by the ‘socios’ or democratic management frameworks of clubs like Real Madrid, FC Barcelona, FC Bayern Munich and even the Green Bay Packers that are the only publicly owned franchise in the NFL.

Chiliz

A digital currency for sports entertainment platforms…

Chiliz

Written by

Chiliz

A digital currency for sports entertainment platforms www.chiliz.com

Chiliz

Chiliz

A digital currency for sports entertainment platforms, adoptable universally across other platforms — Chiliz.com

Chiliz

Written by

Chiliz

A digital currency for sports entertainment platforms www.chiliz.com

Chiliz

Chiliz

A digital currency for sports entertainment platforms, adoptable universally across other platforms — Chiliz.com

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