What is the issuance and circulation of ChiliZ coins?

What is the Issuance and Circulation of ChiliZ Coins?

ChiliZ (CHZ) is a digital currency specifically designed for sports and entertainment platforms, enabling fans to engage with their favorite teams and influence club decisions through fan tokens. Understanding the issuance and circulation of CHZ coins is crucial for grasping the project's tokenomics and market dynamics.

Issuance of ChiliZ Coins

• Initial Distribution: Upon its launch in 2018, a total of 8,888,888,888 CHZ coins were created through an Initial Coin Offering (ICO).
• Vesting Schedule: A significant portion of the CHZ tokens were issued with a vesting schedule, with 20% released upon the ICO's completion and the remaining 80% distributed gradually over the following five years.
• Token Distribution: The tokens were allocated as follows: 60% for the public sale, 20% for the core team and advisors, 10% for token distribution programs, and 10% for reserve funds.

Circulation of ChiliZ Coins

• Circulating Supply: As of the present, there are approximately 6,166,264,573 CHZ coins in circulation.
• Market Capitalization: The market capitalization of CHZ fluctuates based on market demand and supply. At the time of this writing, CHZ has a market capitalization of approximately $422 million.
• Trading Volume: CHZ is traded on various cryptocurrency exchanges, with an average daily trading volume of around $10 million.
• Accepted Platforms: CHZ is accepted and used on the Socios.com platform, which allows fans to purchase fan tokens for various sports and entertainment organizations.

Burn and Staking Mechanisms

• Burn Mechanism: Socios.com employs a "Burn-and-Swap" mechanism, where Fan Tokens are burned to obtain CHZ tokens. This process reduces the circulating supply and potentially increases the value of CHZ.
• Staking Incentives: CHZ holders who stake their tokens on the Socios.com platform are rewarded with voting rights, exclusive access to rewards and events, and potential returns on their staked CHZ.

Key Takeaways

• CHZ coins were issued through an ICO, with a portion undergoing a vesting schedule.
• The total circulation of CHZ is approximately 6.2 billion coins.
• CHZ is traded on cryptocurrency exchanges and has a market capitalization of over $400 million.
• The Burn-and-Swap mechanism and staking incentives impact the circulating supply and engagement of CHZ holders.