Sports-focused blockchain Chiliz is expanding its roster of over 70 fan tokens to Solana and Base, the Ethereum layer-2 network developed by Coinbase.
Chiliz rolled out its own layer-1 network in 2023 to host the trading of its tokens, but is transitioning to what it calls “omnichain distribution,” according to an announcement on X.
Chiliz stated that by using the Omnichain Fungible Token (OFT) standard, fan tokens will operate across all supported blockchains with a single unified supply, removing the need for wrapped tokens and preventing fragmented liquidity across separate pools.
Chiliz said it hopes that expansion to Solana and Base will give these tokens a major trading volume boost ahead of this summer’s FIFA World Cup.
Fan tokens are digital assets for sports communities. Chiliz has created 70+ tokens for clubs like Paris Saint-Germain, Barcelona, letting fans access rewards and voting rights on club decisions.
Source: X.com
You need to login in order to Like
Leave a comment