Chiliz Chain launches Dragon8 hard fork, introducing new tokenomics

Paris, 30 Apr, 2024: — Chiliz, the leading blockchain provider for the sports and entertainment industry, has announced the activation of the “Dragon8” hard fork on the Chiliz Chain. This update introduces a robust new tokenomics model and significant technological enhancements. Scheduled to launch on the Mainnet on May 21, 2024,* Dragon8 represents a critical advancement for the chain.

The hard fork sees the full implementation of the previously announced Chiliz Chain Tokenomics 2.0, featuring a structured annual inflation rate that begins at 8.80% and gradually decreases to stabilize at 1.88% after 14 years. A key component of this is a transaction fee burning mechanism, designed to provide a balanced incentive structure that fosters both immediate participation and long-term commitment from network validators and users.

The hard fork also introduces substantial developer-oriented advancements, including the latest version of Solidity. Among other things, this enables developers to utilize new opcodes and precompiles, enriching the toolset available for creating sophisticated smart contracts on the Chiliz Chain. Additionally, the hard fork integrates support for type-2 transactions, aligning with EIP-1559 to streamline transaction fee management and improve economic efficiency for developers.

The Chiliz Chain, featuring 80+ projects within its SportFi ecosystem, continues to attract developers and users with its commitment to innovation and community engagement. The Dragon8 hard fork therefore enriches the developer experience and upgrades the economic framework of the Chiliz ecosystem, promoting a sustainable and decentralized network.

“We‘re immensely proud to launch Dragon8, a testament to our pursuit of innovation and excellence,” said Alexandre Dreyfus, CEO of Chiliz and Socios.com. “The implementation of Tokenomics 2.0 is designed to bolster long-term value and sustainability for our network, ensuring the Chiliz Chain remains the leading blockchain for the sports and entertainment industry.”

For more detailed information on Chiliz Chain’s Dragon8 hard fork, please visit the Chiliz Chain Tokenomics page and Changelog.

*The scheduled launch date for the hard fork may change due to technical developments or testing phase adjustments to ensure performance and security.

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