As a leading Blockchain provider in sports and entertainment, Chiliz announced an exciting moment on Chiliz Chain. The hard fork named “Dragon8” comes with a robust new token economy model and significant technological advancements. Scheduled to launch on Mainnet on May 21, 2024, Dragon8 represents a critical step for the chain.
New Era for Chiliz Chain: Dragon8 Hard Fork
This update witnesses the full implementation of the previously announced Chiliz Chain Tokenomics 2.0, featuring a structured annual inflation rate that starts at 8.80% and gradually decreases to 1.88% over 14 years. This includes a balanced incentive structure that encourages immediate participation and supports long-term commitment among network validators and users. It also includes key components such as a transaction fee burning mechanism.
The Dragon8 Hard Fork also offers significant developer-focused advancements. This includes the latest version of Solidity and introduces new transaction codes and precompiles that developers can use to create smart contracts on the Chiliz Chain. Additionally, it supports type-2 transactions in compliance with EIP-1559 to facilitate transaction fee management and enhance economic efficiency for developers.
What Does the Hard Fork Bring?
Chiliz Chain, as a platform hosting over 80 projects within the SportFi ecosystem, places great importance on innovation and community participation. The Dragon8 Hard Fork enriches the developer experience and elevates the economic framework of the Chiliz ecosystem, promoting a sustainable and decentralized network.
Chiliz and Socios.com CEO Alexandre Dreyfus commented on this new era with these words:
“We are immensely proud to launch Dragon8, a testament to our pursuit of innovation and excellence. The implementation of Tokenomics 2.0 is designed to support long-term value and sustainability for our network, ensuring Chiliz Chain remains the leading blockchain for the sports and entertainment industry.”
This new era initiated by Chiliz with Dragon8 could mark a turning point in the adoption of blockchain technology in the sports and entertainment world. The new token economy model and technological advancements could enhance the potential for industry players to shape the future.
