Important Announcement: Launching the First Batch of Fan Tokens on the Chiliz Chain

Dear Chilizens,

We are thrilled to announce that deposit and withdrawal functions are activated for the debut batch of Fan Tokens on Chiliz Chain, spotlighting $TIGERS, $SHARKS, $HASHTAG, $BAHIA, and $NOV on ChilizX. We will be progressively rolling out Chiliz Chain integrations in batches, we'll keep you informed about which Fan Tokens are being supported over the coming days. It is a significant milestone in developing our platform and brings us one step closer to achieving our vision of a more open and decentralized Chiliz ecosystem.

Changes to Deposit and Withdrawal Fees

As part of our transition to the Chiliz Chain, there will be changes to the deposit and withdrawal fees for our platform. On the Chiliz Chain, users will incur gas fees for depositing and withdrawing. These minimal fees are in place to support the Chiliz Chain ecosystem.

As Fan Tokens are not divisible, we have introduced a new conversion feature to convert Fan Tokens to CHZ to enable a smooth withdrawal service utilizing CHZ for the transaction fee. Note that you should not need to use this feature if you have CHZ already available in your wallet. 

Chiliz Chain Vs. Chiliz Legacy Chain

Simply put, the Chiliz Chain is the successor of the Chiliz Legacy Chain. The Chiliz Chain provides a more robust and open blockchain experience with features such as on-chain governance via staking. It is EVM compatible and therefore supports  Ethereum tooling and boasts faster finality and more reasonable transaction fees. The Chiliz Chain is also more open, allowing third-party developers and companies to deploy dApps, which was not possible on the Chiliz Legacy Chain.

Deprecating the Chiliz Legacy Chain Withdrawal

While we're migrating to the new Chiliz Chain, the Chiliz Legacy Chain will remain operational. We understand this is a significant change, and we will ensure to communicate any changes regarding the support of the Legacy Chain in advance.

Please keep in mind that we plan to deprecate the Chiliz Legacy Chain withdrawal functionality of certain Fan Tokens over time. For Fan Tokens that are fully managed by us and only available on ChilizX and Socios, will be the first to be closed off from Chiliz Legacy Chain. We will announce the specific dates in advance..

Important Notice: Please be aware that your assets could be lost if you deposit or withdraw to the wrong chain and we may not be able to recover. Please always make sure that you are transacting on the correct chain. This is crucial to securing your assets.

Stay tuned for more updates, and thank you for being a part of our journey.