Chiliz (CHZ) is the token behind Socios.com, the app where sports fans buy club “fan tokens” to vote in polls and unlock perks. It also pays gas on Chiliz Chain, an EVM-compatible blockchain built for sports and entertainment. Founded in Malta in 2018 by Alexandre Dreyfus, Chiliz signed many of Europe’s biggest football clubs, left the US in early 2023, and in 2024 replaced its fixed supply with a decaying inflation schedule plus a fee burn. Here is how it works, what changed in 2025–2026, and the risks.
What is Chiliz?
Chiliz is two things at once: a company that sells fan engagement to sports teams, and a public blockchain whose native coin, CHZ, ties that business together. Clubs launch fan tokens on Chiliz Chain; fans buy them through Socios.com, usually paying in or routing through CHZ; and validators who secure the chain earn CHZ for doing so. Unlike general-purpose layer-1s, Chiliz courts sports rights holders rather than DeFi developers.
Key takeaways
- Ticker: CHZ, originally an Ethereum ERC-20 token (2018), now the gas and staking coin of Chiliz Chain.
- Supply changed in 2024: the old 8,888,888,888 CHZ cap gave way to inflation starting at 8.80% a year and decaying to a 1.88% floor by year 14.
- Burn: most gas fees are destroyed (an EIP-1559-style burn), which offsets issuance only if usage is high.
- US status: Chiliz exited the US in early 2023 and met the SEC’s Crypto Task Force in April 2025 about a return timed around the 2026 World Cup.
- Core risk: demand depends on fan-token activity, which has historically been cyclical and hype-driven.
History and origin story
Founding and the 2018 raise
Chiliz was founded in 2018 by French entrepreneur Alexandre Dreyfus and operated from Malta within the Mediarex group. That year it raised roughly $65–66 million in private rounds (reports differ slightly), with Binance named as lead investor. CHZ launched in late 2018 as an Ethereum token, and the company set about building an app that would turn passive supporters into token-holding “members.”
Socios.com and the fan-token boom (2019–2021)
Socios.com became the consumer face of Chiliz. Clubs including Paris Saint-Germain, Juventus and FC Barcelona issued fan tokens that let holders vote on low-stakes decisions, such as a goal song or a training-kit design, and enter draws for experiences. During the 2021 bull market these tokens and CHZ itself rallied hard, partly on genuine fan interest and partly on speculation. The same pattern then ran in reverse: most fan tokens now trade far below their early peaks, a reminder that “utility” polls rarely support a token’s price on their own.
The US retreat (2021–2023)
In 2021 Chiliz announced a $50 million push into North America and signed deals with US franchises. Regulatory uncertainty over whether fan tokens could be treated as securities ended that. Chiliz left the US market in early 2023, and according to company representatives quoted by Cointelegraph it paused agreements with 13 NFL and 27 NBA teams.
Chiliz Chain 2.0 (2023)
Fan tokens first ran on a proof-of-authority sidechain controlled by a handful of nodes. Chiliz Chain 2.0, released in May 2023, is an EVM-compatible network forked from BNB Smart Chain, using a proof-of-staked-authority model in which token holders delegate CHZ to a limited set of validators. Because it is EVM-compatible, ordinary Ethereum wallets and tools work once you add the network.
Tokenomics 2.0 and the Pepper8 fork (2024–2025)
The Dragon8 governance proposal, applied to Chiliz Chain on 6 May 2024, introduced “Tokenomics 2.0”: inflation to pay validators and fund the ecosystem, plus a burn of most gas fees. The Pepper8 hard fork in August 2025 refined the schedule and folded in a one-time supply addition from the merger of Turkish exchange Paribu’s Paribu Net chain (PRB converting to CHZ).
2025–2026: SEC talks and the World Cup bet
On 22 April 2025 Chiliz representatives met the SEC’s Crypto Task Force to present a draft no-action letter arguing fan tokens are not securities, and reports said the company planned a $50–100 million US relaunch around the 2026 FIFA World Cup, co-hosted by the US. A February 2026 market note listed further plans, including omnichain fan tokens and a buyback funded by 10% of fan-token revenue. Treat these as announced intentions: we could not confirm from primary sources which had been delivered by October 2026.
How Chiliz works
The ecosystem has three layers:
- Chiliz Chain processes transactions. Validators are elected by staked CHZ, and every transfer or contract call pays a small gas fee in CHZ, most of which is burned.
- Fan tokens are tokens issued per club or property (for example $PSG or $BAR). Supply and sale rules are set at launch; holders vote in club polls and qualify for rewards.
- Socios.com and partner apps are where most users buy fan tokens and take part in polls, without ever touching a wallet address.
The economic link is simple: more fan-token trading and app activity means more on-chain transactions, more CHZ spent on gas and more burned. Whether that loop is large enough to matter is the central question for CHZ holders.
Tokenomics and supply
| Item | Detail (per Chiliz documentation) |
|---|---|
| Starting supply | 8,888,888,888 CHZ |
| Year-1 inflation | 8.80%, falling along an exponential curve |
| Long-run floor | 1.88% a year from year 14 onward |
| Projected supply by year 14 | About 15.05 billion CHZ before burns |
| Where new CHZ goes | 65% validators and delegators; 10% community vault and liquidity incentives; 25% ecosystem and operations |
| Burn | Most gas fees burned at protocol level; inflation can turn negative if burns exceed issuance |
On 17 June 2026 Chiliz said the annual inflation rate stepped down from 7.20% to 5.53%. Remember that the old “fixed supply” framing found in many older articles is no longer accurate: CHZ is now an inflationary asset with a burn, much like ether after EIP-1559.
How to buy and store CHZ
- Pick an exchange that lists CHZ in your country. CHZ is widely listed on large centralized exchanges; check that the withdrawal network you need (Chiliz Chain or Ethereum ERC-20) is supported.
- Buy with a limit order during liquid hours to avoid slippage.
- Choose custody. If you only want fan tokens and polls, the Socios.com app is the simplest route. If you want to control your keys, add Chiliz Chain to an EVM wallet; our MetaMask guide covers adding a custom network.
- Match the network on withdrawal. Sending ERC-20 CHZ to a Chiliz Chain address on an exchange that does not support it is a common way to lose funds.
Staking CHZ
Because Chiliz Chain uses staked authority, CHZ holders can delegate to validators and receive part of the 65% inflation share. Chiliz’s own projections show yields falling as more CHZ is staked and as inflation decays, so any headline rate is a snapshot, not a promise. Before staking, check the current reward rate, the validator’s commission and the unbonding period in the official staking interface, and compare options in our roundup of crypto staking platforms. Exchange staking is easier but means trusting the exchange with custody.
Risks: is Chiliz a good investment?
- Demand is event-driven. CHZ has tended to rally around big tournaments and fade afterward. The 2026 World Cup narrative cuts both ways once the event is over.
- Inflation. New CHZ is issued every block. If burns stay small, holders who do not stake are diluted.
- Fan-token economics. Poll rights rarely justify high token prices, and club partnerships can end.
- Regulation. The US return depends on regulators accepting that fan tokens are not securities. Rules differ widely abroad, as our regulation-by-country guide shows.
- Centralization. A small validator set and a company-led roadmap make Chiliz less decentralized than major layer-1s.
Bull case: a successful US relaunch and new leagues drive sustained on-chain activity that offsets inflation. Bear case: engagement fades after the World Cup and issuance outpaces burn. For context against other networks, browse our crypto coin directory.
FAQ
Is Chiliz the same as Socios?
They are linked but not identical. Chiliz is the company and blockchain; CHZ is its coin. Socios.com is the Chiliz-built consumer app where fans buy club tokens and vote in polls. You can hold CHZ without ever using Socios, and Socios users often hold fan tokens rather than CHZ itself.
Does Chiliz still have a maximum supply?
No. Since the Dragon8 upgrade in May 2024, CHZ has no hard cap. Inflation started at 8.80% a year and is designed to fall to a 1.88% floor by year 14, while most gas fees are burned. Chiliz’s own projection puts supply near 15.05 billion CHZ by year 14 before accounting for burns.
Can Americans use Socios and fan tokens?
Chiliz withdrew from the US in early 2023 because of regulatory uncertainty. In April 2025 it met the SEC’s Crypto Task Force about returning, and reports linked a relaunch to the 2026 World Cup. Check the Socios app’s current terms in your state before assuming access, because availability may have changed.
What do fan tokens actually let you do?
Fan tokens give holders votes in club-run polls, such as choosing a celebration song or a kit detail, plus entry to rewards like signed merchandise or match experiences. They do not give ownership, dividends or a say in sporting decisions. Their market prices are volatile and usually driven by speculation around big matches.
Crypto is volatile and risky; this is education, not financial advice. Do your own research.
