Chiliz (CHZ)

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## Basics

* Based in: Malta
* Chiliz is a fintech platform for the sports industry to allow global fans to get closer to their favorite sports teams and clubs.
* NFT fan tokens.

## Audits & Exploits

* Bug bounty program can be found [insert here].
* "Certik Certified" according to their website (9-8-2021).

## Token

### Launch

* From their FAQ (6-3-2021):

*"Chiliz raised all funds through private placement in 2018, meaning that there was not, & never will, be a public sale."*

### Token Allocation

* Has a maximum supply of 8,888,888,888 tokens. From their website (9-8-2021):

1. Private Placement 3,066,666,666
2. Chiliz issued to Team + Seed Investors 1,111,111,110
3. Chiliz issued to Advisory Board 266,666,666
4. Userbase Reserve 1,777,777,780
5. Marketing Operations 1,333,333,333
6. Strategic Acquisitions 1,333,333,333

## Technology

* Whitepaper can be found here (V2.3 13-11-2018).
* Code can be viewed [insert here].

### Implementations

* Built on: Ethereum and BSC plus their own PoA Chiliz sidechain.

### How it works

* Is very clear and even supportive of their permissioned model "A POA chain is more secure". From their FAQ (6-3-2021):

*"Ethereum supports the Proof-of-Authority consensus mechanism. Proof-of-Authority (POA) can be used for permissioned chain set ups. POA does not depend on nodes solving arbitrarily difficult mathematical problems, but instead uses a set of ‘authorities’ — nodes that are explicitly allowed to create new blocks and secure the blockchain. The chain had to be signed off by the majority of authorities, in which case it becomes a part of the permanent record.*

*There are a lot of similarities between Fan Tokens and any cryptocurrency token — both are tokens created in an Ethereum blockchain for example, in the main Ethereum network for the Chiliz token and in the Chiliz permissioned sidechain for Fan Tokens. You can view the block explorer for the Chiliz sidechain here."*

## Pros and Cons

### Cons

* Centralized. And is being dishonest about the trade off with their PoA system, which is basically centralized, claiming it is more secure (6-3-2021).

## Team, Funding and Partners

### Team

* Full team can be found here.
* HX Entertainment Ltd. (9-8-2021)

### Funding

* From their FAQ (6-3-2021):

*"Chiliz raised just over $66 million through private placement in 2018. Binance is also a strategic investor in Chiliz."*

### Partners

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