Chiliz (CHZ), a company focused on blockchain solutions for sports and entertainment, has announced the activation of the “Dragon8” hard fork on the Chiliz Chain.

As per the official announcement, this update includes a new tokenomic model and technological enhancements. The hard fork is scheduled to be launched on the mainnet on May 21, 2024.

The hard fork will fully implement the previously revealed Chiliz Chain Tokenomics 2.0. This new model features a structured annual inflation rate that starts at 8.80% and gradually decreases to settle at 1.88% after 14 years.

In addition to the updated tokenomics model, the hard fork will also introduce significant improvements aimed at developers, including the latest version of Solidity. This will enable developers to utilize new opcodes and initial builds, enhancing the current tools available for creating advanced smart contracts on the Chiliz Chain.

Alexandre Dreyfus from Chiliz expressed pride in the launch of Dragon8. He stated that the implementation of Tokenomics 2.0 is meant to enhance long-term value and sustainability for the network, ensuring that Chiliz Chain remains a top blockchain option for the sports and entertainment industry.

*Please note that this information is not intended as investment advice.