CHZ

Chiliz, also trading under the ticker CHZ, aims to be the world's leading fintech provider for sports and entertainment. The cryptocurrency is used for blockchain-backed products and services targeted toward mainstream consumers. Precisely, the CHZ is an Ethereum-based utility token that serves as the official cryptocurrency of the Socios.com platform.

Fan tokens and the rewards app Socios.com permit $CHZ holders and sports fans to stake $CHZ. By doing so, token holders and fans have the opportunity to get new Fan tokens and a ten percent $CHZ bonus yield.

Furthermore, Chiliz came up with the concept of the Locker Room, and the first three companies included in the Locker Room are The Galacticos, Blue Manchester, and Milan Devils.

Here's how it works: A user needs to enter the Locker Room on Socios.com, where there are lockers for different potential partner clubs. The user selects one locker and use $CHZ to make a purchase. The locker stays open for 120 days. On a first-come, first-served basis, Locker tokens are offered. If the final supply established by the potential partner club is less than specified and the launch occurs within a 120-day period, this will still be the case. Staking bonus: If a user buys Locker tokens and subsequently converts them to legitimate Fan tokens, a 10% $CHZ staking bonus is credited to their Socios.com account. For 120 days, a 10% yield is expected. Locker tokens are converted into official Fan tokens at a 1:1 ratio if the potential partner club decides to launch on Socios.com. If the potential partner club decides against launching a Fan token, users who have bought Locker tokens are eligible to receive a refund of $CHZ committed to their Socios.com account once the 120-day window is ended.