Lorenzo Stroe
Independent Analyst
- The newest Binance launchpool includes two tokens, JUV and PSG.
- Both tokens are created on the Chiliz network and they provide access to premium services.
Chiliz is a blockchain platform focused on sports tokenization where users can buy and trade branded fan tokens. Binance has announced the launch of two different launchpools featuring football teams Juventus Fan Tokens (JUV) and Paris Saint-Germain Fan Tokens (PSG).
What are fan tokens and how do they work?
The main purpose of fan tokens is to grant users access to voting rights and other fan-centric utilities that different teams can pick. Fan tokens are associated with a specific team and they have a finite supply.
These tokens are fungible and can be exchanged against Chiliz (CHZ) tokens on any fan token exchange provider that’s approved on the Chiliz blockchain. Binance has just announced the launch of JUV and PSG farming platforms which will both be listed against BTC, BUSD and USDT on December 21 at 6:00 AM, UTC.
Binance customers will be able to stake BNB, CHZ or BUSD to farm the tokens. The event will last for 30 days until January 13, 2021. Both Juventus and Paris Saint-Germain Fan Tokens can be staked in the future and will reward users with Non-Fungible Token (NFT) rewards.
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