Binance teams up with Chiliz

Leading cryptocurrency exchange Binance is entering into a partnership agreement with Chiliz, a creator and issuer of sports and entertainment fan tokens.

Under the partnership, Chiliz's Paris Saint Germain (PSG) and Juventus (JUV) tokens will be the latest to arrive on the dedicated Launchpool platform that allows users to lock in their tokens for a period of 30 days and farm rewards.

The assets are also listed on Binance, providing an instant marketplace for any farmed assets and encouraging further engagement from the community.

Starting today, consumers may stake Binance Coin (BSB), Binance Dollar (BUSD), and Chiliz (CHZ) against PSG or JUV tokens.

Later, on December 21, Binance will allow trading pairs between BSB, BUSD, and CHZ. The total rewards amount to 210,000 JUV and 180,000 PSG tokens and they will be allocated based on how many BSB, BUSD and CHZ tokens a consumer has.

The bulk – around 70% – will go to BNB pools, with 20% to Chiliz and 10% to BUSD. Binance is hopeful that this initiative will help more mainstream audiences experience crypto in a fun and engaging way.

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Written by Alex

Reporter

Alex is a well-rounded crypto writer who focuses on general market and legal developments. His main interest lies in how crypto gaming can become a more permanent part of the gaming landscape and how blockchain holds benefits to players they are not even aware of.