Paris, 18 Feb 2025:— Chiliz, the leading blockchain provider for the sports and entertainment industry, is thrilled to announce the launch of Fan Token Staking on Socios.com Wallet, introducing a new way for Fan Token holders to access exclusive rewards. The innovative staking program allows Fan Token holders to lock their tokens in smart contracts and in return receive reward points daily from a set pool.
Fan Token Staking enhances the utility of Fan Tokens by offering a passive way to earn Reward Points—simply stake your tokens once and earn daily rewards, making it the most efficient and rewarding method compared to previous engagement features. Key features of the Fan Token Staking program include:
- Daily reward points distribution at midnight (UTC)
- Flexible unstaking options with a 7-day cooldown period
- Integration with existing platform activities
- Compatible with all active Fan Tokens on the Socios.com Wallet
“Fan Token Staking is a game-changer for our ecosystem,” said Alexandre Dreyfus, CEO of Chiliz. “We’re empowering fans by giving them a new way to engage with their favorite teams while earning valuable rewards in the process. It aligns with our vision of strengthening Fan Tokens through blockchain-powered engagement opportunities.”
The process is simple and user-friendly:
- Stake: Users can lock their Fan Tokens directly from their Socios.com wallet or team page. Please note that users can utilize their tokens for activities on the platform even whilst the tokens are locked.
- Earn: Locked tokens generate daily Reward Points, calculated based on the market cap and the current price of the Fan Token.
- Unstake: Users can unstake their tokens at any time, but they will stop earning Reward Points immediately.
- Claim: After a 7-day cooldown period, users can claim their unstaked tokens and use them for trading.
The staking program has been designed with user experience in mind, featuring an intuitive interface that allows fans to easily stake, unstake, and monitor their rewards. The feature will be rolled out to all Socios.com users, with restrictions applying in specific jurisdictions.
For more information about Fan Token Staking, visit Socios.com.
