On December 14, Binance announced the signing of a partnership agreement between it and token issuer Chiliz. The latter is particularly specialized in the sports and entertainment sectors with a solid fanbase around the world. The agreement provides that the last tokens dedicated to the teams of Paris Saint Germain (PSG) and Juventus (JUV) would now be available on the Launchpool platform. This would be the first step in a successful collaboration that should be long term.
Create an instant market for the development of the PSG and JUV tokens of Chiliz
The arrival of new tokens from Chiliz sure Launchpool should allow different users to stake their assets as is already customary on the platform. This is a program that lasts for a maximum of 30 days with exclusive rewards made up of new tokens. Thus, people taking part in this program will be able to bet Binance Coin (BNB), Binance dollars (BUSD) and Chiliz (CHZ) against PSG or JUV tokens. The offer which started on December 15 will experience a major event a week later with the opening of trading pairs between each of the tokens and the various assets involved.
Regarding the rewards plan, Launchpool notably planned to distribute at the end of this campaign 210,000 JUV tokens and nearly 180,000 PSG tokens. 70% of this amount should be reserved for the BNB pool, 20% for the pool Chiliz and the rest to members of the Binance Dollar pool. On the other hand, only 8.33% of the total reward will be distributed daily before the launch of the trading pairs. This figure should move down to 2.5% per day between December 21 and 28, then to 1.875% per day from December 29 to January 13.
Huge potential to bring crypto to the general public
Outside of football, Chiliz also plans to sign partnerships with teams from other sports disciplines still in collaboration with players in the crypto industry. As a reminder, the platform had already been able to count on the financial support of Binance during his first steps in the sector. This agreement should also be sustainable as indicated by the leaders of the two companies.
Binance CEO CZ then praised the approach taken by the partner platform, saying it had huge potential to bring crypto to the general public. For his part, the CEO of Chiliz Alexander Dreyfus expressed his satisfaction at the conclusion of the signing of this new deal between the two parties. ” This new partnership truly seals our original vision for the sports and entertainment industry over the next 5-7 years. “, did he declare.
Apart from its involvement with tokens derived from the world of sports and entertainment in general, Binance continues to diversify its activities. After the success of its bitcoin mining pool, the exchange has just launched another dedicated to Ethereum.