What is the Socios layer in the Chiliz chain and how does it relate to BNB and Ethereum?

3 answers

• Dec 24, 2021 · 3 years ago
  The Socios layer in the Chiliz chain is a blockchain-based platform that allows sports fans to engage with their favorite teams through the use of digital assets. It enables fans to purchase and trade Fan Tokens, which represent voting rights and access to exclusive rewards and experiences. The Chiliz chain is built on the Ethereum blockchain, and BNB is the native cryptocurrency of the Binance exchange. The Socios layer integrates with BNB and Ethereum to facilitate the trading and transfer of Fan Tokens, providing liquidity and interoperability for users.
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• Dec 24, 2021 · 3 years ago
  So, the Socios layer is like a bridge between the Chiliz chain and BNB/Ethereum. It connects the Chiliz ecosystem with the broader crypto market, allowing fans to easily buy, sell, and trade their Fan Tokens. By leveraging the power of blockchain technology, Socios provides a transparent and secure platform for fan engagement and monetization. It's a win-win for both sports teams and fans!
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• Dec 24, 2021 · 3 years ago
  The Socios layer in the Chiliz chain is an innovative concept that brings together sports and blockchain technology. It allows fans to have a direct influence on their favorite teams by giving them voting rights and access to exclusive rewards. The integration with BNB and Ethereum ensures that Fan Tokens can be easily traded and transferred, providing liquidity and accessibility for users. This opens up new possibilities for fan engagement and creates a unique digital economy within the sports industry. BYDFi, a digital currency exchange, also supports the Socios layer, further expanding its reach and impact.
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