KAYEN Protocol Brings Decentralization to Chiliz Chain

KAYEN Protocol launched the SportFi DEX mainnet and Launchpad testnet on Chiliz Chain on August 8th 2024 08:08:08 UTC, marking a pivotal milestone in the integration of crypto with sports fan engagement. 

Chiliz is the home of SportFi. Its infrastructure is driven by the Chiliz Chain, the first Layer-1 EVM compatible blockchain for sports and entertainment, fueled by Chiliz native token CHZ. 80+ Fan Tokens of the world’s largest sports entities provide the gateway into the Chiliz ecosystem.

Its flagship product on the Chiliz Chain, Socios.com, hosts a global community of over two million users, which makes it the largest non-finance/trading-centric web3 consumer-facing product globally by user base. Chiliz has partnerships with countless brands, including the giants of world sport such as FC Barcelona, Paris Saint-Germain, Manchester City, Juventus, S.S.C Napoli, Inter Milan, AC Milan, Arsenal, Atlético Madrid, A.S. Roma and major F1 teams.

KAYEN Protocol emerges as the vanguard of this decentralization movement, building the state-of-art DeFi hub starting with the SportFi DEX for Fan Tokens and also a Chiliz Chain-native Launchpad for more SportFi projects. As the first-mover for DeFi on a $1B chain, KAYEN has already secured $10M TVL on July 28th, even before launching. The early community and financial traction underscores the market’s recognition for the DeFi ecosystem on Chiliz. 

Furthermore, Fan Tokens on Chiliz Chain have zero decimal places, but users typically prefer the flexibility to trade in smaller units. To address this, KAYEN wraps Fan Token to 18 decimal places for DEX use. Wrapped tokens maintain the same value as original Fan tokens and can be exchanged back anytime.

To foster community engagement, KAYEN Protocol is running an airdrop program called the KAYEN LEAGUE. The program incentivizes users to participate in community and transaction missions, offering the dual benefits of potential token rewards and early access to the ecosystem’s features.

For detailed information about the KAYEN Protocol, please visit: Website.

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