Sports and entertainment public chain Chiliz posted on the X platform that the Dragon8 hard fork has been launched on the Spicy test network.
Chiliz Chain CEO Alexandre Dreyfus said that once the test is completed, a governance vote will be held to deploy on the main network. The hard fork will have an important impact on the CHZ token economics and network governance rules.
Previously in February, Chiliz released the Chiliz Chain token economics 2.0 version on the X platform. The CHZ inflation rate will decrease from 8.8% year by year until it drops to 1.88% after 14 years and remains unchanged every year thereafter. In addition, regarding the transaction fee destruction mechanism, Chiliz Chain will implement EIP-1559, in which the vast majority of accumulated gas fees will be destroyed at the protocol level.