Chiliz has announced a significant update, rescheduling the previously postponed Dragon8 Hard Fork for June 17. This development brings exciting changes for both developers and the broader Chiliz Chain community, enhancing the overall ecosystem.

Improved Developer Experience

The hard fork enables developers to utilize the latest Solidity version (v0.8.25), ensuring compatibility with the evolving Ethereum ecosystem. This upgrade allows developers to leverage new features, opcodes, and precompiles, optimizing their smart contract capabilities. Additionally, the update supports type 2 transactions under EIP-1559, streamlining transaction fee management and making applications more predictable and economically efficient.

Token Economics 2.0

The Dragon8 Hard Fork introduces significant changes to the token economy, elevating the CHZ token's role in governance and ecosystem operations. The updated model features a decreasing annual inflation rate, starting at 8.80% and stabilizing at 1.88% after 14 years. A transaction fee burning mechanism encourages long-term participation and aligns with leading Layer-1 protocols, ensuring CHZ's utility and longevity.

Conclusion

The Dragon8 Hard Fork marks a significant milestone for Chiliz, enhancing the developer experience and token economics. These updates ensure the Chiliz Chain remains competitive, sustainable, and engaging, promoting growth and participation within its ecosystem. With the new hard fork date set, the community eagerly anticipates the benefits and opportunities that come with these exciting changes."