Binance announced that it would list CITY token on November 10, 2021. The exchange will also open trading for CITY/BNB, CITY/BTC, CITY/USDT, and CITY/BUSD trading pairs later today. Token holders can use Manchester City Fan Token on Socios.com. The latter is an app built on the Chiliz blockchain. The company behind this platform, Socios, has already created fan tokens for several other football clubs. The most well-known among them are PSG and fan tokens for UFC and car racing.
Fan tokens are pretty advantageous because they give holders a stake in the club’s governance, allowing users to unlock VIP rewards, influence decisions, and exclusive access games, promotions, and special recognition.
PSG’s launch in January 2020 was a great success. Thus, Manchester City Football Club decided to launch another token – CITY in March 2021. However, its success will depend on the club’s success on the pitch, as well as the development of blockchain technology. For instance, the token price soared due to the rumor that Cristiano Ronaldo was joining the club but declined again after the transfer failed to go through.
Is Manchester City Fan Token worth buying?
There are numerous tokens in the Defi space, and new ones are added daily. However, not all of them are worth investing in. After all, buying a token isn’t only for fans; users want to profit with them, as well.
However, the sport and game sectors prove to be quite profitable. And Manchester City Fan Token gives fans access to earn unique club-specific rewards and experiences. It also represents ownership of a voting right. As a result, fans will be able to visit the player area in the stadium, influence what message the captain should wear on his armband, or receive rights to watch a match in the VIP zone. They will also get discounts on club merchandise.
Socios.com listed CITY for trading on its platform, and while that remains so, fans can acquire the token and a stake in the club’s governance at the same time. Stephan Cieplik, the senior vice president of global partnerships sales at City Football Group, noted that every club fan would be eligible to receive a free CITY token.
What about its benefits?
Token holders will have lots of benefits. They will participate in the decision-making process through voting in polls and have the opportunity to win prizes in quizzes and contests on Socios.com. There will also be cashback rewards from the club.
Furthermore, the company plans to introduce more features to fans in the future. Users will be able to purchase VIP goods, as well as services with the club’s branding. They could also stake the fan tokens for NFT rewards and earn bonus rewards for participation in the club’s governance. Moreover, fans will benefit from the integration of CITY in partner applications.
Investors or fans can buy CITY with fiat or by swapping CHZ for it. Consequently, the price and growth of CHZ will influence the price and growth of CITY tokens.
How is the founder of the CITY token?
As we have already mentioned, Socios.com founded Manchester City Fan Token. Powered by Chiliz, this app allows sports fans to engage with their favorite associations and clubs. Alexandre Dreyfus is the founder and the CEO of Chiliz. Dreyfus has more than 20 years of experience creating and growing web-based companies. Among others, he developed Winamax, Webcity, and Chilipoker. And he founded Chiliz in 2017.
Ethereum Name Service (ENS) token is already available
Binance is also listing ENS tokens today. The company is planning to open trading for ENS/BNB, ENS/BTC, ENS/USDT, and ENS/BUSD trading pairs on November 10, 2021.
The Ethereum Name Service is an open, distributed, and extensible naming system created on the Ethereum blockchain. This project aims to map human-readable names such as ‘alice.eth’ to machine-readable identifiers such as cryptocurrency addresses, Ethereum addresses, metadata, and content hashes.
The company also created its native utility token ENS to use for governance. Token holders will be able to vote on the use of treasury grants, as well.
ENS’s goals are similar to the Internet’s Domain Name Service (DNS). However, it has a significantly different architecture because of the various capabilities and constraints provided by the Ethereum blockchain. ENS operates on a system of dot-separated hierarchical names (also called domains) like DNS. And the owner of a domain has complete control over subdomains.
Smart contracts, called registrars, own top-level domains, like ‘.eth’ and ‘.test,’ though. They specify rules governing the allocation of their subdomains. As a result, anyone can obtain ownership of a domain for their own use by following the rules imposed by these registrar contracts. The service supports importing in DNS names for use on ENS if the user already owns them.
ENS has a hierarchal nature. Thus, anyone who owns a domain at any level will be able to configure subdomains. For example, Alice can easily create ‘pay.alice.eth’ if she owns ‘alice.eth’, and later configure it as she wishes. Currently, ENS is deployed on several test networks and the Ethereum main network.
What about Rari Governance Token (RGT)?
Rari Governance Token (RGT) is also available on Binance. The exchange-listed it on November 5, 2021. This token is very popular, as well, like the former two. Users can participate in trading RGT/BNB, RGT/BTC, RGT/USDT, and RGT/BUSD pairs.
Rari Capital is a relatively new Defi protocol. It allows customers to borrow, lend and earn yields on various crypto assets. Furthermore, the platform offers a wide range of products such as customizable borrowing and lending pools, tranched stablecoin pools, and more. RGT is the governance token of the platform, and investors can use it to vote on governance proposals.
In addition, holding $RGT will give users several benefits. They will be able to make decisions to integrate new protocols, edit risk parameters, edit pool parameters, etc. If a pool accumulates other tokens like $BAL or $COMP, this token can serve as a passthrough for their governance. Customers will also get fee discounts from the Rari Protocol. And they will have the opportunity to stake the tokens or participate in liquidity mining. Overall, this token has strong potential.
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