In February 2026, Chiliz committed 10% of Fan Token revenue to open-market CHZ buybacks and burns. Net issuance turned negative for the first time in March. This page tracks the executed mechanism on-chain.
February 2026 was the regime catalyst. Chiliz committed 10% of all Fan Token revenue to open-market CHZ buybacks and burns, breaking eight years of inflation-only supply mechanics.
9.2M CHZ burned in April alone, roughly 50× the prior monthly baseline. Cumulative buyback burns now sit at 20.1M, verified directly from the on-chain destination.
CHZ moved +50% from Feb low to Apr over the same window. Coincident with the announcement, not statistically attributed (no beta adjustment).
Free float compressed from both ends: 76.4% tradable today, 23.4% staked, 20.1M permanently removed. The flywheel scales with Fan Token engagement and the 2026 World Cup is the primary upside catalyst.
Net deflation crossover modelled by 2030 under Astra Research's central case, contingent on the 10% commitment holding and Fan Token revenue compounding.
LiveAs of on page loadOn-chain snapshot 30 Apr 2026, 16:00 UTCChain ID 88888Run-rate: April 2026; pre-tournament; not seasonally adjusted.
April burn (on-chain)
9.2M
▲ 50x prior monthly baseline
Annualised (Apr × 12)
110M
1.06% of supply
CHZ price
$0.0492
▲ 50% from Feb low (window)
Market cap (derived)
$508M
10.33B CHZ circulating
01 · THE CATALYST
Feb 2026: the moment CHZ flipped
Mechanism: 10% of Fan Token revenue routed to open-market CHZ buybacks; purchased CHZ sent to a permanent burn destination. Per the Chiliz 2030 roadmap announcement.
Execution speed: 24 days from announcement to first executed burn (Feb 9 → Mar 5 first transfer to burn destination).
The flywheel, end to end
2018 TO 2025
CHZ inflated annually
No burn, no buyback. Pure issuance currency.
FEB 2026
Buyback program announced
10% of FT revenue buys CHZ from open market
MAR TO APR 2026
First burns executed
9.2M CHZ removed in April per official report
TODAY
Flywheel is live
Burns scaled around 50x prior baseline
$CHZ · LIVE PRICE · 180D
Chiliz / USD
$0.0000+0.0%over 180D
Live data from CoinGecko. Dashed verticals mark the announcement and first burn.
April's $452K-equivalent burn implies ~$50M annualised Fan Token revenue at the 10% buyback rate. Range is sensitive to tournament seasonality and partnership cadence; Chiliz does not publish quarterly revenue.
EVENT CALENDAR
Scheduled and announced events through 2026
Forward events that affect the burn pace, staking ratio, or Fan Token revenue base. Schedule only; no directional bias attached.
When
Type
Event
May '26
Burn report
Next scheduled monthly burn report from Chiliz.
Jun '26
Tournament
FIFA World Cup group stage.
Jul '26
Tournament
FIFA World Cup knockout rounds. Fan Token Play (win/burn for club tokens) active across competitive matches.
Q3 '26
Roadmap
National Team Tokens launch per the Chiliz 2030 roadmap.
Q4 '26
Period
Post-tournament window. First observation of burn pace outside a tournament cycle.
Forward dates indicative; subject to Chiliz roadmap updates. Schedule sourced from Chiliz public announcements and FIFA fixtures.
02a · CUMULATIVE
20.1M removed, verified on-chain
20.1M CHZ sent to the buyback burn destination since March 2026, verified directly from on-chain.
02b · MONTHLY
Pace is compounding, not flattening
March 10.86M, April 9.25M, on-chain. Both at least 50x the prior baseline (~0.2M / month).
Pace tracks Fan Token engagement directly, so the burn rate is a proxy for ecosystem usage.
03 · LONG-TERM SUPPLY MATH
The path to net deflation
Issuance decays from 8.8% in 2026 to 1.88% by 2040, on a programmed schedule.
Burn curve crosses issuance curve by 2030 under the central case.
From crossover onward, CHZ supply contracts every year.
03a · INFLATION DECAY
Issuance schedule
03b · NET SUPPLY PATH
Issuance vs. burns
COMPARABLES
Where CHZ sits versus other deflationary tokens
CHZ run-rate placed alongside other major deflationary programs. Programs are not directly comparable due to mechanism heterogeneity, but the table contextualises pace.
Token
Market cap
Annual burn
Mechanism
Source
MKR
$1.5B
2.30%
Surplus-linked
DSR
BNB
$83B
1.50%
Profit-linked auto-burn
Quarterly
CHZsubject
$0.5B
1.06%
Revenue-linked (fan token 10%)
Apr '26 run-rate*
ETH
$223B
0.20%
Fee-burn (transactional)
EIP-1559
Mechanism notes: MKR burns are surplus-linked (DSR-driven). BNB is profit-linked (corporate auto-burn). ETH is fee-burn (transactional). CHZ is revenue-linked (10% of Fan Token revenue). *CHZ figure annualised from one month, not seasonally adjusted.
04 · FREE FLOAT
7.89B tradable. Float is drifting up as stakers exit.
Staking ratio fell from 25.8% to 23.4% over 6 months, moving 409M CHZ from locked to tradable. Burns clawed 20.1M of that back.
Net effect: stake exits added 20x more to float than burns removed. For float to compress, either burns scale or stakers return.
Free float (tradable)
7.89B CHZ
76.4% of circulating supply
Locked in staking
2.42B CHZ
23.4%, across 13 validators
Cumulative burned
20.1M CHZ
≈ $0.99M, verified on-chain
6M free float change
+409M CHZ
+5.5%, mostly stake exits
Data sources: Staked CHZ read directly from validator system contract 0x0000...1000. Cumulative burns read from buyback destination 0x0000...0000 (10.86M burned mid-March, 9.25M mid-April, both verifiable on-chain). Circulating supply from CoinGecko historical market caps. 13 active validators today (Chiliz docs cite the original 11).
05 · STAKERS
450 stakers, 13 validators, top three hold 35% of stake
Top three validators (by stake) hold 35% of total stake across 218 of 450 unique stakers. By stakers count, the most-supported validator captures 36% of unique addresses on its own.
Stake events outnumber unstake events 3,012 to 2,276 (1.32:1), but net stake balance still drifted lower. Average unstake size materially larger than average stake; exits concentrated, entries fragmented.
Unique stakers
450
over the last ~7 months
Stake events
3,012
delegations submitted
Unstake events
2,276
76% of stake event count
Top validator share
36%
160 stakers, concentration risk
Validator roster
#
Validator
Stake (CHZ)
% share
Stakers
Concentration
Data: Per-validator stake from getValidatorStatus(address) on validator contract 0x0000...1000. Stakers count from Stake event logs on staking contract 0x0000...7001, 7-month sweep ~6M blocks, deduplicated.
METHODOLOGY & SOURCES
How every number on this page is computed
Cumulative burned (verified)
20.1M CHZ
Native balance of 0x0000...0000, queried at snapshot block via eth_getBalance.
Total staked CHZ (verified)
2.42B CHZ
Native balance of validator system contract 0x0000...1000 via eth_getBalance; per-validator delegation read via getValidatorStatus(address).
Stakers count (verified)
450 unique
Stake(address validator, address staker, uint256 amount) event logs on staking contract 0x0000...7001; 7-month sweep, ~6M blocks, deduplicated by staker address.
Circulating supply (derived)
10.33B CHZ
Computed as market_cap / price from CoinGecko historical series. Third-party derived; not on-chain.
Spot CHZ price (live)
$0.0492
CoinGecko Pro API at page load; updated via background fetch on tab change.
Annualised run-rate (modelled)
~110M CHZ
Assumption: April 2026 burn (9.2M) × 12. Caveats: single month; pre-tournament; no seasonal adjustment.
2030 deflation crossover (modelled)
Year 4
Assumption: burn pace compounds at observed run-rate; CHZ inflation decays per Tokenomics 2.0 schedule (8.8% → 1.88% over 14 years). Crossover when annual burn exceeds annual issuance.
RPC: Ankr public Chiliz endpoint. Chain ID 88888. Snapshot cadence: weekly historical, daily forward. All on-chain queries reproducible via the addresses and method signatures above.
RISK FACTORS
Three things that break the thesis
Buyback paused or reduced: Chiliz reserves the right to alter the 10% allocation. The supply-side math depends on the commitment holding.
Fan Token revenue contraction: Burns scale linearly with FT revenue. World Cup miss, partnership churn, or marketplace decline shrinks the buyback base.
Stake exits keep outpacing burns: Unstaking has run 20x ahead of burns over 6 months. If that gap widens, float grows despite the buyback.
Background risks tracked but not central to thesis: validator concentration (top 3 = 35% stake), regulatory action on Fan Tokens, broad crypto beta drawdowns.
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