Chiliz to expand over 70 fan tokens to Solana and Base

Chiliz (CHZ) has announced it will expand over 70 of its fan tokens to the Solana and Base networks to boost trading activity. According to CoinDesk, Chiliz launched its own Layer 1 network in 2023 to support token trading but now plans to shift to an omnichain model. By using the Omnichain Fungible Token (OFT) standard, the tokens will have a unified supply across each supporting chain, eliminating the need for wrapped tokens or fragmented liquidity pools. Chiliz stated that the expansion ahead of this summer's FIFA World Cup is expected to help increase trading volume, adding that more tokens are scheduled for release in June.