What is wCHZ?

Since CHZ is the native token of the Chiliz Chain, it is not in itself a Smart Contract, but instead it is part of the Chiliz Chain’s consensus mechanism and system contracts. Wrapping tokens is a common practice in blockchain in order to make a token more easily compatible with other protocols.

The main reason for the creation of wCHZ was so that CHZ can become a CAP-20 token standard (the Chiliz Chain’s equivalent of the ERC-20 token standard on Ethereum) and be more easily integrated into decentralized applications (dApps) which do not support native tokens but only smart contracts. wCHZ is pegged to the value of CHZ and can be unwrapped at any point.