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How to earn a passive return on Chilliz CHZ tokens

By matthewbrown | Matt Talks Crypto | 17 May 2021


I picked up some Chilliz tokens back when they were only $0.02 each. When they shot for the moon, I was pretty stoked! I sold off a 100% profit and thought I’d hold onto the rest in case of another jump. While there has been another spike since, I think there is more opportunity here so I’ve continued to hold. However, I’ve been wondering if there is a way to generate some extra passive income while I hold.

After doing some digging I’ve uncovered three possible streams of revenue for holding $CHZ tokens.

This isn't financial advice and you should do all your own research to determine if any of this is suitable for you.

1. Socios Locker Room

The Socios Locker Room is a way of showing your support for new team tokens on the CHZ network. Essentially, you 'stake' $CHZ in one of the lockers until a pre-defined date to help show the team that the community is interested in them joining Socios. In return if the new team joins Socios by that date, then you get a bonus in one of two ways, depending on the locker.

One locker type will return your $CHZ along with a $CHZ bonus (usually 10%). The other locker type converts your locked $CHZ into the fan token of the new team along with bonus team tokens (usually a 10% bonus).

Socios Lock-1

If the team doesn't join Socios by the set date and it looks like they might still join by a later date, a vote is held to approve extending the date by all locker room members, and usually involves a reward increase as well. If it looks like the team won't join or the vote doesn't pass, then all your $CHZ is returned to your wallet without any rewards.

The Socios Locker Room does present some excellent opportunities for some of the greatest rewards. However, they are dependent on Socios to sign new teams. There is a huge amount of opportunity here as Socios expands around the world and into new sports, but if there aren't any current opportunities available then your $CHZ is sitting idle.

Sign up for Socios using my referral link to go into the draw to win up to 5,000 $CHZ tokens.

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2. Binance Savings

Binance has recently also added $CHZ to their flexible savings platform with a yield of 1.00% and the ability to auto-subscribe so that your daily returns are automatically compounded.

I personally quite like the Binance Savings platform as it makes earning a return on $CHZ really easy and consistent. It's true, the earning rate isn't high, but it's also the highest of the earning options I've found.

Binance CHZ Flexible Savings

Being a flexible earning option, you can withdraw your $CHZ from Binance at any time. 

Sign up for Binance using my referral code to be eligible for discounted crypto trading fees.

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Binance referral code: D7J2UAE7 or 56920541

3. OKEX Earn

OKEX offers $CHZ as part of the OKEX Earn platform with flexible deposit terms. This is probably the easiest earning option I found that provides a reasonably consistent return.

I’ve seen the estimated APY vary from 0.67% up to 0.87% during the time I spent researching and writing this. It isn’t high by any means, but it is very easy to deposit and withdraw at any time with a consistent return that can easily be compounded.

OKEX Earn CHZ

The maximum $CHZ deposit is 3,000 $CHZ tokens.

Sign up for OKEX using my referral code to be eligible for $BTC bonuses on your first crypto trades and transfers into your OKEX wallet.

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OKEX invitation code: 4842273

4. KuCoin Lending

KuCoin offers $CHZ as a lending option. In other words, you can lend your $CHZ to other users and receive interest payments on it. KuCoin does allow you to set your own interest rates, but at the time of writing, currently offered rates are ranging between 0.36% annually up to 73% annually.

KuCoin Lending CHZ

Each loan is for 7, 14, or 28 days and there is an auto-lend option to help keep your loans active. However, the highly variable rates do indicate it may be difficult to maintain a consistently high rate of return.

**Signup for KuCoin using my referral code here**

KuCoin referral code: rJGK1MB

What about defi?

I was surprised that $CHZ hasn't really made its way into defi platforms at all. I could only find it on Uniswap or Sushiswap as a custom token import, and the same on PancakeSwap. Uniswap does appear to have some $CHZ pairs on Uniswap V2, though these don't appear to have made their way into V3 yet. Maybe I'm just blind? Please, correct me if I'm wrong about this or let me know if you spot $CHZ on a defi platform!

Summary

So far, Chilliz seems to have generally stayed out of the earnings space. I’m not sure whether that is entirely intentional or whether the token just hasn’t really been picked up on DeFi platforms, resulting in less opportunity to earn from your holdings, and very low yields from the opportunities that do exist.

Regardless, there are options available with OKEX offering the simplest and most consistent earning opportunity for up to 3000 $CHZ.

The KuCoin lending option does facilitate potentially higher returns, but it is also potentially less consistent.

Socios does offer a decent opportunity for return, but there aren't always lockers available, and sometimes the return is in a different coin that has an unknown value.

Have you got any other ways of earning a return for hodling your $CHZ tokens? Let me know down in the comments and make sure you upvote if you found this helpful!

If you like this article, you might also like my YouTube Channel, Twitter feed and blog.

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Cover image credit: https://pixabay.com/vectors/tap-money-passive-income-dollar-6039919/

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Matt Talks Crypto
Matt Talks Crypto

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