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There was a previous HN discussion about this: "Chez Scheme as the Racket VM" [0] which you may find insightful.

That discussion links to a Google Groups page where Matthew Flatt discusses the background, status and plan going forward.

Thanks for the link. I was going to ask myself how i missed this, then realized I have one of the first comments :)

The github repo is called racket7: www.github.com/racket/racket7

First and foremost it will mean that much more of racket will be written in racket, and some in r6rs scheme.

If they can capitalize on chez's preformance that would be even better. It is really a state of the art compiler for GCd dynamic languages.

Yup. Racket is very slow especially the ide when interpreting simple scripts.

Correct