TL;DR
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Full Story
ICON (ICX) is transitioning into SODAX (SODA), a vertically integrated DeFi platform supported by the Unified Liquidity Layer. Alongside a new hub-chain in Sonic, this move brings leaner and more focused development under a single brand and token: SODA.
To support this, an initial test migration will begin on September 15th 2025, allowing you to get hands on with the SODA token and the new UI/UX for the SODAX platform as early as possible. Additionally, a migration SDK will allow partner platforms, such as Balanced and Hana, to support migration directly in their apps.
Be aware that as an early community test, SODA token will not have liquidity, staking or other DeFi activities available on Sonic during this period. Such activities will continue for $ICX on the ICON blockchain during this period and a two-way migration will allow holders to choose between migrating early, or continuing to use ICX in the meantime.
How the test Migration Will Work
With ICX available in your wallet, you will be able to proceed with migration from September 15th 2025:
ICX on the ICON chain will be redeemable 1:1 for $SODA on Sonic.
The migration will initially support two-way migration, allowing users to move assets between ICX (on ICON) and SODA (on Sonic) freely.
You will not need S tokens in order to receive your SODA, but will in order to transact on the Sonic chain after migration. Including to revert back into ICX.
Two-way migration will continue to be offered until the future release of SODA staking. Allowing holders to continue participating in DeFi, trading and staking through ICX.
An additional migration for bnUSD to new contracts will also be provided through the same migration frontend.
Details of the migration process for BALN tokens will be shared by the Balanced team.
This design allows for flexibility and a smoother transition, giving users and partner applications time to adopt the new infrastructure at their own pace.
Coordination with Centralized Exchanges
The team is currently in contact with centralized exchanges supporting $ICX. Details are still being finalized and further announcements will provide more information as the details of CEX migration are confirmed.
Why SODAX, and Why Now?
Over recent years, the ICON ecosystem has made major technical strides: a cross-chain messaging standard, support for intents-based solvers, and native interoperability across more than ten chains. The demands of this infrastructure, however, has outgrown the original network. Continuing to run the ICON layer 1 represents continuing unnecessary costs, without the operational benefits of more modern blockchains. By moving to Sonic, a high-performance EVM-compatible blockchain, these resources can be redirected toward protocol development and adoption.
Sonic’s architecture, including fast finality, parallel execution, and a builder-first fee model, offers a better foundation for SODAX’s next phase. With a focus on scaling DeFi applications.
Fee-driven growth with SODA
The SODA token will serve as the governance token of the SODAX platform. This supersedes both ICX and BALN, removing the need to maintain separate governance or utility tokens. $SODA will have a fixed maximum supply of 1.5 billion tokens and introduces an improved model for fee-driven growth, ensuring that protocol usage is harnessed as value for the SODAX ecosystem.
Generated fees will fund the DAO treasury, support staking rewards, fuel programmatic burns, and drive Protocol-Owned Liquidity (POL) growth for sustainable, fee-based expansion.
Grab a cup
The ICX to SODA migration is the next major step in aligning all elements of the SODAX DeFi platform under the single vision, shared earlier this year. Further updates, including step-by-step user guides will be shared in the coming weeks to support the community throughout this transition.
Stay connected during migration by following us on X, and joining our Discord.