TL;DR
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Full Story
Since its beginnings, ICX has been committed to interoperable solutions, a vision that began to be realized throughout the last year, building out chain agnostic DeFi products, powered by ICX. As we continue to utilize our growing Network Owned Liquidity, and expand on our Intents-based trading through the ICON Solver — Today, we are excited to announce our next major leap: introducing SODAX
ICX Evolves: Welcome to SODAX
SODAX is a unified, capital-efficient DeFi platform that brings together the innovations, powered by ICX, under one banner. Alongside our rebrand to SODAX, we will also officially migrate our hub chain infrastructure to the Sonic blockchain, a high-performance EVM Layer 1 with unique fee monetization that rewards builders. This move allows us to optimize liquidity, lower costs, and accelerate DeFi development.
What’s Changing?
SODAX – ICX is evolving into SODAX, consolidating all enshrined DeFi products under one vertically integrated DeFi platform.
Balanced – The Balanced protocol will become the first affiliate partner of SODAX, alongside new core products.
$SODA – A new, deflationary token will replace $ICX and $BALN, with a fixed supply of 1.5 billion.
Sonic – We are migrating our hub chain infrastructure to Sonic’s scalable infrastructure to increase efficiency, reduce costs, and eliminate validator fees.
Why This Matters
Our mission hasn’t changed — we will create the most capital-efficient, chain-agnostic DeFi platform. By merging liquidity, simplifying governance, and adopting a more sustainable token model, SODAX will unlock its true growth potential.
ICON’s validator network will remain operational during this transition. Over time, as SODAX takes shape, we will provide clear guidance on ICON’s phased retirement, while ensuring a smooth migration.
Next Steps
For more details on the changes detailed above, you can find the detailed plan on the ICON Community Forum. Further information on the future of Balanced, and its token BALN, can also be found in the Balanced forum. This is just the beginning of our most exciting chapter yet. Stay tuned for more updates on:
Migration timelines and how $ICX holders can swap for $SODA.
Governance structure, including new council roles.
New DeFi products launching under SODAX.