ICX | Enshrine & Burn (@poweredbyicx): The Next Chapter for ICX

The Next Chapter for ICX Over the last year, ICX has converted its work on interoperability into seamless chain agnostic DeFi products, #poweredbyicx. With Network Owned Liquidity continuing to grow, and the ICON Solver building on its efficiency, the time has come for a major evolution — one that solidifies our vision, optimizes our applications, and ensures long-term sustainability. 👉 For the full story, first head to the ICON Community Foru (https://forum.icon.community/t/soda-xchange-sodax-icon-s-next-chapter/3992)m. 🖼️ https://pbs.twimg.com/media/GqLyh_FX0AEgTJX.jpg Today we introduce our evolution into SODAX ( https://x.com/gosodax ) — a fully integrated DeFi platform designed to maximize capital efficiency, unify liquidity, and accelerate the flywheel of fee reinvestment for the long-term sustainability and growth of SODAX. Welcome to the biggest transformation in ICX history. Here’s what you need to know. What is SODAX? A vertically integrated, capital-efficient DeFi platform. A consolidated suite of DeFi products, designed to optimize liquidity. A single token model to simplify economics and concentrate value. Balanced — A SODAX Brand https://x.com/balanceddefi has been a cornerstone of the DeFi landscape for ICX, and will be joining us as we continue our journey as SODAX. Balanced has already demonstrated the power of economic enshrinement, burning almost 1M $ICX since enshrinement. We plan to expand SODAX with further products to grow this model exponentially. Look forward to new products offering: Concentrated Liquidity Market Maker Automated Money Market Dollar Cost Averaging Perpetuals Alongside all you’ve come to expect so far from https://x.com/balanceddefi and https://x.com/hanawallet. 🖼️ https://pbs.twimg.com/media/GqLyo2oW0AErb1F.jpg One of the biggest changes coming with SODAX is the full merger of $ICX and $BALN into $SODA — a new deflationary token designed for long-term sustainability. 1.5B max supply. 50% reduction in emissions. 2x increase in token buyback & burns. By finally unifying the token model, every single transaction, integration, and expansion directly benefits $SODA. $ICX holders will be able to migrate to $SODA at a 1:1 ratio. $BALN holders will receive varied $SODA allocations (https://gov.balanced.network/t/sodax-announcement-next-steps/1193), rewarding long-term supporters. A New Hub Chain To fully realize our vision, SODAX will migrate from ICON’s hub chain infrastructure to https://x.com/sonicworldhq — a high-performance EVM Layer-1 that will enable scalable, low-cost transactions while eliminating validator overhead. Why Sonic? Near-instant transactions & lower fees: DeFi thrives on efficiency. Fee Monetization (FeeM): up to 90% of transaction fees are redistributed to builders. EVM compatibility: Seamless integrations with Ethereum-based DeFi. No validator overhead: No more ongoing costs of running an L1 chain. The transition to Sonic allows us to build, iterate, and expand faster than ever before, unlocking greater efficiency and reducing network costs for both developers and users. ICON’s validator network will remain active during the transition, ensuring stability as we progressively migrate liquidity and governance to new infrastructure for SODAX. Next Steps In the coming days, we’ll launch a series of network proposals requiring immediate validator action. The first will be a vote to approve the plan outlined above. Subsequent proposals will then address specific steps in ICON’s transition to SODAX. Validators are urged to stay informed via the proposal tracker and ICON Discord alerts. ICON and SODAX will coexist for a period as we execute this phased transition. The launch of SODAX and the migration to Sonic are just the beginning, let’s take DeFi to the next level. Over the coming weeks, we’ll release: Detailed migration timelines. Technical guides for developers and users. More information on the future of governance & council structure. Community AMAs to address questions & concerns. For all of the information on the changes on their way to the ICX ecosystem, be sure to check out our discussions on the ICON Community Forum (https://forum.icon.community/t/soda-xchange-sodax-icon-s-next-chapter/3992), and Balanced forum (https://gov.balanced.network/t/sodax-announcement-next-steps/1193). Are you ready for https://x.com/gosodax? 🥤 Share your thoughts below and on our Discor (https://icon.community/icondiscord)d!