Summary
- The Icon(ICX) Foundation announced a rebranding to Soda Xchange(SODAX).
- It stated that the migration from ICON to the Sonic blockchain aims to reduce operating costs and increase scalability.
- ICX and BALN will be migrated to SODA at a 1:1 ratio, concentrating on a single token for SODAX.
The Icon(ICX) Foundation announced on the 5th (local time) through its official channel that it will rebrand to Soda Xchange(SODAX). This is a vertically integrated DeFi app platform, and as part of this, the hub chain infrastructure is being migrated from ICON to the Sonic blockchain.
It is explained that this can reduce operating costs and enhance scalability and protocol fee potential.
Furthermore, the migration of ICX and BALN to SODA is being promoted, concentrating on a stronger single token for SODAX. The migration will proceed at a 1:1 ratio.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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