The ICON Network, a Layer 1 blockchain platform, will shut down on December 31, 2026, as announced by SODAX, a cross-chain liquidity layer platform. This marks the end of nearly nine years of operation for ICON. The network will transition to a read-only state, preserving historical data access. Users must migrate their ICX tokens to SODA by the same date, as post-deadline migrations will not be possible. Starting September 30, 2026, only one-way migration from ICX to SODA will be supported, ending two-way trading. SODAX's decision to close ICON is driven by a strategic shift to enhance liquidity, user experience, and execution efficiency in cross-chain operations. The platform currently facilitates transactions across 18 blockchain networks and aims to focus resources on its cross-network execution and liquidity system. SODAX has introduced a new SDK, a cross-chain lending market, and a Protocol-Owned Liquidity system, and has integrated with projects like Bound Exchange and Houdini Swap. Additionally, SODA is set to be listed on Kraken's roadmap.
ICON Network to Cease Operations by End of 2026, ICX Migration Deadline Set
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