Coming to Kraken! Meet SODA.
Coming to Kraken! Meet SODA.
SODAX arrives on its new hub chain, Sonic. Money Market contracts are now live, with Solvers updated for efficient use of cross-chain liquidity.
The past month brought a major shift in strategy as the ICON Network officially became SODAX and began migrating its DeFi infrastructure to its new hub chain, Sonic. This brings the unified liquidity layer to the forefront, with the Solver now live across eight chains, ready to leverage Protocol-Owned Liquidity (POL) held in SODAX's Money Market. SODAX is now poised to unlock capital-efficient, intent-based execution for users and partners. With SDKs available and more integrations on the way, SODAX is laying the groundwork for scalable, next-gen DeFi infrastructure. More details below.
We’ve refactored the Solver to use the money market for liquidity, and integrated it with Sui, Arbitrum, BSC, Polygon, Stellar, Base, Solana, and Avalanche.
Work is underway to complete support for Optimism and Injective, which are expected to be finished by mid-May.
An SDK for the Solver has also been built and will be finalized by end of May, making it easy for partners to plug into this system.
SODAX’s money market contracts are live on Sonic, our new hub chain. The system has been fully configured and tested, and all spoke chains have been connected to support deposits, loans, and integrations. SDKs are now published for partners to tap directly into the money market.
The upgraded version of bnUSD is now live on mainnet. Testing will continue throughout May to ensure seamless performance across all integrated chains.
The next-gen relays (v3) are now live on all supported chains, bringing improved security, efficiency, and scalability. These relays are lighter on resources, include enhanced verification per chain, and are designed to allow partners to consume processed transaction data.
New asset managers have been completed, audited, and deployed across all chains. They’ve been tested alongside the v3 relays and serve as the foundation for our capital management going forward.
With these changes, SODAX is positioned to use its NOL more effectively than ever. If you’d like a deeper dive on what’s been built and why, check out our latest video.
