SODA token
SODA is the token of the SODAX system, with a supply fixed at its 1.5 billion cap and minted in full. Holders can stake SODA for xSODA, and the SODAX DAO, which owns the SODAX Liquidity Inventory, is governed by SODA token holders.
What it is
SODA is the token of the SODAX system. SODA is the token and SODAX is the system, so "SODAX token" is a common mistake: the token is called SODA.
The supply of SODA is fixed at its 1.5 billion cap and has been minted in full.
What it does inside SODAX
SODA holders can stake SODA to receive xSODA, which represents the staked position and carries governance weight. Staking happens on the SODA Exchange, SODAX's own app for SODA holders, which is also where holders move ICX to SODA at a 1:1 rate, without fees.
The SODAX Liquidity Inventory is owned by the SODAX DAO, which in turn is governed by SODA token holders. The DAO owns the inventory, holders govern the DAO, and SODAX routes, quotes and settles: SODAX itself does not hold, own or deploy that capital.
What this means for partners
Builders do not reach SODAX through the token. Apps reach the SODAX system by calling the SODAX API, starting with a free API key.
Related terms
- xSODA: what a holder receives for staking SODA
- SODA Exchange: where holders stake and migrate
- Liquidity inventory: owned by the DAO that holders govern
- SODAX System: the system, as distinct from the token
- SODAX API: how apps reach the system