Blockchain
SportX Rebrands To SX.Bet Amid Roadmap Update
Toronto, Ontario–(Newsfile Corp. – April 29, 2022) – The widespread crypto adoption, observed in the past couple of years, managed to get numerous projects off the ground. SportX launched in 2019 with an original belief that crypto adoption would accelerate, and crypto-based betting will, therefore, see massive upticks in demand.
The rapid growth of the crypto industry mandated that the two forming brands – the SportX betting platform and the SX Network, must be unified into one core brand, since the SX team has begun expanding its products beyond sports into new types of prediction markets – the SX brand.
SportX Rebrands To SX.Bet Amid Roadmap Update
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/8601/122003_0413279884f0fbff_001full.jpg
New framework
The way SportX evolved during the 30 months separating the new master plan from the old one, pushed the brand into consolidation. Furthermore, the crypto market growth brought more competitors and new challenges facing SX every day.
One of the key aspects of the new framework is expanding SX’s prediction markets by 20 times. This means access to over 500 different prediction markets settled per day across almost every sport as well as a number of crypto-native verticals. However, other competitors already reached 10,000+ prediction markets.
Another key aspect in the SX network is the enrolment towards crypto-native prediction markets like NFTs, DeFi, and governance decisions.
Also, SX has put a new goal towards the creation of an ecosystem of related DeFi and NFT applications. The answer is creating a sovereign blockchain, which could handle the transactions – the SX network.
Governance betting
The governance of decentralized protocols has always been a problem, but it also comes with a new way of participating in the crypto space. For instance, bettors can receive an incentive when they bet on value-additive proposals. However, bettors are also sanctioned when they bet on value-destroying ones.
The governance betting ensures that the community has some form of interest to bet on the global outcome of the proposal, as solving governance is one of the most pressing problems in the entire blockchain space. SX recently launched a similar product, recently, making governance markets betting something more than just an idea.
About SX Network
SX Network consists of three core interrelated platforms, pushing out a native prediction market protocol, consisting of the EVM-compatible blockchain built on Polygon Edge, the open-source smart contract protocol behind SX markets – SX protocol, and the blockchain prediction market application SX.bet.
SX also deployed a custom governance token – the SX token, which is used for paying transaction fees, used as the staking bond by validators, and to power governance. SX has a large staking community, with hundreds of SX holders. Finally, SX has a rapidly growing ecosystem of developers, with 25 different 3rd party teams building protocols and apps on SX Network.
Jake Hannah;
[email protected]
For more information, please visit SX Network website at:
https://sx.technology
Media Contact
Company Name: Cryptoken Media
Email: [email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/122003
Blockchain
Bybit Receives Georgian VASP License, Strengthening Global Regulatory Presence
Blockchain
Accredited Solutions, Inc. Announces Strategic Acquisition of GlobeTopper, a $37M Revenue Platform Acquisition to Anchor Fintech Strategy
Blockchain
DIGZAX Enhances Collaborative Security System, Pioneering New Heights in Cryptocurrency Trading
DIGZAX
-
Blockchain Press Releases6 days ago
FDUSD Expands to the Solana Blockchain to Further Strengthen and Bolster Access
-
Blockchain6 days ago
DNA Holdings Venture Inc. and Validation Cloud Partner to Deliver $50M Institutional SOC 2 Compliant Staking Solution on TON
-
Blockchain Press Releases6 days ago
Bybit Launches Localized Website for Kazakhstan Community, Offering Comprehensive Crypto Trading Services
-
Blockchain6 days ago
XSOLLA TO LAUNCH XSOLLA ZK, ADVANCING WEB3 ADOPTION FOR VIDEO GAMES
-
Blockchain5 days ago
Kyrrex Expands into the U.S. Market, Offering Crypto Solutions with Low Fees
-
Blockchain Press Releases5 days ago
Bybit Protects First-Time Copy Traders Against Potential Fiat Losses in Limited-Time Offer
-
Blockchain Press Releases5 days ago
Citrea Raises $14M to Expand Bitcoin Beyond Digital Gold
-
Blockchain6 days ago
Oxbridge / SurancePlus CEO Jay Madhu to Speak at Digital Assets Week in Singapore