Market Analysis Report (07 Feb 2022)

SX Network is the world`s first Polygon Layer-2 blockchain, built with the specific purpose of scaling DeFi, NFT, and betting applications. It is the only network that combines a smart contract platform with an on-chain community treasury and a native prediction market protocol.

Understanding the SX Network

SX Network is an Ethereum Virtual Machine (EVM) compatible, allowing users to keep the same wallet address they had on Ethereum, along with the same token names, block explorers and wallets.

The network is built in collaboration with Polygon and it’s tied to both Ethereum and Polygon for more security. The network has an on-chain ecosystem fund, which is used to fund decentralized applications through the SX Treasury. Funding decisions are up to SX token holders. The network uses a Proof-of-Stake (PoS) consensus algorithm. 

What’s unique about SX Network

  • The first blockchain in the world where the token confers token holders ownership over the applications launched within 
  • It uses Polygon SDK and has ultra-low gas fees, even compared to Polygon fees
  • It’s the first public network to combine smart contracts with an on-chain community treasury and a native prediction market protocol
  • A free market-based governance system implies every token holder will have an interest in contributing
  • An obvious choice for expansion for Polygon dapps since SX Network is the first Polygon`s Layer 2 blockchain
  • Accessing funds from the SX Treasury, which are released based on governance votes – an on-chain fee pool that receives 55% of all SX along with the fees, generated by the SX Protocol
  • Over 20 businesses have already deployed SX blockchain

The SX Token

The SX Token (SX) is built for the governance of the SX Network but it has a total of three main use cases: protocol governance, staking, discounted rates on any exchange within the ecosystem. 

The token is listed on Bitfinex, Uniswap, Apeswap, Sushiswap and many other exchanges. 

You can learn more about the project through its website.