Question 1

What is SODAX (SODA)?

Accepted Answer

SODA is the native token of SODAX, a cross-network liquidity and execution system that lets applications support swaps, lending, borrowing, bridging and other asset movements across different blockchain networks through a single integration. Users specify the outcome of a transaction, while independent solvers provide liquidity and execute it across supported networks.

SODAX developed from the ICON project. In 2025, ICON began moving its DeFi infrastructure to Sonic and transitioning from the ICON Network to SODAX. As part of this change, SODA was introduced to replace ICX, with a migration process allowing ICX holders to convert their tokens into SODA.

SODA has a maximum supply of 1.5 billion tokens, all of which have been minted. Its total supply can decline because part of the fees generated by SODAX is used to buy SODA on the open market and permanently remove those tokens from circulation.

Question 2

What is SODAX (SODA) used for?

Accepted Answer

SODA is used for staking and governance within SODAX. Holders can stake SODA to receive xSODA. Protocol fees allocated to the staking pool are reflected in the exchange rate between xSODA and SODA and staked positions can take part in SODAX governance.

Transactions routed through SODAX carry a protocol fee charged in the asset used to start the transaction. Under the current fee structure, 60% of these fees goes to liquidity inventory used by solvers, 20% funds purchases of SODA that are then burned and 20% goes to the staking pool.

The liquidity inventory is managed by the SODAX DAO and supports the liquidity required to execute transactions across networks. SODA also serves as the replacement token for ICX as the ICON project transitions to SODAX.

Question 3

Who created SODAX (SODA)?

Accepted Answer

SODAX was created by the team behind ICON, a blockchain project that began developing interoperability infrastructure in 2017. The project later shifted from operating the ICON Layer 1 blockchain towards SODAX, with infrastructure moving to Sonic and development focusing on cross-network execution, liquidity and DeFi applications.

Min Kim is the founder and CEO of SODAX. He previously led the ICON project through its development and transition into SODAX.