SX Network (OLD)Price

(SX)

SX Network is the first public blockchain integrating a smart contract platform with an on-chain community treasury and a native prediction market protocol. It focuses on sports betting, with its platform SX Bet enabling peer-to-peer betting. This model allows users to bet against each other rather than a traditional bookmaker, which aims to provide better odds, enhanced transparency, and superior asset security compared to existing centralized options in the sports betting industry. The network addresses issues of opacity and high fees often found in traditional betting.

SX Network operates as a sports-focused, EVM-compatible blockchain. Its core technology comprises open-source smart contracts responsible for creating, processing, and settling all bets directly on-chain. The protocol incorporates essential mechanisms for market creation, efficient settlement, configurable fees, maintenance controls, and decentralized governance logic. Transactions on the network benefit from very low gas fees, which are paid using the native SX token, ensuring an efficient and cost-effective user experience for on-chain activities.

The SX token ($SX) is the native asset of SX Network, an EVM-compatible blockchain optimized for prediction markets and high-velocity, on-chain betting, particularly in sports. Its primary use cases include serving as the network's gas token, facilitating transaction fees across the blockchain. Additionally, SX holders can participate in decentralized governance, voting on protocol parameters and upgrades. The token is also used for staking, enabling holders to earn protocol revenue, and it can be utilized for various financial activities like arbitrage trading or lending within the ecosystem.

Yes, SX holders can stake their tokens to engage in network governance and earn rewards. A significant benefit of staking SX is the direct distribution of 100% of the protocol's revenue to stakers, paid in various forms such as USDC, ETH, and SX tokens, as per the project's documentation. Staking not only provides a yield opportunity but also allows participants to influence the network's future direction through voting. Furthermore, staking temporarily reduces the circulating supply of SX, which can contribute to the token's scarcity.

SX Bet offers several distinct advantages over traditional bookmakers. Its peer-to-peer model allows odds to be determined by market forces, often resulting in more favorable odds for users. All transactions are on-chain, providing unparalleled transparency and auditability, a stark contrast to the opaque operations of many centralized platforms. Furthermore, SX Bet is non-custodial, meaning users maintain control of their assets, enhancing security compared to traditional bookmakers that hold user funds. The platform also eliminates the 'vig' or commission typically charged, offering a more equitable betting experience.

The "OLD" in "SX Network (OLD)" refers to a previous contract version of the SX token. SX Network recently underwent a migration from an older smart contract to a new one. Consequently, the "(OLD)" designation typically indicates the deprecated contract. Users should ensure they are interacting with the current version of the SX token, and information regarding the updated contract should be available on the project's official channels or reliable token tracking platforms to prevent confusion and ensure proper asset management.