Kraken shares timeline for easiest ICX-to-SODA migration as ICON Network retires

Zug, Switzerland, August 5, 2026 — SODAX, the cross-network execution infrastructure and successor to the ICON Network, today announced that Kraken has begun supporting the migration of ICX tokens to SODA. For Kraken customers worldwide, this offers the easiest way to migrate their assets. ICX funding and trades will be paused on August 7 at 2 p.m. UTC. Balances will be automatically converted 1:1 to SODA with no action required, with SODA trading expected to begin by August 14, 2026.

“Having one of the most reputable exchanges support the migration means a lot to the project and to our community,” said Min Kim, founder of SODAX. “Kraken has a long track record of supporting projects through major transitions. For ICX holders who’ve been with us since 2017, this ensured a straightforward path into the next phase.”

SODAX is the successor to the ICON Network, one of the earliest projects focused on connecting isolated blockchains. Rebranded in early 2025, the protocol retired its own Layer 1 and moved to Sonic as a coordination hub, enabling intent-based cross-network swaps, lending, and borrowing across 17+ networks (including Solana, Sui, NEAR, Ethereum, and its Layer 2s) without requiring builders or users to manage the underlying complexity.

The migration also changes the token’s economics. ICX was a gas token whose supply inflated continuously to pay validators running the ICON network. SODA has a fixed maximum supply of 1.5 billion tokens, with fee-driven staking rewards and programmatic burns which progressively reduce circulating supply as transactions are routed by the system.

New opportunities for SODA holders

“As new networks keep emerging, fragmentation is only accelerating and there aren’t enough players on the interoperability side to service all of them,” said Kim. “If our thesis plays out, SODAX is positioned to meet that demand. That’s genuinely good for token holders.”

SODA holders can put that thesis to work directly at SODA Exchange:

SODAX Stake: Stake SODA to receive xSODA, a liquid staking token representing a share of the protocol’s performance. Rewards are generated directly from protocol fees, aligning holder value with actual usage.

SODAX Pool: Provide SODA/xSODA liquidity to specialized pools, earning additional incentives for contributing to the protocol’s market depth.

The overall migration period for ICX to SODA continues through to December 31, 2026, at which point the ICON Network is scheduled to shut down and cease producing blocks. All ICX holders should ensure they take the necessary steps to migrate before this date. ICX holders who move their balances to Kraken before August 7 will have them converted to SODA automatically, with no further action required. Holders elsewhere have until December 31 to migrate before the ICON Network shuts down.

About SODAX

SODAX is a cross-network execution and liquidity system spanning 20 networks, including native Bitcoin and tokenized equities (xStocks). Wallets, DEXs, and lending protocols integrate the SODAX SDK to ship cross-network features faster and extend their reach to every network SODAX touches. SODAX is infrastructure for modern money.

About Kraken

Founded in 2011, Kraken is one of the world’s longest-standing and most secure cryptocurrency platforms. Trusted by over 13 million users globally, Kraken offers a vertically integrated infrastructure stack spanning spot trading, derivatives, staking, and payments across more than 600 digital assets and six national currencies.

Media contact
John Hooley
press@sodax.com
Twitter/X: @gosodax