SX #26 - $7m SX Campaign Approved
Plus SX Network project lead explains the fundamentals of crypto economies
🗳️ $7m SX Liquidity Mining Campaign is Approved
The proposal for a SX Network SX-denominated liquidity mining (LM) campaign was approved via governance with 17m staked SX voting YES versus 0 NO votes. This program will be used to incentivize total value locked (TVL) of the SX Network blockchain, with a particular focus on increasing SX token liquidity and use.
This liquidity mining campaign will incentivize TVL by incentivizing liquidity pools across several leading apps and protocols on SX Network. The remaining SX will be matched with partner incentives for dual mining rewards to increase TVL. This includes the $2.5m MATIC grant issued by the Polygon team, which will be used to further incentivize TVL on SX Network.
📜 Principles of Macro Crypto Economics article
Check out this recent article from SX Network project lead Andrew Young explaining the principles of crypto network economies. Like sovereign nations, blockchains have their own internal currency that they issue and control. In this article, Andrew explains five different principles of crypto networks:
How blockchains move up the value chain
The benefits of specialization
Relationship between staking rate vs. transaction demand
How Layer-2s are states and Layer-1s are countries
Difference in strategy between developing and developed blockchains
🎙️ SX Network Episode on DeFi Decoded
Check out SX Network project lead Andrew Young talking about SX Network, blockchain betting markets, and the SX Network vision on the DeFi Decoded podcast from last week:
About SX Network
SX Network will be the first public blockchain to combine a smart contract platform with an on-chain community treasury and a native prediction market protocol. SX Network consists of three core platforms:
SX.Bet — The largest blockchain prediction market site that has facilitated $175M in trades on sports, politics and crypto markets.
SX Protocol — A smart contract primitive that powers SX.bet and has accrued over $2.5M in fees for the SX Network treasury.
SX Blockchain — The first layer two blockchain built on top of and in partnership with Polygon, that is focused on scaling betting, DeFi and NFT applications.
SX Network is a stand-alone smart contract blockchain built on Polygon Edge. It is designed from the ground up for blockchain application developers with EVM-compatibility, low-cost transactions, and a PoS-based consensus model.
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