SX #30 - $10,000,000 TVL!

SX Network's first application surpassed $10M in deposits in first week

Jun 10

📈 SharkSwap Hits $10,000,000 in TVL

The SharkSwap airdrop happened on Monday this week (check it out here: SharkSwap.xyz) and the growth in the platform has been outstanding since. There’s currently over $10,000,000 locked up in SharkSwap just a few days since launch with both the SX and SharkSwap community using the platform.

The TVL has also been steadily increasing day-after-day:

Also worth noting that the SharkSwap platform has also done roughly $1,000,000 in trading volume since launch. With 0.2% of every trade being used to buy back and burn Shark, this has resulted in 8,330 SHARK being burnt already! As TVL grows, liquidity will continue to grow, thereby increasing trading volume and SHARK burning.

Curious to use SharkSwap?

🦈 Main site: SharkSwap
🌉 Bridge: SX Network Bridge
🎥 Video Walk Through: SharkSwap Tutorial

☀️ With the migration of SX’s flagship app - SX.Bet - planned for this summer, trading volumes should continue to rise on SharkSwap! ☀️

🚀 SX Network nearing 10,000 transactions

The SX Network blockchain is also nearing a new benchmark, with over 9,000 transactions taking place on the chain since launch. SharkSwap by itself is already averaging roughly 1,000 transactions per day!

For comparison, SX.Bet averages roughly 3,500 transactions per day. As the number of apps grow though, the number of other supporting transactions (token transfers, bridge transactions, etc.) also grows. This is why blockchain networks typically grow in an exponential fashion, as each new use case has a non-linear impact on transaction demand.

The ten largest EVM smart contract blockchains average anywhere from 200,000 (Avalanche) to 4,000,000 (BSC) transactions per day. With over 15 new applications expected to launch on SX Network over the next few weeks, the amount of transactions per day on SX Network should continue to increase rapidly.

⛽ The upcoming launch of 10+ applications on SX Network figures to massively increase demand for SX Network block space! ⛽

📰 SX Network to be integrated on DappRadar

DappRadar announced that it will be integrating SX Network Dapps on their platform later this month. DappRadar is the world’s largest Dapp tracking site and widely considered the most trusted source for exploring dapp data.

In conjunction with the listing, Dapp Radar will launch a marketing campaign and educational content about the integration of SX Network to the Dapp Radar community.

📢 The DappRadar integration will massively increase exposure of SX Network to the crypto native public 📢

👺 SX + SharkSwap Meme Contest Results!

With the upcoming launch of both SX Network and SharkSwap, we asked the lovely SX community to put their troll hats on and come up with some fresh memes. As always, the results were legendary:

SX Winners

🏆 1st Place — @risk22_ (2,000 SX)

🥈 2nd Place — @CSP — NHL TOURNEY KING (1,000 SX)

🥉3rd Place — @LynAntin (500 SX)

Vampire @LynAntin

Assemble..! @SX_Network #SXMemeContest $SX

SharkSwap Winners

🏆 1st Place — @FhantomBets (2,000 SHARK)

🥈 2nd Place — @Khomu15 (1,000 SHARK)

🥉3rd Place — @CrazyValer (500 SHARK)

Congratulations to all the winners! There were a number of honourable mentions that also won prizes and were equally hilarious, make sure to check them out here!

🤝 With almost 200 submissions across both contests, it’s clear that the SX and SharkSwap communities are alive and well! 🤝

About SX Network

SX Network is the first 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 $180M in trades on sports, politics and crypto markets.
SX Protocol — A smart cont 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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