SX #34 - SX Bet Migration to SX Network
The migration is complete! Here's everything you need to know about this revolutionary upgrade
🎉 SX Bet has officially migrated to SX Network! 🎉
This migration has been many months in the making and we’re excited to announce that it has been successfully deployed today, on August 30th!
Users will see immediate improvements in performance and speed now that SX is on its own chain. Gas fees on SX Network are 99% lower than Polygon PoS, and all fees are now revenue for SX Network. Longer-term, this migration sets the stage for the next evolution of SX Bet, which we’ll be announcing in the upcoming weeks.
There are huge things coming down the pipeline on both the technical and business front for SX. The migration sets the stage for a huge acceleration in achieving our shared vision for SX; to become the largest sports betting and political betting exchange in the world.
This migration has also been paired with some other improvements on the SX Bet platform product. The following is a list of these:
💧Asymmetric Maker-Taker Fees
SX Bet now has asymmetric taker-makers fees such that market-maker fees are being reduced by 50%. This comes after a successful governance proposal to do so.
Reduced maker fees will increase liquidity and odds for end-consumers, and motivate sensitive market makers to begin providing liquidity. All fees will still be transparently paid to the SX Community Fund on-chain.
🧱 Odds Ladder & Priority
SX now has an ‘odds ladder’, which essentially protects both users and market makers from front-running by mandating a minimum increment by which you can price bet offers.
It also promotes greater liquidity and better odds for bettors. Odds ladders are standard practice on traditional betting exchanges, so this feature is a long-time coming in making SX more competitive platform for traditional liquidity providers.
📲 UI Update
SX Bet also got a major face-lift on it’s user interface with a number of upgrades including:
Updated colour scheme
Improved mobile layout and menu
New Wallet page
🐛 Bug Fixes
Finally, there were also a number of minor bug fixes, including:
Fixing team name ordering
About SX Network
SX Network combines smart contracts with an on-chain treasury and prediction market protocol. SX Network is perfect for developers with EVM-compatibility, low-cost transactions, and PoS-based consensus. SX.Bet is the #1 prediction market dapp by betting volume across all chains. All bets are peer-to-peer and settled on-chain. SX.Bet has processed +$220,000,000 in betting volume.