SX #43 - The SX Merge
Plus API3 launches on SX Network & new episode of the SX Podcast drops!
🚀 The SX Merge roadmap is released
This week, the SX Merge roadmap was released. The SX Merge represents a long-term roadmap to fully decentralize SX Bet. It includes, decentralizing the reporting layer of SX, decentralizing the order book, decentralizing the front-end, paying out protocol revenue to stakers, and making SX one of the highest yielding blockchains in the world.
In short, it represents the merging of the SX Network blockchain with the SX Bet application.
One of the most exciting aspects of the SX Merge is how it represents a fundamental change in how SX Network captures and distributes value.
Betting fees from SX Bet are the main driver of protocol revenue for SX. Over the last twelve months, SX has collected $2.25m in protocol revenue:
Once all phases of the SX Merge fully take place, these fees will now be distributed directly to SX validators and SX holders with staked SX that have delegated to validators. For context, with roughly 71m SX currently staked, $2.25m in protocol revenue equates to $0.032 in validator revenue per token:
Even a more than 2-fold increase in the amount of staked SX, would equate to roughly $0.015 in validator revenue per staked token. As more SX is staked, the less SX there is in circulating supply and more secure the network becomes. Validator revenue would be distributed in the proceeds that they’re collected, which is primarily USDC at the moment.
The SX Merge would also make SX Network the 12th highest yielding blockchain in the world, according to TokenTerminal, ahead of Polkadot ($6.6b market cap), Algorand ($2.3b), and Elrond ($1.4b). Time for SX to take it’s place!
🎙️ Episode 4 of the SX Podcast has dropped!
Co-founder and Project Lead, Andrew Young, is joined by Coach Cryptos as they discuss a variety of SX Network topics. These topics include:
📉 November Recap
📈 How SX benefits from the FTX collapse
🤝 Launch of new features on SX
🚜 SharkSwap farming corner
🛣️ Roadmap - SX Merge, Learn-to-Earn, Bet Mining 3.0
⚽ World Cup picks
And much, much more! Check it out today!
🎲 API3’s QRNG is deploying on SX Network!
This integration means that developers tapping into the SX Network protocol are able to utilize true, quantumly generated, randomness within their smart contracts. This partnership will allow us to incorporate QRNG’s advanced algorithms into our platform, ensuring the highest level of security and fairness for our users.
API3 QRNG is provided by QuintessenceLabs. Based in Australia, QuintessenceLabs is a global leader in quantum cybersecurity, recognized for its advanced quantum-resilient data protection capabilities, working with companies like Microsoft, Raytheon, and JP Morgan. With this integration, SX Network can further support partner projects in Gaming, NFTs and Generative Art, and Participatory Processes.
To strengthen the partnership between SX Bet and API3, SX will provide the top 300 stakers of API3 token $50 USDC in bet credits. Stakers of API3 token can claim their bet credits on SX Bet within the next 48–72 hours.
🏆 $5,000 World Cup Finals Countdown on SX
There are five matches left in the 2022 World Cup!
Whether you call it soccer or football, the world is watching and the bets are flowing.
Make sure to get your bets in now for tomorrows match ups. SX has put up $5k in prizes to sweeten the pot in the Finals Countdown tournament.
After today’s game the action alone is all you will need!
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 largest blockchain betting platform in the world, with over $250,000,000 in betting volume since inception.