*** We apologize for the delay on this week’s SX Weekly. Currently dealing with an issue with our newsletter provider ***
📈 SX Snapshot
$SX Price: $0.56
SX Betting Volume (7d): $2.35m
SX Treasury Value: $37.17m
🚀 SportX is the Future of Sports Betting
SportX is the world’s first community-owned sports betting platform.
It is a non-custodial exchange that gives users unparalleled transparency, security, and fairness. It’s built-on the SX Protocol, which is a fully open-source smart contract software. It gives unprecedented transparency into the minute-by-minute operations of the platform to the public. The team is also in the process of building out the SX Network blockchain, which is the world’s first public blockchain designed for sports betting applications.
SX Network is owned by its users; every time you place a bet on SportX or an app using SX Protocol, you get SX tokens. These tokens have complete control of both the SX Blockchain and SX Protocol. All revenue generated by SportX or the SX Protocol is diverted to the SX Community Fund, which is controlled entirely by the SX tokens. There are no value leaks; revenue generated on SX goes to SX tokens, which are widely held by the community.
Numerous studies have shown that the armies of democratic governments fight better than the armies of autocratic ones (source). Soldiers fight harder, take more initiative, and are better organized. Enfranchisement is a competitive advantage on the battlefield. SportX is simply making the bet that enfranchising bettors will accomplish the same thing in the sports betting world. Enfranchising bettors is an insurmountable competitive advantage.
Enfranchising bettors is an insurmountable competitive advantage. This is the core SportX thesis.
Just as the extinction of dinosaurs paved the way for large mammals to take over the earth, the demise of traditional bookmakers will pave the way for fairer, more trustworthy, community-owned betting platforms.
The end result will be hugely beneficial for bettors everywhere.
📰 SX Network News
📈 Record High SportX Betting Volume
SportX hit a new high in weekly betting volume last week with $2.35m in bets for the week of September 20th to September 27th. This represents annualized betting volume of $122.2m, which roughly translates to $2.44m in revenue for the SX Community Fund! What’s even more exciting is that we’re still in a relatively down period for sports with NBA, NHL, and other major leagues not yet back in play. Up only!
📊 SX Network testnet surpasses 15,000 transactions
The SX Network surpassed 15,000 transactions and +850,000 blocks successfully produced on the live testnet since launch with no major hiccups! SX Network is continuing to gear up for the launch by expanding the core engineering team and continued outreach with SX Network founding partners to make the prod launch successful!
🗞 The Future of Sports Betting Article
The mini-essay at the top of this newsletter is an excerpt from an article published by the co-founder and project lead of SX Network, which delved deep into the competitive advantages of community owned sports betting platforms like SX Network and SportX. Read about why the rise of community-owned platforms are inevitable in this must-read article. We highly recommend checking it out!
💰 SX Yield Farming
SX can be used to generate a yield by staking or providing liquidity in the following yield farms. Check out the liquidity channel, staking page or Youtube education series for more info on how to take advantage of these great opportunities.
💻 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 is a stand-alone smart contract blockchain built on the Polygon SDK. It is designed from the ground up for blockchain application developers with EVM-compatibility, low-cost transactions, and a PoS-based consensus model.