SX Weekly #7 - SX Network Apps
Quick primer on some of the applications launching on SX Network!
📈 SX Snapshot
$SX Price: $0.71
SX Betting Volume (7d): $2.93m
SX Treasury Value: $48.55m
🏟 SX Network Primer
With the launch of the SX Network blockchain coming very soon, we thought we would do a quick primer into the different types of applications that are going to be launching. Broadly speaking, the apps coming to SX Network fall into one of three buckets:
Prediction Markets
Gambling Apps
Decentralized Finance (DeFi) Apps
They each contribute value to the network and provide utility to SX users and the SX token in a number of different ways. This article will highlight these founding apps and how they provide value to the network!
🏟 Prediction Markets
The first bucket is prediction markets. Prediction markets are peer-to-peer marketplaces where participants trade bets with each other on different events. There are currently four prediction market-related applications launching on SX Network:
SportX ($SX) - the largest sports-focused blockchain prediction market in the world, enabling bettors to bet in DAI, USDC, and ETH.
PunchBet - a new prediction market built on the SX Protocol, which provides a much easier-to-use interface that will cater to more mainstream users.
BlitzPick ($XBP) - the sports betting block explorer; BlitzPick is an information and analytics platform enabling users to analyze SX protocol transaction data.
AthleteX ($AX) - the athlete tokenization protocol, AthleteX enables participants to trade tokens that are tied to the annual performance of athletes.
Each of these apps will be deploying on SX Network, with many of them using SX as a currency within the app, driving tons of utility and transactions to SX Network.
🎰 Gambling Apps
There are also a number of casino and gambling related applications launching on SX Network, including:
TreasureKey - the largest casino application on Binance Smart Chain is bringing it’s best in class gaming product to SX Network.
RageFan - the first ever blockchain Daily Fantasy Sports platform and NFT platform is coming to SX Network.
LunaBets - this project hasn’t yet been officially announced yet but they are building a world-class betting and casino application. More details to follow.
Each of these apps will drive a significant number of transactions on the network as gambling apps tend to be very transaction heavy.
🏦 DeFi Apps
There is increasingly a number of DeFi applications coming to SX Network as well, spanning a number of different use cases, including:
AMMs - there are a number of AMMs, which will allow users to trade tokens natively on SX Network. One related project to check out here is Impermax.
Stablecoins - the SX stablecoin was announced a few weeks ago, which will enable users to mint stablecoins to bet with using their SX tokens.
Yield Farms - there’s been a number of yield farms that are coming to SX Network, including PolyCrystal, Adamant Finance, among others.
There has been a surprisingly large amount of interest from DeFi projects in coming to SX Network. DeFi applications tend to drive loads of monetary value to blockchains, increasing the Total Value Locked (TVL) of the entire network. There are a number of projects working with the core team that haven’t announced yet, so expect a slew of announcements as we gear up for SX Network launch!
🚜 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.