Toronto, Ontario–(Newsfile Corp. – April 29, 2022) – The widespread crypto adoption, observed in the past couple of years, managed to get numerous projects off the ground. SportX launched in 2019 with an original belief that crypto adoption would accelerate, and crypto-based betting will, therefore, see massive upticks in demand.
The rapid growth of the crypto industry mandated that the two forming brands – the SportX betting platform and the SX Network, must be unified into one core brand, since the SX team has begun expanding its products beyond sports into new types of prediction markets – the SX brand.
SportX Rebrands To SX.Bet Amid Roadmap Update
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New framework
The way SportX evolved during the 30 months separating the new master plan from the old one, pushed the brand into consolidation. Furthermore, the crypto market growth brought more competitors and new challenges facing SX every day.
One of the key aspects of the new framework is expanding SX’s prediction markets by 20 times. This means access to over 500 different prediction markets settled per day across almost every sport as well as a number of crypto-native verticals. However, other competitors already reached 10,000+ prediction markets.
Another key aspect in the SX network is the enrolment towards crypto-native prediction markets like NFTs, DeFi, and governance decisions.
Also, SX has put a new goal towards the creation of an ecosystem of related DeFi and NFT applications. The answer is creating a sovereign blockchain, which could handle the transactions – the SX network.
Governance betting
The governance of decentralized protocols has always been a problem, but it also comes with a new way of participating in the crypto space. For instance, bettors can receive an incentive when they bet on value-additive proposals. However, bettors are also sanctioned when they bet on value-destroying ones.
The governance betting ensures that the community has some form of interest to bet on the global outcome of the proposal, as solving governance is one of the most pressing problems in the entire blockchain space. SX recently launched a similar product, recently, making governance markets betting something more than just an idea.
About SX Network
SX Network consists of three core interrelated platforms, pushing out a native prediction market protocol, consisting of the EVM-compatible blockchain built on Polygon Edge, the open-source smart contract protocol behind SX markets – SX protocol, and the blockchain prediction market application SX.bet.
SX also deployed a custom governance token – the SX token, which is used for paying transaction fees, used as the staking bond by validators, and to power governance. SX has a large staking community, with hundreds of SX holders. Finally, SX has a rapidly growing ecosystem of developers, with 25 different 3rd party teams…
