Why we built SX Network
SX was initially deployed on the Ethereum blockchain, before becoming one of the first applications to launch on the Polygon PoS network back in September 2020. This transition to Polygon PoS enabled the SX ecosystem to thrive. However, in the summer of 2021, the SX core team noticed a number of long-term risks and limitations as a function of being on Polygon PoS:
- Rising costs on Polygon. Gas prices on the Polygon PoS network are still very low, but they’ve increased by over 10,000x already since January 2021. Polygon’s continued growth threatens to price out smaller transactions over time.
- Blockchain sovereignty. The SX Protocol currently has no control over network architecture. Like other generic public blockchains, Polygon PoS wasn’t customized to support unique use cases such as prediction markets.
- Incentive alignment. SX Protocol may have differing incentives than other stakeholders in the Polygon PoS chain. As Polygon continues to grow, these differing interests can strain. Building SX Network aligns interests across all stakeholders in the ecosystem.
The SX Blockchain is a dramatic expansion of the vision behind SX Protocol. It reimagines SX as a stand-alone public blockchain capable of solving these limitations and mitigating these long-term risks. Moreover, SX will be the first public network to combine a smart contract platform with an on-chain community treasury and a native prediction market protocol. SX Network can combine these three characteristics to become the first smart contract blockchain to implement a market-based governance system for both its treasury and network parameters.
SX Blockchain is an easy choice for application developers due to a host of reasons:
SX Network represents the largest community of blockchain prediction market users in the world. This makes SX the best place in the world for blockchain developers building products in the prediction market or gaming space as they can tap into the biggest community of prediction market users and developers to build their business.
As the first Polygon Edge blockchain to go live, SX Network is an easy choice for Polygon developers looking to tap into new sources of TVL. Polygon-based blockchain can easily port their DeFi or NFT applications onto SX Network, and tap into an entirely new community and ecosystem without straying too far from Polygon.
SX Network is pioneering an entirely new governance primitive that application developers can tap into. More info around this new primitive and how blockchain applications are creating entirely new products using it will be released in the near future.
SX Network blockchain went live in March, making it the first Polygon Edge blockchain. There are over 25 protocols and applications across the prediction market, DeFi, and NFT space deploying on SX: