An Altcoin Is Shutting Down: Users Have Until the End of the Year to Make the Switch

ICON, a Layer 1 blockchain project, has announced that it will completely cease operations by the end of 2026.

According to an announcement by SODAX, a company developing cross-chain liquidity infrastructure, ICON Network, which has been operating for approximately nine years, will officially close on December 31, 2026, and the project will completely transition to the SODAX ecosystem.

According to the announcement, the ICON chain will be permanently disabled after the specified date. Only “read-only” query functions for historical data will remain active on the network.

However, the deadline for the migration process of ICON’s native token, $ICX, to the SODA token has also been set as December 31, 2026. After this date, conversion transactions for $ICX tokens will no longer be possible. Furthermore, as of September 30, 2026, two-way conversion will end, and only one-way conversion from $ICX to SODA will be supported.

SODAX management stated that with the development of cross-chain infrastructures in the blockchain sector, the sector’s fundamental problems are no longer “payments,” but rather liquidity, user experience, and transaction efficiency. Therefore, the project will now focus entirely on SODAX’s cross-network execution and liquidity systems.

According to information shared by the company, SODAX can currently coordinate transactions across 18 different blockchain networks. The platform also announced the development of a new SDK, a cross-chain lending marketplace, and a Protocol Owned Liquidity (POL) system. The ecosystem is reportedly integrated with projects such as Bound Exchange and Houdini Swap.

*This is not investment advice.