ICON Network, a blockchain project, plans to shut down its network by December 31, 2026, as it moves to a new platform called SODAX.
According to the official announcement, users holding ICX tokens will need to migrate their assets to SODA tokens through an official conversion process at a fixed 1:1 ratio before the deadline expires.
The project said it has started an ‘economic shutdown’ phase. Staking rewards and new token emissions have stopped, and the blockchain will keep running temporarily just to support migration.
The transition will happen in stages. Until September 30, 2026, users can convert between ICX and SODA in both directions. After that date, only one-way migration from ICX to SODA will remain possible. Once the final deadline passes at the end of 2026, any unmigrated ICX tokens will effectively become unusable.
ICON said the blockchain will stay available as a read-only archive after shutdown, so users can still access past transaction data even though no new blocks will be created.
This marks the end of a project that started in 2017 to improve interoperability between blockchains. As the crypto industry evolved, newer solutions reduced the need for standalone Layer-1 networks focused only on cross-chain communication.
SODAX will continue to develop, focusing more on liquidity and cross-network execution across several blockchains.
Several exchanges, such as Kraken, have said they will support the migration, making it easier for users with tokens on centralized platforms.
The ICON network’s full migration to @gosodax completes at the end of this year.
The ICON Network will shut down, bringing an end to the migration window on December 31, 2026.
Read on to be ready to migrate your $ICX to $SODA 🧵 https://t.co/9yoF93h91h pic.twitter.com/5A0O71smPC
— SODA (@sodaholders) May 25, 2026
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