ICON Blockchain Shutdown: Last Chance to Swap ICX for SODA Before December 31

The ICON Foundation has announced that it will be shutting down its own layer-1 blockchain by December 31, 2026. The chain was launched in 2017 with the aim of connecting other chains to one another, but the foundation now believes a separate chain is no longer necessary.

Instead, the project will be moving onto a new stack called SODAX, which works as an execution and liquidity layer across more than 18 networks. For holders of ICX, the token of the ICON blockchain, there are two important dates to note: September 30, 2026, marks the end of the two-way swap between ICX and SODA, while December 31 is the final deadline for swapping ICX for SODA.

The exchange ratio is 1:1, meaning that one ICX token will be converted into one SODA token. However, this change also means that ICX holders will no longer have control over their tokens on a separate chain, but rather will manage them as ERC-20 contracts on the Sonic blockchain.

For those who store their ICX on centralized exchanges such as Kraken, the swap process has already been completed. However, for those who hold their own keys, it is essential to check that their wallets support the Sonic chain and can display ERC-20 tokens before attempting the swap.