TL;DR: SX Network is migrating to a new gasless chain architecture. The current SX Network blockchain is planned to be deprecated, and the SX token will no longer have its primary technical role as the gas token for the network. Based on a retroactive snapshot taken on May 15th, 2026, eligible SX holders will be allocated USDC Bet Credits on SX Bet with a face value of $0.015 per SX token held at the snapshot. The credits will be allocated automatically based on the snapshot; holders do not need to buy, sell, burn, transfer, or otherwise move SX tokens to be eligible. The snapshot was taken of SX, WSX, and staked SX balances across SX Network, Polygon, and Ethereum. To activate or use the credits, eligible holders will need to connect or verify their snapshot wallet (i.e. the same wallet address that holds the SX at time of snapshot) and accept the applicable SX Token Sunset Terms and USDC Bet Credit Terms. If eligible holders do not connect or verify their snapshot wallet and accept the applicable SX Token Sunset Terms and USDC Bet Credit Terms by August 15th, 2026 they will lose their right to receive the credits.
Why we are doing this
When we built SX Bet, we made an early bet on running our own onchain infrastructure — first on Polygon, then on our custom Arbitrum Orbit chain. Since that launch, SX has served as the gas token for the SX Network blockchain.
We are now migrating to a new chain architecture that no longer requires a native gas token. The new architecture is intended to be fully gasless, which should make the product simpler to use: no separate gas balance, no need to acquire SX to use as gas, and fewer steps for users interacting with the platform. More details on the new architecture will follow separately.
As a result, the SX token will no longer have its primary technical role in the protocol. Rather than leave the token in place as a vestigial asset after the network transition, we are sunsetting it and allocating USDC Bet Credits to eligible snapshot holders as part of that transition.
The snapshot
We have taken a retroactive snapshot of SX token holder wallets across the chains where SX has been held. The snapshot date is May 15th, 2026. The snapshot was taken before this announcement to reduce the risk of front-running, speculation, or gaming of the credit allocation.
If you held SX tokens in an eligible wallet at the snapshot, you are eligible for the credit allocation, subject to the exclusions and eligibility requirements described below. Holders do not need to continue holding SX after the snapshot, and they do not need to transfer or burn SX tokens to receive their allocation.
If SX was held through an exchange, custodian, or other intermediary, eligibility may depend on whether and how that intermediary is able to identify or support the relevant beneficial holders. Additional details may be provided separately where applicable.
What eligible holders receive
1. USDC Bet Credits with a face value of $0.015 per SX token
Every eligible holder will be allocated USDC Bet Credits on SX Bet with a face value of $0.015 per SX token held at the snapshot. For example, a holder with 100,000 SX at the snapshot would be allocated $1,500 in USDC Bet Credits.
USDC Bet Credits are platform credits denominated by reference to USDC. They are not USDC, cash, stablecoins, tokens, deposits, securities, or stored-value products; they are non-transferable, not withdrawable, and have no cash redemption value. USDC Bet Credits may be activated and used only by eligible users on SX Bet, subject to the USDC Bet Credit Terms, SX Bet Terms, account eligibility, jurisdictional eligibility, and applicable law.
Where USDC Bet Credits are used in accordance with the applicable terms, resulting eligible winnings, if any, will be settled in USDC subject to the SX Bet Terms and USDC Bet Credit Terms. Credits may be subject to expiry, usage limits, minimum odds, wagering requirements, account restrictions, and other terms shown at activation or in the applicable terms.
The $0.015 amount is the face-value credit allocation rate for this sunset program. It is not a cash redemption price, repurchase price, exchange price, market valuation, or representation of the current or future value of SX.
2. Potential future token consideration
There are no current plans, commitments, or guarantees to launch another token. If SX Bet or a successor entity later adopts a token program, the company may, in its discretion, take the SX snapshot into account when determining eligibility or allocation mechanics for that program, subject to the terms of that program, applicable law, geographic eligibility, and other requirements in effect at that time.
Nothing in this announcement creates any right, entitlement, allocation, expectation, or claim to receive any future token, token allocation, airdrop, distribution, or similar benefit. Any future program, if adopted, may be modified, limited, delayed, or cancelled at any time.
3. Potential future points program multiplier
Similarly, if SX Bet or a successor entity later launches a points program, the company may, in its discretion, take the SX snapshot into account when determining whether eligible snapshot holders receive any points-related multiplier or other benefit.
There is no current points program commitment, and nothing in this announcement creates any right, entitlement, expectation, or claim to receive points, a points multiplier, or any other future program benefit. Any such program, if adopted, would be subject to separate terms and eligibility requirements.
How the credits will be delivered
The USDC Bet Credit allocation will be calculated automatically based on the snapshot. Eligible holders do not need to submit a transaction, transfer SX, burn SX, or purchase anything to preserve their eligibility.
Credits are expected to become available beginning May 15th, 2026 at SX.Bet. To activate or use the credits, an eligible holder will need to connect or verify the wallet that held SX at the snapshot, complete any required account and eligibility checks, and affirmatively accept the SX Token Sunset Terms and USDC Bet Credit Terms. Those terms will include the rules governing the credits, eligibility, expiry, and related releases and limitations.
This activation step is administrative. The snapshot already determines the allocation, and the activation process does not require holders to give up or transfer their SX tokens. However, If eligible holders do not connect or verify their snapshot wallet and accept the applicable SX Token Sunset Terms and USDC Bet Credit Terms by August 15, 2026, they will lose their right to receive the credits.
What happens to my SX token?
In the near term, nothing changes. SX tokens are expected to continue functioning as gas on SX Network until the current chain is deprecated.
The SX Network blockchain is planned to be deprecated in the coming months. Once that occurs, the SX token will no longer have a functional technical role in the protocol. Specific timing and mechanics of the technical retirement will be communicated separately.
Holders do not need to burn, transfer, or otherwise dispose of their SX tokens. The credit allocation is based only on the snapshot and does not require any action with respect to the tokens themselves.
Eligibility and exclusions
Non-eligible wallet addresses include team, early investors, and advisors or wallets with less than 100 SX at the time of snapshot. Additional exclusions may apply for addresses or accounts that are ineligible under applicable law, sanctions rules, platform terms, jurisdictional restrictions, duplicate or abusive activity rules, or other requirements in the SX Token Sunset Terms and USDC Bet Credit Terms. Please reach out to the customer support channel on SX Bet if there are any questions with eligibility.
SX Bet may adjust, withhold, or reverse credits where required by law or where it determines that an allocation resulted from an error, unsupported custody arrangement, duplicate attribution, suspicious activity, or violation of applicable terms.
A note from the team
The SX token has been part of this protocol since the beginning. Many holders supported SX through market cycles, infrastructure migrations, and the long process of building a real onchain exchange.
We wanted to handle this transition clearly and respectfully. The move to a gasless architecture is an important step for the product, and this sunset program is intended to recognize the holders who supported SX through this chapter while giving the protocol a cleaner path forward.
Thank you for being part of SX. We are excited for the next chapter.
Important terms
This announcement is a summary only and is qualified in full by the SX Token Sunset Terms, USDC Bet Credit Terms, SX Bet Terms, and any other applicable terms. Credits are subject to account eligibility, legal and jurisdictional restrictions, identity or wallet verification, sanctions screening, expiry, and other requirements. Void where prohibited.
This program is not a purchase, sale, redemption, repurchase, exchange, or burn of SX tokens. Nothing in this announcement is an admission of liability or wrongdoing, a promise to maintain support for SX tokens, investment advice, or an offer to sell or solicitation to buy any security, commodity, token, or other financial instrument.
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