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ICON Network to Shut Down in Dec 2026 as Ecosystem Moves to SODA

Key Highlights

  • ICON Network will shut down completely on December 31, 2026, ending all active blockchain operations.
  • ICX holders must migrate to SODA at a 1:1 ratio, with migration becoming one-way from September 30, 2026.
  • After the shutdown, ICON will become a read-only archive, while activity and liquidity move to SODAX across 18+ networks.

The ICON Network, a blockchain platform, has announced it will be closing down on December 31, 2026. This is part of a planned shift to a new system built around SODAX.

This update impacts everyone involved with ICON, including those who hold ICX tokens and use the network worldwide. The ICON Foundation is managing the change, and all users need to move their ICX to SODA at a one-to-one ratio using the official system before the stated deadline.

The ICON network is finishing its move to @gosodax by the end of the year. After December 31, 2026, the ICON Network will no longer be active, marking the end of the migration period. Make sure to read on to learn how to move your $ICX to $SODA.

— SODA (@sodaholders) May 25, 2026

Economic shutdown phase began in March

The company announced the network has entered an “economic shutdown,” meaning it has stopped distributing staking rewards and creating new tokens.

The blockchain will continue operating, but primarily to assist users in transitioning from ICX to SODA. The majority of activity, rewards, and available funds have already moved to SODAX, which is now the central part of the ecosystem.

The firm gave clear deadlines for the process. 

  • Until September 30, 2026, users can swap ICX to SODA in both directions, but after that date, the system changes. 
  • From September 30 onward, only ICX → SODA conversions will be allowed. 
  • The final cutoff is December 31, 2026. After this date, no further conversions will be possible, and any remaining ICX that has not been migrated will no longer be useful.

The ICON blockchain will not disappear completely from records. Instead, it will become a read-only archive. This means users will still be able to check old transactions, but no new blocks or updates will be created. The chain will stop functioning as an active network and will only serve as historical data storage.

SODAX expansion and exchange support

Meanwhile, ICON said that SODAX has already started operating ahead of the shutdown. The firm has launched tools like SODAX Stake and SODAX Pool, which started in March 2026.

As an analyst, I’ve been following the recent developments closely. In early April, incentives were introduced to encourage users to transition their funds to the new system. Looking ahead, SODAX plans to expand its focus – rather than operating within a single blockchain, they’re aiming to facilitate transactions and liquidity across 18 different networks. This shift towards cross-network execution is a key part of their future strategy.

I’ve also been encouraged to see support from several major cryptocurrency exchanges. Kraken, for example, has indicated they plan to list SODA, and Coinone is actively working on tools to help their users automatically migrate to the new token.

This simplifies things for people who store their ICX on exchanges, as the conversion will happen automatically. If you hold your ICX in a personal wallet, you’ll need to migrate it yourself through the official website.

Broader context

ICON was created in 2017 to make different blockchains work better together. It built technologies like BTP and xCall to allow these networks to easily connect and share information.

As the blockchain world evolved, newer technologies lessened the demand for separate chains designed to connect different Layer 1 blockchains. This change is a key reason why the project is now focusing on SODAX.

The plan to shut down the blockchain is happening in stages. A final decision will be made through a community vote in May 2026, and data migration will continue until the end of December 2026. After December 2026, the ICON blockchain will no longer be operational, and all functions will be handled by SODAX.

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2026-05-25 21:25