ICON Dumps Its Layer-1 Ambitions—Rebrands as SODAX in Pivot to... Something

Another day, another crypto rebrand. ICON—once hyped as the ’Korean Ethereum’—just pulled the ultimate pivot play: ditching its Layer-1 roots entirely and slapping on a shiny new SODAX label. Was it regulatory pressure? Developer fatigue? Or just another case of ’narrative drift’ in the blockchain circus?

Behind the buzzwords: The move comes after years of struggling to gain traction against rivals like Solana and Avalanche. Now, SODAX promises—wait for it—’interoperability 2.0’ and ’enterprise-grade solutions.’ Because nothing screams adoption like vague enterprise jargon.

The cynical take: Watch the token pump 30% on the news before crashing back down when traders realize rebrands don’t magically fix adoption metrics. Meanwhile, the VCs who backed this pivot are probably already drafting their ’Web3 resilience’ Medium posts.