SODA Now Trading Worldwide on Kraken
One of the world's largest exchanges now lists SODA, the latest stop on a listing roadmap that keeps moving.
SODAX Team
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SODA, the governance token behind the SODAX execution system, is now trading on Kraken, with funding for Sonic and Arbitrum networks.
The listing follows Kraken's completed migration of ICX balances to SODA for users worldwide.
Kraken is the latest exchange to begin offering SODA for trade, joining a growing list of centralized and decentralized exchanges to carry SODAX.
SODA is now trading on Kraken. For holders, that means one of the largest and longest-running exchanges in crypto, trusted by more than 13 million users worldwide, is a new place to buy, sell, and manage a SODA position. For ICX holders specifically, it closes out a milestone too: Kraken has completed its conversion of ICX balances to SODA at a 1:1 rate, following the migration schedule it set out earlier this year.
Why Kraken, and why now
Kraken isn't the first venue to list SODA. SODA has been trading on Coinone, Bound Exchange and more since earlier this year, with further exchanges lined up to begin trading soon. What Kraken adds is scale: global reach, deep liquidity, and a level of institutional trust that matters as SODAX's holder base grows beyond its earliest supporters.
Alongside the Kraken listing, SODAX has published a MiCA-compliant crypto-asset whitepaper for SODA, filed with the Central Bank of Ireland and recognized across the European Economic Area. In plain terms, SODA now has a documented, regulator-facing path to being offered and admitted to trading on regulated venues across the EU. Getting that done early, while much of the industry is being pushed to catch up, affirms SODAX’s commitment to follow the shifting regulatory landscape of the industry.
What SODA actually represents
SODAX is a cross-network execution and liquidity system spanning 20 networks, encompassing a range of EVM and non-EVM networks, including Bitcoin. Wallets, DEXs and lending protocols integrate the SODAX SDK to ship cross-network features faster and extend their reach to every network SODAX touches.
SODA is the governance token sitting on top of that system, and it's tied directly to the fees the system earns. Total supply is fixed at 1.5 billion tokens, with no ongoing emissions and no way to increase it.
Every fee generated by a transaction routed through SODAX splits three ways: 20% funds a programmatic buy-back and burn that permanently removes SODA from circulating supply, 20% goes to SODA staking rewards, and the remaining 60% goes to the SODAX DAO and its growing liquidity inventory. As more networks, partners, and volume move through the system, more fees capture value within the system.
More listings are coming
Kraken is a big one, but it's not the last. SODA's listing roadmap keeps moving: Coinone and Bound Exchange are already live, with further conversations already preparing more listings for the months ahead. The plan was never to chase one big listing and call it finished. It's to keep making SODA easier to access, on more platforms, in more places, for as long as the system underneath keeps growing.
SODA is trading live on Kraken now. For everything else, holders can check the holders page to learn more about the SODA token, or head to sodax.com for the execution system generating fees today.