SODA Now Trading on Kraken Worldwide as SODAX Clears MiCA Compliance in the EU
RWA Signal Insight
InfrastructureThe SODAX cross-network execution infrastructure has officially launched its SODA token on the Kraken exchange, following a 1:1 migration from the legacy ICX token. Trading is now live on Kraken across the Sonic and Arbitrum networks, with support for USD and EUR pairs. This listing coincides with SODAX securing MiCA-compliant status in the European Union, evidenced by a whitepaper notified to the Central Bank of Ireland. SODAX functions as a liquidity and execution layer that enables cross-chain transactions across 20 networks, including Bitcoin and Ethereum, without requiring traditional bridges. The SODA token serves as the governance and fee-accrual asset for this system, featuring a capped supply of 1.5 billion and a deflationary model driven by programmatic buy-backs. By aligning its infrastructure with European regulatory standards, SODAX aims to position itself as a compliant, institutional-grade solution for cross-chain liquidity. This development highlights the growing trend of infrastructure protocols seeking regulatory clarity to facilitate broader adoption in the evolving digital asset market.
Key points
- SODA token launched on Kraken following a 1:1 conversion from the legacy ICX token.
- SODAX achieved MiCA compliance in the EU, registered under Central Bank of Ireland ID 3532007.
- The protocol supports cross-network execution across 20 blockchains, including Bitcoin and Ethereum.
- SODA tokenomics include a 1.5 billion hard cap and a 20% fee-based burn mechanism.
Background
SODAX is a cross-network execution and liquidity infrastructure designed to facilitate trading, lending, and settlement across disparate blockchain ecosystems. It utilizes a solver-based model that separates execution from custody, allowing users to move assets across 20 different networks without relying on traditional wrapped assets or bridges.