How SX Network continues to win in a bear market
While it still may be autumn, the Crypto Winter has been raging on for almost a year. While many projects have succumbed to the bear market, a handful of resilient protocols in Web3 have taken this time to build, develop, and strategize — positioning themselves for growth despite the current market conditions.
SX Network has proven to be one of those projects. It combines smart contracts with an on-chain treasury and prediction market protocol. SX Network Blockchain is ideal for developers because of its low-cost transactions, EMV compatibility, and native prediction market.
SX Network Blockchain is a viable and attractive ground to build upon with projects like AthleteX and Sharkswap calling it home. Marketing project Sparkwave and institutional wallet provider Fireblocks have also integrated on SX Network, illustrating the value partners are seeing in the young blockchain.
Strategic partnerships have been paramount to growth in this bear market. SX Network’s flagship platform SX Bet has seen a staggering growth of 240 percent year-over-year, surpassing 250 million in betting volume since its inception. This would not have been possible without key partnerships that have connected and leveraged communities within the space. These partnerships have included bet drops and wearables with Decentral Games, wearable drops with NFTeams, co-marketing, tournaments, and the creation of prediction markets for major upcoming events like Crypto Fight Night. The recipe for growth has been a simple one for SX Network: connect communities by providing value to projects and users alike.
SX Bet has become the world's number one prediction market app by betting volume, across all chains. Unlike traditional centralized betting platforms, SX Bet is non-custodial, community-owned, and governed through the SX token. SX Bet has flipped the script on the betting world, allowing users to not only beat the house but own the house. All bets are peer-to-peer and settled on-chain, removing the conflict of interest of traditional sportsbooks.
The reasons bettors are choosing SX Bet reach beyond being the first-of-its-kind community-owned platform ethos. SX Bet provides enormous value to users through tournaments, bet mining, and staking. In October alone, SX Bet is slated to award 70,000 in tournament prizes. With bet mining, each time a user wins, they earn SX tokens. SX Bet gives away 150,000 SX tokens to users each week, with the amount of SX tokens calculated relative to the total winnings that week. SX tokens can also be staked, which provides users an additional opportunity to earn daily staking rewards, reduce betting fees, and participate in governance.
SX Network will continue rapidly building in this bear market. We still may be in the Crypto Winter, but a rising tide lifts all boats. Developing partnerships while providing value to users, projects, and developers are at the forefront of our expansion strategy. The SX token has performed well against ETH and BTC during this drawdown and should be fit to return to pre-Crypto Winter levels when the opportunity arises.
Expect to see more projects building and launching on SX Network — with the low gas fees and support, projects will continue to be able to scale and thrive on it.
SX Bet will continue to double down on marketing efforts, focusing on strategic partnerships that accelerate growth and connect communities. Expect to see more tournaments, new markets, partnerships, co-sponsored events, and collaborations with projects in the Web3 space.