SX Master Plan: Rebranding, Expanding and Solving The Governance Problem

cryptonews.com:

Disclaimer: The text below is a press release that was not written by Cryptonews.com.

The first SX master plan was released in December 2019 – an internal document shared to the SX team and early investors. It consisted of a simple vision and mission based on two beliefs:

SX mission is to become the dominant hub for crypto-based betting 

Later on in the document, a simple prospective strategy to capitalize on this vision laid out:

This strategy consisted of shipping new technology and rapidly iterating while gaining a dominant market position by quickly growing our community. Then using this dominant community to eventually attract market-makers, validators, and third-party developers. 

Over the last 30 months, SX achieved these goals to a large extent. SX is now the largest blockchain betting market in the world by volume, with USD 170m in total bets since inception. It is also the most liquid, offering deep depth in three separate currencies across more than 500 prediction markets per day. SX has a large staking community, with hundreds of SX holders staking a total of 57,738,446 SX, which represents ~USD 20m in total value. Finally, SX has a rapidly growing ecosystem of developers, with 25 different 3rd party teams building protocols and apps on SX Network (that we’re excited to begin announcing in the coming weeks!).

However, with all this growth, SX team has consistently been getting feedback from people both inside and outside the community that there was a narrative problem. This was compounded by the fact that there were essentially two separate brands (SportX and SX Network). SportX no longer makes sense as a brand, both because the SX brand is stronger but also because SX has begun expanding beyond sports into new