Five months after SX Bet announced the end of its SX token, the exchange is still running on the chain the token was built for, and its fees now go to the company rather than to the token. On 15 May 2026 SX Bet said in a blog post that SX Network would move to a new gasless chain architecture, that the current blockchain was “planned to be deprecated” and that the token would lose its main technical role as the network’s gas token. Holders in a retroactive snapshot taken that day were offered USDC bet credits on SX Bet with a face value of $0.015 per SX token.
The terms holders had to accept
The credits were not automatic cash. To activate them, holders had to verify the snapshot wallet and accept SX Bet’s SX Token Sunset Terms and bet-credit terms by 15 August 2026, or lose the right to the credits. The terms say the company does not claim $0.015 is SX’s fair market value. They also include a release: by accepting, holders give up claims against SX Bet, SX Network and related parties arising from SX tokens. The snapshot covered SX, wrapped SX and staked SX on SX Network, Polygon and Ethereum. CoinGecko still quotes SX at about $0.0196, on less than $4 of 24-hour trading volume this evening.
What has and hasn’t moved
The exchange itself has changed. SX Bet’s news page announced that V3 would go live on 25 August, and the developer changelog says older V2 trade-history endpoints have returned 404 errors since 14 September. The chain migration is another matter. L2BEAT still lists SX Network as an Arbitrum Orbit chain with about $23.4 million in total value secured, with a note that the token is being sunset and the network is planned to be deprecated. We found no published date for the new chain or for switching off the old one. More on the project, including token contracts, is on our SX Bet project page.
Where the fees go now
DefiLlama’s adapter for SX Bet V3 reads commission straight from the exchange’s escrow contract. It shows about $68,000 of commission in the 30 days to 18 October, with daily figures between roughly $3,500 and $12,600 from 9 October. The chart above shows those daily figures. Its methodology notes say V3 commission is charged on the profit of winning bets, that market makers receive none of it and that it is paid to an SX fee wallet and, from 4 September 2026, to a treasury contract that also holds the SX community fund. For V2, DefiLlama notes that commission collected through 2025 was spent buying SX on the open market, and that from January 2026 it went to the team’s treasury instead. Those are DefiLlama’s readings of on-chain flows, not company accounts, and the series has gaps before 9 October.
Key facts
Sunset announced: 15 May 2026 (snapshot the same day: SX, wrapped SX and staked SX on SX Network, Polygon and Ethereum).
Holder offer: USDC bet credits on SX Bet at $0.015 per SX; terms had to be accepted by 15 Aug 2026.
Exchange: V3 live since 25 Aug 2026; V2 trade-history endpoints return 404 since 14 Sep 2026.
Chain: SX Network still listed by L2BEAT (about $23.4M total value secured); no deprecation date published as of 19 Oct 2026.
V3 commission: about $68,000 in the 30 days to 18 Oct 2026, per DefiLlama; paid to a treasury contract since 4 Sep 2026.
Why it matters for GambleFi
SX was the gas token of a chain built for one betting exchange. Its sunset shows that a protocol can keep its product and its fees while its token loses its role. Offshore on-chain exchanges increasingly call themselves prediction markets, the same label at the centre of US fights such as the one in our report on Novig’s suit against Missouri. For the wider context, start with what GambleFi means in practice or our GambleFi FAQ. This is a news report, not investment or betting advice. SX Bet restricts users in a list of countries, including the United States and the United Kingdom.