Here's Why ICON Rebranded to SODAX and Abandoned its Layer-1

The last time ICON (ICX) was making headlines, it was at the height of the ICO bubble when it was competing with Tron and Filecoin to buy BitTorrent in a high-profile bidding war.ICON, once heralded as the “Korean Ethereum,” peaked early in 2018 but later struggled to retain relevance amid fierce competition and a changing narrative.Now, ICON is back in the news, as it recently announced that it has rebranded to SODAX and is migrating its entire DeFi infrastructure from its own Layer-1 blockchain to Sonic, an EVM-compatible network focused on high-speed, low-cost transactions.Sonic itself is a product of a rebrand, shifting from the name Fantom in 2024 source: https://www.coindesk.com/markets/2025/05/12/here-s-why-icon-rebranded-to-sodax-and-abandoned-its-layer-1