What Is SportX (SX)

SportX (SX) is a smart-contract protocol and web-based application operating on the Ethereum and Matic blockchains. SportX enables the creation, trading, and settlement of cryptocurrency-based sports betting and political-prediction markets. The protocol aims to combine decentralized finance (DeFi) and community ownership to provide users with a fair and transparent betting platform owned, controlled, and managed by SportX protocol. Users can establish their odds and trade against each other due to low cost, tournaments, and noncustodial exchange technology implemented by SportX protocol.

As per the whitepaper, the SportX protocol contains smart contracts that power the entire SportX ecosystem. The protocol forms, processes, and settles all bets on-chain. On-chain transactions are blockchain transactions stored on a distributed public ledger. SportX includes the control mechanisms, configurable fees, maintenance controls, and guidelines that govern the network. SportX is a person-to-person betting exchange platform that allows users to offer and take bets. This betting model leads to improved odds and eliminates owners' ability to exploit the users' profit. Additionally, the SportX protocol features a community-managed treasury. This treasury is in charge of the progress of the ecosystem through incentives such as liquidity mining, marketing initiatives like tournaments, and other strategic partnerships.

SX is the native token of the SportX protocol based on the ERC-20 token standard. The SX token intends to serve its purpose by facilitating shared community ownership and governance to guide SportX to a sustainable future.

The token has three prominent use cases:

-governance of the protocol

-staking the tokens to participate in governance votes

-staked SX, which allows users to earn a reduction on any exchange fees

History of SportX (SX)

SportX was launched by SX Network in March 2019. Julian Wilson and Andrew Young founded the SX Network. Julian Wilson is a computer engineer from Queen's University in Canada. Andrew Young, who serves the network as project lead, is an alumni of Western University in Canada. SX has a maximum supply of 1,000,000,000 tokens.