The ICON Foundation said the ICON network will be permanently shut down on December 31, 2026. Once that date arrives, all on-chain transactions will stop and the network will switch to a read-only state, leaving users with access only to historical records. The closure also means the native token ICX will be migrated to SODA, with holders required to complete the process before the final deadline.
A 9-year Layer 1 closes as focus shifts to SODA X
ICON, a long-running public blockchain that gained attention during the 2017 ICO boom and was often described by its community as the “Korean Ethereum,” is ending its Layer 1 chapter. According to the team, ICON was built at a time when cross-chain settlement infrastructure was still lacking. Today, the project argues that the market’s main constraints are no longer settlement, but liquidity, user experience, and execution efficiency.
That view led to a broader rebrand over the past year, with the team moving its resources to SODA X. The project describes SODA X as a cross-chain execution layer and liquidity system built around Intent and Solver technology. It says the system can already coordinate transactions across more than 18 blockchain networks. The foundation said maintaining a Layer 1 that no longer fits its mission would only split capital and operational focus, making the network shutdown the final step in the transition.
Migration deadlines are set, with one-way conversion after September 30
The published timeline starts with a governance vote in May 2026, allowing node validators to formally approve the shutdown plan. On September 30, 2026, the two-way token migration bridge will be closed, after which only one-way conversion from ICX to SODA will remain available. The final cutoff comes on December 31, 2026. After that date, ICX will no longer be eligible for migration.
For users holding ICX in self-custody wallets, the foundation said migration must be completed through SODA Exchange before year-end, and a small amount of $S on the Sonic network will be needed for gas. Users keeping ICX on centralized exchanges are not expected to take action themselves, as exchanges will announce and carry out token conversion plans during the summer. The notice also said Kraken has already added SODA to its listing roadmap.
Project resources move fully into cross-chain infrastructure
The shutdown does not end the broader project effort. Instead, the team is shifting entirely toward SODA X and its cross-chain positioning. The source material notes that SODA X SDK v2 has been launched and that support for AI agent development has been added. After the ICON network is closed, the original chain will no longer process transactions and will remain available only as a historical reference layer.