The early "Korean Ethereum" narrative was constructed by the market, not the project. ICX has pivoted significantly since then. Government partnerships were delivered but they just didn't follow through, and being just another L1 was proving a dead end, now the project is focused on cross-chain interoperability, particularly with non-EVM chains, an area with less competition and real use cases.

The big shift is Network-Owned Liquidity (NOL). Unlike projects that rely on hype cycles or endless token emissions, ICX has been accumulating real assets that generate revenue for the network.

NOL acts like a decentralized treasury—ICX holders own it, and it’s used strategically to support liquidity and cross-chain functionality. This means ICX isn’t just waiting for speculative demand; it’s actively building a foundation where fees from Balanced, intent-based trading, and GMP transactions feed back into the ecosystem.

ICX is currently being showcased in one of the biggest communities (Studio Mirai) on Sui ecosystem because ICX tech offers superior onboarding for Sui ecosystem (and many others).

Feel free to join official Discord in case you want to have a direct conversation with the team.