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Migrate assets

Learn how to migrate between bnUSD(old) and bnUSD on the Balanced exchange.

The Balanced protocol has merged with the ICON blockchain to become SODAX, a unified liquidity layer and DeFi platform based on the Sonic blockchain.

The merger requires a new technology stack, a transition that started with an upgraded trade experience in September 2025. With it came a new version of bnUSD, and a migration tool to move between bnUSD and bnUSD(old).

Move between bnUSD and bnUSD(old)​

You’ll need the new version of bnUSD to trade on every chain except ICON. Existing features, like bnUSD loans, the Savings Rate, and rewards, all use bnUSD(old).

To convert bnUSD(old) to bnUSD so you can trade, or get bnUSD(old) to repay your loan and use the Savings Rate, go to Trade > Migrate, then:

  1. Choose whether you want to receive bnUSD or bnUSD(old).
  2. Choose which blockchains to send and receive on.
  3. Enter the amount in one of the input fields. The other will update at a 1:1 rate.
  4. Click Migrate and complete the transaction.
The Migrate tab set to convert bnUSD(old) to bnUSD
Move your bnUSD(old) to a supported chain

The migrate tool only supports bnUSD(old) on ICON, Stellar, and Sui. If you hold bnUSD(old) on another chain, use the Bridge tab on the legacy exchange to transfer it to one of the supported chains, then follow the steps above to migrate.

Move between ICX and SODA (soon)​

ICON is transforming from a blockchain to a DeFi protocol, so it will have a new token called SODA. Once available, you’ll be able to use the Migrate tab to swap between ICX and SODA at a 1:1 rate.

Migrate from BALN to SODA (soon)​

As Balanced will no longer be a community-owned protocol, you’ll soon have the option to convert your BALN to SODA.

After bBALN holders vote to remove governance and unlock BALN without a penalty fee (expected in October 2025), the Migrate tab will be updated to support the migration from BALN to SODA.

The rate of SODA you receive will depend on how long you choose to lock up for:

  • No lockup = 0.5 SODA
  • 6 months = 0.75 SODA
  • 12 months = 1 SODA
  • 18 months = 1.25 SODA
  • 24 months = 1.5 SODA

By this time, SODA will also support staking rewards, so you can earn additional SODA during the lock-up period.