TX: how it works, supply and reviews

In short

Type: Layer-1 blockchain; the TX Chain was formerly known as the Coreum chain
COREUM conversion: COREUM converted to TX at 1:1, including staked tokens, with no action needed
Risks and caveats: Bridged XRP on the TX chain lost its backing in the August 2026 bridge exploit; TX said the Foundation is replenishing the reserves.
Checked: 31 October 2026

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Key facts

Ticker: TX
Official site: tx.org

Key facts checked on 31 October 2026 against official sources.

What is TX

TX is a proof-of-stake layer-1 blockchain for tokenizing real-world assets, formerly the Coreum chain. In March 2026 Coreum and Sologenic merged into TX after an on-chain vote: COREUM became TX at 1:1 and SOLO holders swap to TX. It runs on the Cosmos SDK and CometBFT, with Smart Tokens and a built-in DEX.

Network and consensus

Network and consensus — TX
Parameter	Details
Type	Layer-1 blockchain; the TX Chain was formerly known as the Coreum chain
Consensus	Bonded proof of stake enforced through CometBFT, with slashing for validator misconduct
Framework	Built with the Cosmos SDK and CometBFT; finality in about one second
Chain ID	coreum-mainnet-1: the chain ID did not change in the TX upgrade, and the base denom stays ucore
Launched	Block 1 of coreum-mainnet-1 is dated 12 March 2023 (00:00 UTC; the explorer shows 11 March 2023, 4:00 PM PST)
Validators	Up to 64 validators; unbonding takes 7 days (604,800 s); minimum commission rate 5%
Smart contracts	WebAssembly (WASM) smart contracts
Interoperability	A decentralised bridge through IBC and a centralised bridge run by tx

Supply and issuance

Supply and issuance — TX
Parameter	Details
COREUM conversion	COREUM converted to TX at 1:1, including staked tokens, with no action needed
SOLO conversion	SOLO swaps to TX at 1:2.292756, set from 30-day TWAP prices at the 4 February 2026 snapshot
Snapshot	Snapshot on 4 February 2026, 00:00 UTC, at Coreum block height 63,741,886
Supply at TGE	1,903,142,509 TX from the merger conversion, before protocol inflation between snapshot and TGE
Proof of Support Emissions	100 billion TX minted at TGE, locked in on-chain vesting accounts and planned for release over 84 months
PSE split	Monthly PSE split: 40% stakers, 30% Foundation treasury and operations, 20% founding partners, 5% investors, 3% partnerships and growth, 2% team
PSE pause	Proposal 46 (passed) pauses PSE after the 6 November 2026 distribution; it resumes on 6 December 2027 unless extended

What TX is used for

Paying transaction fees on the TX chain.
Governance voting.
Staking and validation.
Compliance and regulatory access.
Ecosystem and developer incentives.

Who develops and governs TX

Developer: TX Labs, LC is the core developer, maintainer and technical operator
Legal entity: TX Issuer Ltd. handles token minting, admission to trading and regulatory filings for TX
Foundation: The merger moved the Coreum and Sologenic treasuries into a TX Foundation multisig
CEO: M J McCluskey is CEO, leading vision, design, strategy and implementation
Governance: On-chain governance; Proposal 29 on the migration to TX passed with 92.12% turnout (quorum 40%)
Open source: Node software (txd) on GitHub: tokenize-x/tx-chain

History

History — TX
Date	Event
12 March 2023	Block 1 of the Coreum mainnet (coreum-mainnet-1), the chain TX now runs on.
4 February 2026	Snapshot of COREUM and SOLO balances for the TX conversion at block 63,741,886.
5 February 2026	The Coreum Foundation and the Coreum and Sologenic developers put Proposal 29, the migration to TX, to an on-chain vote.
10 February 2026	Voting on Proposal 29 ran from 5 to 10 February 2026; the proposal passed.
6 March 2026	The v6 chain upgrade for the token merger, which converts COREUM to TX, was scheduled for 6 March 2026.
9 August 2026	The tx XRPL bridge was exploited and XRP was drained from its reserve wallet; the bridge was halted.
2 September 2026	Governance voted on Proposal 46 to postpone the remaining Proof of Support Emissions by at least one year; it passed.

Security and audits

Coreum, the chain TX runs on, has had three independent security audits; the latest was delivered on 26 November 2025 (23 findings: 18 resolved, 5 acknowledged).
On 9 August 2026 the tx XRPL bridge was exploited and XRP was drained from its reserve wallet; the bridge was halted, and TX said affected users will be made whole.
On 15 July 2026 the chain halted when over 33.4% of voting power went offline because a shared node infrastructure provider had an outage.

Security incidents

Security incidents — TX
Date	What happened	Source
15 July 2026	Network halt: The TX chain fully halted when more than 33.4% of active voting power went offline at once because a shared node infrastructure provider had an outage. The core team then added alternative hosting providers.	explorer.tx.org
9 August 2026	Bridge exploit: The tx bridge between the XRP Ledger and the TX chain was exploited and XRP was drained from the bridge's reserve wallet. TX halted the bridge and said it had identified the vulnerability. Funds returned: TX said on 14 August 2026 that affected users will be made whole and that the Foundation is replenishing the missing XRP reserves in full, restoring 1:1 backing for bridged XRP.	x.com

Risks and caveats

Bridged XRP on the TX chain lost its backing in the August 2026 bridge exploit; TX said the Foundation is replenishing the reserves.
The chain halted in July 2026 when validators sharing one infrastructure provider went offline; TX said the top 2 validators held 32.67% of voting power.
Holders who do not convert keep legacy tokens without development, liquidity or ecosystem support.
TX says it is not a registered broker-dealer, exchange, custodian or bank; regulated services come from third-party providers.

Official links

Website: tx.org
Docs: docs.tx.org
Whitepaper: tx.org/whitepapers
Source code: github.com/tokenize-x/tx-chain
Block explorer: explorer.tx.org/tx
Blog: medium.com/@txEcosystem

Questions and answers

What is TX?

TX is a proof-of-stake layer-1 blockchain for tokenized real-world assets, built with the Cosmos SDK and CometBFT. It brings together the Coreum and Sologenic networks.

Is TX the same as Coreum?

Yes. The TX Chain was formerly the Coreum chain. After Proposal 29 passed in February 2026, the v6 upgrade on 6 March 2026 converted COREUM to TX at 1:1, and the chain ID is still coreum-mainnet-1.

What happened to Sologenic and SOLO?

Sologenic says its ecosystem is now part of TX. SOLO holders swap SOLO for TX through the Sologenic bridge at 1 SOLO to 2.292756 TX.

What is the supply of TX?

The merger conversion created 1,903,142,509 TX before inflation. A further 100 billion TX was created at TGE as locked Proof of Support Emissions; Proposal 46 pauses their release after 6 November 2026 until 6 December 2027.

Has TX been hacked?

On 9 August 2026 the tx XRPL bridge was exploited and XRP was drained from its reserve wallet. TX halted the bridge and said affected users will be made whole.

Sources

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Page updated: 2026-11-01