[Crypto projects](https://revain.org/projects/) › TX

# 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

## Key facts

- **Ticker**: TX
- **Official site**: [tx.org](https://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

| 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

| 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

| 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

| 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](https://explorer.tx.org/tx/proposals/45) |
| 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](https://x.com/txEcosystem/status/2087269579190046895) |

## 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](https://tx.org/)
- Docs: [docs.tx.org](https://docs.tx.org/)
- Whitepaper: [tx.org/whitepapers](https://tx.org/whitepapers)
- Source code: [github.com/tokenize-x/tx-chain](https://github.com/tokenize-x/tx-chain)
- Block explorer: [explorer.tx.org/tx](https://explorer.tx.org/tx)
- Blog: [medium.com/@txEcosystem](https://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

- [TX - Home](https://tx.org/)
- [TX - FAQ (last updated 6 February 2026)](https://tx.org/faq)
- [TX - MiCA White Paper v1.10 (5 February 2026)](https://download.tx.org/Whitepaper.pdf)
- [TX Docs - Introduction](https://docs.tx.org/docs/next/overview/introduction)
- [TX Docs - PSE Distribution Mechanism](https://docs.tx.org/docs/next/sologenic-coreum-merger/pse-distribution-mechanism)
- [TX Docs - NFT Migration Guide: XRPL (Sologenic) to TX Chain](https://docs.tx.org/docs-bridge/nft-migration-guide)
- [TX Docs - Upgrades history](https://docs.tx.org/docs/next/nodes-and-validators/upgrades/upgrades-history)
- [TX - Token Generation, Migration, and Proof of Support Emissions (Medium, 5 February 2026)](https://medium.com/@txHQ/tx-token-generation-migration-and-proof-of-support-emissions-5750aadbdba0)
- [Coreum Proposal 29: Official Results (Medium, 10 February 2026)](https://txdev.medium.com/coreum-proposal-29-official-results-interpretation-and-outcome-report-fcd780295217)
- [Coreum/TX governance - Proposal 29 'Proposed Migration to TX' (on-chain record)](https://explorer.tx.org/tx/proposals/29)
- [TX governance - Proposal 45, voting power cap (on-chain record)](https://explorer.tx.org/tx/proposals/45)
- [TX governance - Proposal 46, PSE postponement (on-chain record)](https://explorer.tx.org/tx/proposals/46)
- [Coreum/TX mainnet - block 1](https://explorer.tx.org/tx/blocks/1)
- [Coreum/TX mainnet - block 66,484,000 (v6 upgrade height)](https://full-node.mainnet-1.coreum.dev:1317/cosmos/base/tendermint/v1beta1/blocks/66484000)
- [Coreum/TX mainnet - applied upgrade plan v6](https://full-node.mainnet-1.coreum.dev:1317/cosmos/upgrade/v1beta1/applied_plan/v6)
- [TX explorer - overview (supply)](https://explorer.tx.org/tx)
- [TX explorer - chain parameters (staking)](https://explorer.tx.org/tx/params)
- [TX - Vision, Action, and the Road Forward (Medium, 14 August 2026)](https://medium.com/@txEcosystem/vision-action-and-the-road-forward-c992f6c07b50)
- [TX on X - XRPL bridge incident update (11 August 2026)](https://x.com/txEcosystem/status/2087269579190046895)
- [TX - tx-chain repository (GitHub)](https://github.com/tokenize-x/tx-chain)
- [Sologenic - Home](https://sologenic.org/)

## More in this section

- [UNUS SED LEO (LEO)](https://revain.org/projects/leo-token/)
- [Verus (VRSC)](https://revain.org/projects/veruscoin/)
- [BitShares (BTS)](https://revain.org/projects/bitshares/)
- [Streamr (DATA)](https://revain.org/projects/streamr-datacoin/)
- [LUKSO (LYX)](https://revain.org/projects/lukso/)
- [Novacoin (NVC)](https://revain.org/projects/novacoin/)
- [All Crypto projects →](https://revain.org/projects/)

## How voting works

Votes are anonymous and carry no text. Each device has one vote per item; press the same button again to remove it. Cloudflare Turnstile checks that a person is voting. We keep a random device ID in a cookie and a salted hash of the IP address to limit abuse — no names, no accounts. Votes are visitors’ opinions, not investment advice.

Page updated: 2026-11-01

---
Source: https://revain.org/projects/tx/