What Is Sora (XOR)? Complete Guide Review About Sora.

What Is Sora (XOR)?

What Is Sora (XOR)?

The Sora Network excels at providing tools for decentralized applications that use digital assets, such as atomic token swaps, bridging tokens to other chains, and creating programmatic rules involving digital assets. The currency of the interplanetary future human race needs to have predictable price dynamics to enable selling goods, either digital or physical, and the tokenomics of XOR allow for this predictability, making it the ideal token to power commerce across the Universe. XOR is an open-source and fully decentralised token, answering the Meta verse’s need for interoperability and data portability.

Sora Storage Key Points

Coin BasicInformation
Coin NameSora
Short NameXOR
Circulating Supply439,154.98 XOR
Total Supply406,855
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

Technology

Sora is built on Parity Substrate and Polkaswap is a decentralized app that is being built on top of the network. They are currently working to connect to the Polkadot relay chain and parachains with built-in tools focused on DeFi. Used to reward validators on the Network with a decreasing supply over time, with tokens burned at every v2 network transaction.

This aims to be a New Economic Order. This has the potential to scale not only to serve the current crypto sphere and countries alike but also extend into other digital worlds, such as the Meta verse. Far into the future, when humankind breaks through to become a multi-planetary species, They can scale with the economy, while still maintaining decentralization as its main characteristic.

Polkaswap

Polkaswap is a non-custodial liquidity aggregator cross-chain AMM DEX for the interoperable DeFi future, run by the community. Based in the Polkadot and Kusama ecosystems and built on the Sora network. The key thesis of the economic system is that for crypto economic systems to be able to compete with contemporary, centralized economic systems, there needs to be a rational economic model. In the current ecosystem there are XOR, VAL, and PSWAP tokens.

The Many Worlds of SORA

The community envisions a new economic world order — one that is truly decentralized and democratic. Sora is building to deliver financial inclusion for all without discrimination, and provide a better method to manage day-to-day finances. This is both a supranational world economic system that decentralizes the concept of a central bank as well as a network in the Polkadot ecosystem that will connect to the Polkadot relay chain and the parachains with built-in tools focused on DeFi.

The network excels at providing tools for decentralized applications that use digital assets, such as atomic token swaps, bridging tokens to other blockchains, and creating programmatic rules involving digital assets. Besides Polkaswap, one of the main applications running on the network is the decentralized economic system itself.

Governance

Become a citizen and be eligible to be selected for the Parliament (coming soon!) to provide your opinion on network updates and capital allocation. By submitting Request for Proposals, users can tender the development and implementations of functions they would like to have on Polkaswap and the network. Vote on proposals to apply changes to the network and for projects to be built in using the App. Become a Nominator by staking tokens and receive rewards for that. Become a Validator to validate blocks in Sora and receive rewards for that.

SORA Token Bonding Curve

A token bonding curve is a smart contract that takes the input of some token and outputs a new token. This creates a plethora of possible variations to drive an exciting area of research, but in Sora use a simple model where there are two linear functions a Buy-Price Function and a Sell-Price Function.

In simple words, the token bonding curve is essentially an infinitely liquid, decentralized central bank. At any time, you can buy newly minted XOR from the token bonding curve using some specific reserve assets, or sell your XOR tokens (which are instantly burned) for one of those assets.

Sora Furthermore, because the token bonding curve’s pricing functions slope upwards, the price increases with the token supply. Keep always in mind that with a token bonding curve, XOR price and supply are correlated, and they move accordingly.