SORA Price (XOR)

What is SORA?

SORA is about creating a supranational economic system that can efficiently provide capital to producers, thus pushing humanity forward, as well as a supranational and democratic governance structure to allocate capital in a fair way. It is both a new economic system that decentralizes the concept of a central bank as well as a network that implements a new way to architect a parachain blockchain that connects to the Polkadot relay chain and ecosystem with built-in tools focused on DeFi.

The SORA 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.

SORA XOR is the native utility token that is:

• Used for transaction fees (gas) on the SORA substrate network

• Elastic supply, managed by a token bonding curve

• Enables holders of a certain amount to become a citizen and member of the SORA Parliament

• Used to add liquidity to pairs on Polkaswap

• Used to stake to become a validator or to nominate validators on the SORA Network

More about SORA tokenomics

How Many SORA XOR Coins Are There in Circulation?

SORA XOR supply is elastically managed by a token bonding curve smart contract with buy and sell price functions. This means that as the token supply increases, the price also increases, and vice versa. The token bonding curve (TBC) manages the supply of tokens in a rational way, without involvement of humans, and it creates a system that avoids the boom-bust problems of traditional economies and the deflationary economics of many cryptocurrencies.

Where Can I Buy SORA XOR?

SORA XOR is available for trading on a growing number of exchanges. One of the main exchanges is a cross-chain AMM DEX Polkaswap.

What Makes SORA Unique?

The SORA substrate network bridges Ethereum and wil bridge Bitcoin to make cross-chain communication with both blockchains possible, while connecting to Polkadot and Kusama. This allows the Ethereum and Bitcoin communities to use SORA to access Polkadot and Kusama via a user-friendly bridge. With Polkaswap integration, users can trade any asset on Ethereum and Bitcoin on the Polkadot and Kusama networks and provide real cross-chain swaps.

SORA Parliament is the governance system for the SORA Network, its main task  is to allocate newly minted XOR to productive projects. It has multiple bodies with clear separation of powers and where the members (Citizens) are chosen randomly. It is built around three main concepts:

• Isonomia: the principle that everyone who is a citizen has political equality

• Isegoria: the right of all citizens to speak and contribute

• Sortition: randomly choosing groups of citizens to make decisions

To compensate citizens for their time, 1% of the funds that are allocatable to projects for productive uses shall be distributed to citizens. Learn more about the Parliament and the governance bodies.

Who Are the Founders of SORA?

The founder of SORA, Makoto Takemiya, is the creator of the Proof-of-Importance algorithm used in NEM. He started his work on the SORA project back in August 2017. The key thesis of the SORA economic system is that for cryptoeconomic systems to be able to compete with contemporary, centralized economic systems, there needs to be a rational economic model. To create a rational economic model, the team did a survey of various economic theories. Over the course of this time Yokei Yamaguchi, an economist, joined the team in 2018, and he helped with several key parts of the model. On October 17, 2019, the SORA v1 Network launched. However, the technology has improved, giving the possibility to shape a new and more ambitious type of crypto ecosystem. Whereas the medium-term goal remains generating value for our community, analysis of the SORA economy has led to embrace the long-term goal of realizing a supranational world economic system. SORA v2 substrate Network is a profound and significant upgrade to the SORA Network and the SORA tokenomics.

Related Pages:

There are several medium articles that represent different features and strategies for building a strong decentralized economy. You can find all the articles here.

Below are just some of the articles you might be interested in:

SORA: The New Economic Order

The SORA Parliament

SORA Validator Reward Token: $VAL

How to Run a SORA Mainnet Node

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