Launched in 2019, SORA is a decentralized blockchain protocol based within the Polkadot ecosystem that allows applications to be built on top. For example, applications providing atomic swaps solutions and cross-chain bridges can easily be built using the SORA tools. It was founded on the premise that cryptoeconomic systems must have a rational economic model, that is removed from human input. As such, the protocol has devised its unique SORA Token Bonding Curve to determine the price of its SORA utility token. The SORA ecosystem is connected to the Polkadot relay chain and its subsidiary parachains.

What are SORA’s key features and how does it work?

In more detail, the SORA economic model includes three tokens: XOR, VAL, and PSWAP. XOR functions as the SORA network utility token. VAL is used as a reward for validators. Validator run nodes that are responsible for ensuring network security. PSWAP is used as a reward for liquidity providers on Polkaswap.

As mentioned, SORA uses a token bonding curve to manage its supply of XOR tokens. It removes the need for human input via the use of algorithms. Essentially, a smart contract manages the input of tokens and outputs new ones with two linear functions. These are a Puy-Price Function and a Sell-Price Function. Simply put, it works like a decentralized bank that automatically changes the XOR price according to supply and demand.

The SORA app is a core component of the ecosystem. Compatible with Android and iOS, users can manage their SORA accounts, store SORA network tokens in the wallet, as well as swap and pool tokens with its Polkaswap integration.

SORA network is governed by the SORA Parliament. Users need XOR in order to take part.

What can SORA be used for?

SORA can be used to create a range of applications. One of the most prominent dApps is Polkswap. The dApp operates as a liquidity aggregator AMM DEX. It is non-custodial and run by the SORA community. In simple terms, Polkaswap facilitates trades with low transaction fees and fast speeds. It offers swaps across Ethereum, Polkadot, Kusama and other major blockchains.

Where can you buy XOR?

XOR is available for trading on the following CEXs and DEXs listed here. The most popular platforms with the highest liquidity are MEXC Global, Gate.io, and KuCoin. The price of XOR will vary depending on the choice of exchange and overall market conditions. For up-to-date and historic data for XOR market prices, please view the price charts on this page.