Sora

What is SORA?

SORA is an on-chain governance system based around the XOR token, enabling producers to propose funding while all token holders collectively decide how to allocate XOR. This mechanism aims to ensure the creation of the best goods and services within the SORA economy. Key points include:

• SORA is based on the General Quantity Theory of macroeconomics.
• XOR serves as a supranational currency, managed by a computer program on a blockchain.
• Economic growth is facilitated by deploying money into the economy to create new goods and services.

---

Recent Video Interview

Main points of the interview:

• Interview with Sam Altman, CEO of OpenAI, the company behind GPT-4, ChatGPT, and Sora.
• A new board structure is seen as positive, aiming to make OpenAI's governance more robust.
• Sora, a product discussed, impresses both technically and philosophically.
• The models, like Sora, show significant progress but have clear limitations.
• The economic model for creators and copyright concerns were addressed, suggesting a need for fair compensation.

---

Background

The SORA v1 network launched in October 2019, issuing around 1.6 billion XOR. Subsequently, in March 2020, approximately 350,000 XOR were moved to the Ethereum network, initiating trading on Uniswap. With technological advancements, the vision expanded to create a supranational economic system, leading to the proposal of SORA: The New Economic Order, voted on and ratified by the community.

SORAnomics

The cornerstone of SORA's economic system is a rational model, derived from extensive economic theory exploration and collaboration with economists like Yokei Yamaguchi. The emphasis is on the change in money allocation as the determinant of growth, supported by empirical evidence. The SORA economy aims to balance real and financial transactions, expanding money for new goods and services to enhance economic output.

XOR (天)

XOR serves as the network utility token, utilized for transaction fees and with an elastic supply managed by a token bonding curve. Holders of XOR may potentially become citizens and members of the SORA Parliament. Additionally, XOR is used to add liquidity on Polkaswap and participate in the SORA network through staking.

VAL (≚)

VAL, a token to reward SORA network validators, operates with a decreasing supply over time, with tokens burned at each transaction. Holders receive rewards in XOR from the token bonding curve and can participate in DAOs to pool liquidity and vote on providing liquidity to trading pairs on Polkaswap.

PSWAP

PSWAP rewards liquidity providers on Polkaswap and operates with a decreasing supply, with tokens burned upon every swap. A percentage of swap fees on Polkaswap is used to buy and burn PSWAP tokens.

SORA Synthetics

SORA Synthetics are tokens pegged to value indices, with the first synthetic asset being XSTUSD. These tokens will soon expand to include other major stores of value, offering diverse investment opportunities on Polkaswap.

Token Bonding Curve Dollar (TBCD)

TBCD is a stablecoin proposed to maintain its value via the SORA token bonding curve. It aims to reduce sell pressure on XOR during low-price periods and facilitate funding for new goods and services.

KEN

KEN tokens are distributed to accounts burning at least 1 million XOR, with a portion of tokens used for buyback and burning on Polkaswap. Daily burnt KEN tokens are reminted to incentivize liquidity on Demeter Farm for farming rewards.

What Makes XOR Special?

XOR represents a groundbreaking supranational currency managed autonomously on a blockchain, free from the control of any single entity. It fosters economic growth by enabling countries to propose funding for productive investments through an open governance process, ensuring democratic decision-making. Unlike conventional cryptocurrencies, XOR integrates seamlessly into domestic economies, contributing to nominal GDP growth while maintaining democratic oversight.

Notably, XOR operates as a non-debt-based currency, offering a path to more egalitarian social outcomes by avoiding perpetual debt accumulation. Its utilization as legal tender within countries holds the potential to stimulate economic expansion by funding increased productive output. XOR embodies a paradigm shift in economic philosophy, promoting decentralized governance and equitable prosperity on a global scale.

Similar Assets

Some similar assets to Sora: Acala, Akropolis, Bounce, Bifrost Native Coin, Forj, Centrifuge, Clover Finance, Linear...

Project Development

In the realm of blockchain interoperability, SORA emerges as a pivotal player, particularly within the Polkadot ecosystem and beyond. Following the full operationalization of SORA Kusama and Polkadot parachains, significant progress has been made through the SORA Integrated Plan. Notably, Polkaswap, designed as the primary exchange for the Polkadot ecosystem, serves as a key component of this plan, showcasing SORA's commitment to expanding XOR's reach across Polkadot and beyond.

The journey began with SORA securing the first crowdloan of the year, leading to the establishment of the SORA Polkadot parachain. This milestone solidified SORA's integration into the Polkadot ecosystem, positioning it as the fiftieth parachain of the Polkadot relay chain. Despite the chaos surrounding the connection of the SORA network to the SORA Kusama parachain, successful parachain renewal was achieved, enabling further integration with other Kusama parachains.

The opening of HRMP channels presents non-trivial challenges, yet it offers substantial benefits to other networks, including the listing of native network assets on Polkaswap and bridging to Ethereum. Polkaswap's decentralized nature fosters accessibility and interoperability, aligning with the ethos of the Polkadot ecosystem.

Furthermore, advancements such as bridging DOT or KSM from SORA to the Ethereum mainnet enhance accessibility for Ethereum users and support the broader Polkadot ecosystem. Looking ahead, the SORA network aims to accelerate interoperability with initiatives like the Kensetsu token and multi-EVM bridge construction.

Sora Price Analysis

As of November 24 2024 Sora has a marketcap of $2.2M. This is {{percentagefromath}} from its all time high of $981.83. In terms of its tokenomics, there's a total supply of 393B with 100% currently outstanding. Keep in mind Sora has a fully diluted value of $2.2M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.