Buy Sora (XOR)

What is Sora?

Sora is an adaptive, non-debt-based monetary framework designed to enable economic monetary stability, particularly aimed at benefiting financially vulnerable countries. It operates as a decentralized economic system by leveraging a token bonding curve to manage currency supply and establishing a framework for creating innovative financial applications under democratic supervision.

How does Sora work?

Sora is built on the Substrate framework and functions as a parachain within the Polkadot ecosystem, facilitated by the Sora community. The network employs a Proof of Stake (PoS) consensus mechanism, where validators are determined based on the XOR tokens they stake. A unique feature of Sora is its token bonding curve, which is employed to manage the supply of XOR tokens. This mathematical model ensures continuous liquidity and predictability. Additionally, Sora utilises smart contracts to autonomously and transparently manage the issuance and burning of XOR tokens, thus reducing the need for intermediaries.

What are the potential use cases for Sora?

Sora's potential use cases include serving as a payment medium within the network, participating in governance via token voting and the Sora Parliament, providing liquidity on Polkaswap, and staking to become a validator. Other applications involve funding projects, facilitating cross-chain asset swaps through Polkaswap, offering neo-banking solutions with IBAN and debit cards via the Sora Card, and supporting Central Bank Digital Currencies (CBDCs) for vulnerable economies. Notable applications and collaborations include the Bokolo Cash CBDC by the Central Bank of Solomon Islands and partnerships within the Polkadot and Kusama ecosystems.

What is the history of Sora?

Sora was developed by SORAMITSU, a technology company known for blockchain innovations like Hyperledger Iroha. The project seeks to decentralize central banking concepts and enhance economic systems using a token bonding curve. Significant milestones include becoming a Polkadot parachain, leveraging its ecosystem for enhanced cross-chain communication, and developing Polkaswap for decentralized asset trading. The Sora2 network further improved Sora's capabilities, including better DeFi tools and cross-chain communication. Sora's adaptive monetary framework continues to evolve, promoting economic stability and integration with major blockchains, while governance is driven by the Sora community through the Sora Parliament.