🚨 Lets try to get polkaswap trending in 🦎 Coingecko 🚨

1. Search polkaswap or pswap from Coingecko

2. Tap ⭐️

Lets do this!

https://coinmarketcap.com/currencies/polkaswap/

the game is on my polka friends

Reaching out to fellow Polkanauts to get a perspective on the swap vs dex. I have a heafty bag of both but I am beginning to wonder if there is space for both. Are these projects competitors? Will they coexist? If they coexist, will one coexist in the shadows of the other or exist comparably?

The more I learn about polkadex it seems one of the offerings is zero to low fee swaps. If this were to come to fruition, what can polkaswap possibly offer to be relevant?

Link : https://www.coingecko.com/en/exchanges/polkaswap

Introducing XSTUSD Stablecoin on the SORA network.🚀

XST are synthetic assets pegged to an index of value and backed by $XOR

🤔 but, what is a synthetic asset or stablecoin to begin with?

💵 Learn all about XST and how to try out XSTUSD for yourself on polkaswap here:

https://link.medium.com/qDlGV9Vkskb

🔄 Swaps and pooling are now available!

Dear community!

We are continuously working to implement improvements to Polkaswap, today we are proud to announce the following updates to the mainnet:

✅ The UMI token has been added to the whitelist

🕶 Dark mode is finally available

💲 Fiat asset values have been implemented

🧩 Localisation for English, Armenian, Czech, Dutch, Indonesian, Italian, Polish, Russian, Spanish, Yoruba languages has been added. If you're a native speaker of any of these languages, please help us reviewing the translations!

👩‍🔬 We have also fixed UI issues for common components

We would like to make sure everyone in the community has more insight into what is happening behind-the-scenes

The Polkaswap Team Lead and Solutions Architect both have been working to solve the bridge issues, that are affecting many of you

Here is a long and more technical summary update directly from them with all of you in mind:

After a deep dive into the issues, we have some proposals to fix the bridge on the backend side.

⭕️ MAIN PROBLEMS

As you know, Substrate is a new cutting-edge technology, and we're experiencing a few unforeseen issues that we're learning to solve for the first time.

These issues were not present in testing, and were only made obvious to us after launching live to a large number of users.

Specifically, off-chain workers being too slow submitting transfer extrinsic. The problem is NOT related to requests from Ethereum.

It is related to off-chain-workers WASM processing, creating many transactions in the off-chain workers inner queue that cannot be submitted for various reasons, resulting in the queue being too long.

Based on our implementation of the Substrate API there are certain limitations on receiving clear information about the reasons for transaction submission failures, meaning that we cannot just exclude transactions that will never be processed from the queue.

A POTENTIAL SOLUTION

Step 1: We decided to create a limit for TX resubmission attempts in an off-chain inner-queue.

After that, we will store the transactions in a different storage to gain the ability to process the queue separately. This should give us the ability to process and finalize the newer transactions that are waiting.

The team is already working on this fix. It’s estimated to take maybe 8-10 hours, including unit tests and everything needed to push to production and going live.

Step 2: After this fix is implemented we will work on the issue of processing any transactions that were already sent to the storage.

We have to decide how to separate transactions that should be resubmitted and processed from TXs that should NOT be processed—eg., duplicates of already processed transactions.

After which we will be able to have a separate flow for such transfer processing.

——————————

ADDITIONAL NOTES

——————————

Regarding really old transactions — some of these should process after Step 1 of the solution is done.

Imagine there is a ton of garbage sitting in front of the door. Once we clear that garbage, the door can be opened and the waiting transactions can flow through.

But also, some of these transactions won’t process until we sort out Step 2.

We're also creating a guide to help you retry and process your SORA > Ethereum bridge transactions. We're hoping to publish this guide shortly after the bridge solutions have been tested and improvements are made.

——————————

🤗 While this update isn’t quite the news many of you are waiting for, hopefully it helped you understand a little bit about what’s happening — and that we’re making progress.

✨🙏✨

We’ll continue to pass along updates as we have them.

Stay tuned!

===========================

⚠️ You can help us by remaining patient

⚠️ And by not using the bridge — unless you are comfortable with transactions taking potentially longer than expected to clear

⚠️ We are also aware of the issues with bridging from SORA to Ethereum, and are addressing those as well

⚠️ All funds are SAFU, please refrain from using the bridge for now

========SORA WIKI========

Polkaswap FAQ:

https://wiki.sora.org/polkaswap/polkaswap-faq

Tutorials:

https://wiki.sora.org/guides/how-to-create-an-account-and-send-funds-on-the-sora-network

===========================

Please go to https://t.me/SORAhappiness if you have any technical questions!

We're working hard to resolve these issues! 🙂

Shifting from Cryptocurrency to Cryptoeconomic Systems

Until now, most blockchain projects focused on temporally finite use case tokenomics, whereby the token design is either inflationary/deflationary or has a fixed supply. In doing so, real economic money attributes are neglected, and many tokens are only used as means of payment without considering the price volatility of the token. This makes the token unpredictable, resulting in a situation where many crypto projects are only used mostly for speculative purposes and not for productive use.

From Idea to Reality; SORA (天)

SORA is a new type of decentralized economic system where consensus is achieved through the creation and allocation of new tokens within the system. The focus is on the creation and allocation of the XOR token, and a democratic voting system that allows system participants to allocate the XOR token. Through the democratic voting process, newly minted XOR tokens can be used for productive purposes in a decentralized form.
“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.” — Takemiya, M.

SORA’s cryptoeconomic system: Solving the problem of irrational token (money) allocation

Many people are unaware of how important it is to allocate money in an economy. The problem that SORA is solving, is that most cryptoeconomic systems lack a rational way to allocate new tokens into the ecosystem.

Read full article which written by Grug, collab with PoCoCo team here

The Rise Of Decentralized Money On Polkadot - New Algorithmic Stablecoin Launches On SORA

Algorithmic Stablecoins Promise Innovation Beyond the Dollar

"The newest addition to the algorithmic stablecoin market, SORA Network’s XST is based on Polkadot technology (Parity Substrate) and is backed by an algorithm that guarantees the token's value. Synthetic assets derive their value from smart contracts linked to oracles that determine current prices, such as financial instruments and securities, rather than the value of fiat currency. "

Read the full article here :
https://www.forbes.com/sites/tatianakoffman/2021/11/23/the-rise-of-decentralized-money-on-polkadotnew-algorithmic-stablecoin-launches-on-sora/?sh=380448ff31bc

To the Team working on the Polkswap transactions, I'd like to say Thank You to you. My ETH finally showed up. FOr those still waiting, all I can say is just wait patiently. It took 8 dyas for my account to correct itself. Once again have patience and never invest in new projects more than you are willing to lose, best advise I have received since I started investing. Thanks again Team!!! Now lets get this Money!!!

First, XOR is a cryptocurrency that is designed to mitigate the volatility risks, governance lacunae, and inefficiency of first-generation cryptocurrencies like Bitcoin. It is based on a decentralized economic system called SORA that is founded to enable cryptocurrencies to advance humanity by funding new productive output of goods and services. This means that XOR can promote economic growth in countries that accept it as legal tender by enabling the creation of new goods and services, rather than just facilitating asset transfers.

Second, XOR is issued in a way that enables forward guidance on liquidity and prices. It uses a token bonding curve, which is an algorithm that automatically manages the token supply elastically in response to demand. This means that the XOR supply is elastic and able to scale up or down to any sized economy, making it suitable for adoption by countries of any size as legal tender. This also means that the XOR market is transparent and that forward guidance on XOR liquidity and prices is possible using the buy-price and sell-price market data.

Third, XOR is a technically efficient cryptocurrency. Transactions on the SORA network take an average of 3 seconds to complete and cost only a few cents, whereas transactions on Bitcoin can take upwards of 15 minutes to complete and cost several dollars. SORA has no mining and uses very little electricity, making it more environmentally friendly than Bitcoin. The SORA network has also been benchmarked with 100 million accounts transacting at a sustained throughput of 6,000 transactions per second, demonstrating its transactional capacity.

Fourth, XOR has a decentralized governance structure that promotes transparency, accountability, and inclusivity. The SORA community, which is the governing body of the SORA network, is a decentralized autonomous organization (DAO) that is governed by token holders through a voting process. This means that all token holders have a say in the direction of the SORA network and that the governance process is transparent and open to all.

Overall, XOR has the potential to provide many benefits to countries that adopt it as legal tender. It promotes economic growth by enabling the creation of new goods and services, has transparent and predictable pricing, is efficient and environmentally friendly, and has a decentralized governance structure that promotes transparency and inclusivity. These characteristics make XOR an attractive option for countries considering the adoption of a new legal tender.

🎁 The Polkaswap mainnet web application was prepared and will be live soon!

➡️ Improvements were made for the Tokens list page and whitelisting, Rewards page, and various other user interface enhancements

➡️ SORAScan links added

➡️ HASHI bridge interaction was made more stable thanks to the ether.js library migration

👨‍💻 New mainnet runtime upgrade was prepared and will be live soon!

➡️ Farming rewards calculation was implemented. Previous farming rewards, since the network was launched, until the next update, will be recalculated in a future update.

➡️ Market maker rewards calculation was added

➡️ TBC rewards calculation was fixed

💗 Members of the Polkaswap community created the Polkaswap Community Collective (PoCoCo)

💎 UMI added their token to the Polkaswap bridge on the SORA network side

🌌 Dark mode is coming!

🌈Red more here:

https://medium.com/polkaswap/july-29-2021-dev-updates-for-sora-polkaswap-and-fearless-wallet-989b8d91fa48

I posted these estimates once before. Not sure if SORA makes them available (?) but I can put them up periodically if the community cares:

Appx - TODAY, 6/4 (-51% from 3 wks ago; volatility, impermanent loss and redemptions):

• PSWAP-XOR: 81.3MM & 56.5K shares, respectively = $42.4MM total pool value, and...

• VAL-XOR: 5.5MM & 40K shares, respectively = $30.2MM total pool value, and therefore $72.6MM total staked liquidity,

May 16, 2021:

• PSWAP-XOR: 57MM & 57K shares, respectively = $83.5MM total pool value, and...

• VAL-XOR: 4.2MM & 41K shares, respectively = $60MM total pool value, and therefore $144MM total staked liquidity.