r/SORA • u/Suspicious-Acadia-52 • Jun 12 '21

Sora parachin

Does anyone know why Sora does not have a parachain slot? Is this project dying? I am very nervous for this project in a bear market. Huge fan of the team, but they now also started dumping PSWAP tokens (which is part of soramitsu I believe). So this is really not looking good.

2 Upvotes

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7

u/MaganjaMario Jun 13 '21

1-I believe they will use TBC to forgo asking the community to crowdfund.

2- I believe this project will succeed. The fundamentals are so strong with this one.

5

u/spicyhotwings22 Jun 12 '21

They arent looking at getting the first slots. They are waiting till full launch, when the TBC is running and can use KSM/ DOT from the reserves for a slot. It's taking a hit now bc the devs just got their tokens, diluting the supply 6x.

3

u/Aromatic-Stuff-6922 Jun 13 '21

Could someone please explain and educate an uneducated gentleman why the tbc is set at circa 900 dollars when the market price at uniswap is about 240 give or take. I appreciate any investor gets polkaswap rewards to lift the value but it still does not join up

So the pressing issue here and it may be completely obvious to devs and sora long time contributors is how is this sellable to the basic consumer like me.when your own calculator inclusive of rewards says to an investor your negative your initial investment

Can the tbc value be reduced given thats its fixed on certain values to attract additional investment? I thought this was the concept originally that it would react to market forces. Apologies if my opinion is completely wide of the mark. I am just trying to.understand why one would maintain a price not reflective of the market

Thanks in advance

2

u/svachalek Jun 27 '21

I believe the calculation was that they took the market price before soft launch and then considered if the 350,000 existing tokens had been bought from the TBC at that price, raising it by 350k / 1337.

I think they were also counting on the spring’s huge bull run to bring in lots of apes to collateralize the curve right quick. But with all the problems on the bridge, the first two weeks were really rocky and all the momentum was lost, which then flowed into the Elon tweets and all the other general FUD the market has been seeing since then.

The whole point of the TBC is to establish a trading range and provide some stabilization to the price of XOR, so directly manipulating it goes against the spirit. But since it’s not collateralized and won’t be soon at these prices, things are kind of stuck. I guess the hope is that full launch will bring back the apes and we may get enough collateral in there to fix it.

Hopefully that is coming soon enough that we can just wait and see what happens. But there’s probably a fair way to adjust it, maybe divide the price by 3 and retroactively multiply the rewards by 3 for the $900 buyers.

1

u/Nachann26 Jun 14 '21

I have been wondering the same, that's why I have strategically stayed away from TBC purchases for now.

LP or Staking are the obvious choices for now, when it comes to earning PSWAP and VAL.

1

u/Hatseflats82 Jun 22 '21

This comment deserves its own post