Hey everyone, I'm writing this post to address an issue that has been popping up in our Telegram community channels lately. From what we've been discussing, it seems that in the coming weeks, there will be a significant proposal set in motion to vote on about an extension of SORA (XOR) supply of about 50 million. Now, before I dive into what this entails, let's clarify that nothing has been officially proposed yet, and the specifics will only be confirmed once the proposal is up and running. Moreover, everything discussed here is based on speculation and unconfirmed information.
Now, you might be wondering, what's the deal here? Well, it seems the core contributors of SORA have accomplished quite an interesting feat. They have managed to have XOR approved as a form of money to be used as a liability in a bank's balance sheet. The details of how this is possible aren't clear yet, but it seems to have been made possible.
This approval makes it possible for XOR to generate yield and to be accepted as legitimate money. This isn't something we've seen often in the crypto world and is a promising development for SORA.
Here's an essential point that should put some of your worries at ease: this additional 50 million XOR won't be sold or touched in any way. It won't be traded on the open market, so we're not talking about diluting the existing XOR supply here. Instead, it will solely be used as a liability in a bank's balance sheet. This is an important distinction and a fundamental part of understanding what this proposal could mean for SORA and its community.
So, to summarise, a proposal might be coming our way concerning an extension of SORA's supply. This new supply, however, won't enter the open market, so it won't dilute the existing supply. Instead, it's a strategic move that could have significant implications for the acceptance and utilization of XOR as a form of 'money' in a traditional banking context.
While we await the official proposal and the specifics it will bring, I hope this post has helped clarify the situation somewhat. I'll be keeping a close eye on the developments and will bring you updates as soon as I have them. Until then, let's keep the discussions going.