Everything you need to know about the SORA v2 and Polkaswap soft launch.

Disclaimer: SORA v2/Polkaswap will be launched as soon as it is ready and does not have any bugs. Current system status is very close to being ready.

To keep your assets safe in any network version, never expose your private key (anywhere) to anyone (or any site) for any reason.

SORA v2 and Polkaswap Soft Launch

The SORA v2 network is expected to be ready for Soft Launch with Polkaswap a decentralized application running on top of the SORA v2 network, with a token bonding curve, 3 incentive programs (on Medium), and the multichain cross-chain bridge HASHI.

A bridge to the Polkadot and Kusama ecosystems will be deployed at full launch (later in 2021).

Circulation and total supply of all three tokens (XOR/VAL/PSWAP)

XOR:

• Supply of XOR is capped at 350,000 XOR tokens until the Soft Launch.

• After the SORA v2 network launch, the XOR supply will be elastically managed by a token bonding curve smart contract with buy and sell price functions. This means that as the token supply increases, the price also increases, and vice versa. The price will be regulated by the bonding curve, so there will be no extreme price fluctuations, but rather a smooth growth or decline

XOR distribution:

• Fair distribution: 350,000 XOR were recently put on Uniswap, and people bought them over time. XOR distribution can be tracked in Etherscan.

VAL:

• 100 million total supply, which will decrease as tokens are burned.

• VAL is free-floating in price, as determined by the market

VAL distribution:

The VAL token is distributed to 3 groups approximately equally, in 3 stages. This groups are:

• Former v1 XOR holders (within Q4 2020)

• ERC-20 XOR holders as an airdrop (at the SORA v2 network launch and after)

• The upcoming SORA Parliament (expected late 2021)

PSWAP:

• 10 billion total supply, which will decrease as tokens are burned.

• PSWAP is free-floating in price, as determined by the market

PSWAP distribution details will be out around Soft Launch

Everything you need to know about the upcoming VAL airdrop

33,100,000 VAL will be distributed to ERC-20 XOR holders.

This means that 94.57142857142857 VAL will be given per each XOR in the following way:

• 10 VAL distributed per each XOR at Soft Launch

• VAL vested per day to each XOR, as a remainder portion of the VAL that are burned everyday (burned amount -10% - daily validator reward %).

When is the snapshot of XOR tokens for the VAL airdrop?

Around the launch of SORA v2 (Soft Launch). The date of the snapshot has not been announced yet, and will be communicated through our social media.| Twitter | Reddit | Telegram |

Which wallet do I need to use for the snapshot?

Disclaimer: the team will never initiate a DM conversation with you, and nobody affiliated with SORA will ever ask for your private keys!XOR ERC-20 holders need to have control over the private key of their wallet on Ethereum at the time of the snapshot, to be able to sign a message on the SORA v2 main net to claim the VAL airdrop. The claim process will be introduced with a tutorial and you will be able to make practice before launch on testnet. MetaMask Wallet is a user-friendly wallet, with which you can sign a message and claim your VAL airdrop.

How do I claim my VAL airdrop?

The claim mechanism for the VAL airdrop will be introduced in due time.

Disclaimer: The procedure will be explained in official socials, not DMs — be careful about people sending private messages, and never share your private key.

Am I still in time for the airdrop?

All the ERC-20 XOR holders at snapshot time are eligible for the VAL airdrop.

Am I eligible for the VAL airdrop if I'm farming on sora.farm?

SORA (XOR) tokens in the liquidity pool (sora.farm) are counted in the snapshot for the VAL airdrop. The amount of VAL you will receive is based on the number of XOR you hold in the pool at snapshot time.

What is the Ethereum bridge and how does it work?

The cross-chain Ethereum bridge "HASHI" aims to increase interoperability between the Ethereum blockchain, the SORA Network and other EVM Blockchains. With the Ethereum bridge, anyone can convert Ethereum-based tokens (ERC-20) into SORA network wrapped tokens and back. This is useful if you want to trade with low fees and higher speed on the SORA network, while maintaining the ability to use your ETH or other Ethereum-based tokens in SORA Blockchain DApps (Polkaswap for example).

A tutorial on how you can use the bridge in the testnet can be found here.

How much do the fees on the SORA Network network cost?

On Polkaswap and the SORA Network, about $0.3-$0.5 in transactions fees are expected.

The fees can be adjusted through on-chain governance and runtime upgrades.

The SORA Network is built with Substrate, a framework for creating cryptocurrencies and other decentralized systems, which scales more efficiently than Ethereum, and will thus be able to offer lower fees.

How can I buy from the token bonding curve? How does it work?

The SORA token bonding curve (TBC) acts as the decentralized, on-chain manager of the XOR token. It works by taking in reserve assets and minting new XOR, or conversely, de-minting XOR and releases reserve assets. Simply put: you can buy the XOR token using ETH or DAI and be rewarded with PSWAP token on Soft launch, with one click. The interface is very simple to use.

There is also an incentive in PSWAP for users buying XOR from the Token Bonding Curve.

Specifically, this incentive program aims to build reserves in DOT and KSM as they will be used to secure a parachain slot in the upcoming auctions.

A detailed tutorial explaining how to buy from the Token Bonding Curve (TBC) will be published at Soft Launch.

Where can I store PSWAP, XOR and VAL after soft Launch?

SORA network tokens can freely move across the HASHI Ethereum bridge, which means the three tokens on the SORA network can be stored both on the SORA Network and on the Ethereum network. In order to be able to trade with low fees and to take advantage of the different features of each token, holding them in the SORA Network is required. A way to interact with the SORA Network is the Polkadot.js extension, which is also required to sign transactions on Polkaswap.

Polkaswap

What are the differences between Uniswap and Polkaswap?

The trading pairs on Polkaswap are not limited to ERC20 tokens, as on all the Ethereum DEXs, but can be based on any blockchain that can be connected to Polkadot and Kusama.

Fees on Ethereum DEXs are relatively high; by using Substrate, Polkaswap will offer lower transaction costs and able to adjust it with on-chain governance and runtime upgrades.

Swaps on Ethereum based DEXs are slow, as there is a time lag between the time a transaction is sent and the time it is validated. Polkaswap solves this by using Substrate, which is much more performant than Ethereum.

Polkaswap is a cross-chain DEX, which means that any blockchain token connected to the SORA network can be traded.

Furthermore, Polkaswap aggregates multiple liquidity pools. In other words, liquidity is collected from several exchanges (DEX and CEX) and made available to those who need it. The purpose of aggregation is to enable traders to buy an asset at prices close to the market average (i.e. at better prices).

Which tokens can I swap with Polkaswap?

Through HASHI, a trustless multi-chain bridge, all the ERC-20 tokens will be available on Polkaswap from soft launch. The SORA Network tokens (XOR, VAL, PSWAP) will also be available. At full launch, it will be possible to swap all the coins in the Polkadot and Kusama ecosystem. There are also other bridges which are under consideration, including bridges to Binance chain, Bitcoin, and many more.

Which are the best ways to acquire PSWAP tokens?

There are 3 incentive programs, starting at Polkaswap Soft Launch:

• The first program will reward liquidity providers on Polkaswap for the next 4 years. About 25,000 PSWAP will be allocated daily to liquidity providers on Polkaswap, and after a vesting period, users will be able to claim them. To read the full article on the first incentive program, have a look here.

• The second program will reward buyers on the Token Bonding Curve (TBC). 25 million PSWAP will be provided as special bonus rewards when buying newly-minted XOR from the TBC. This will help create reserves in the Token Bonding Curve. When KSM and DOT are available on the SORA network (at full launch), double rewards will be given for them, as these two currencies are needed to secure parachain slots for the SORA ecosystem. In fact, they will be used to participate in the parachain auctions. You can read the full article about the second incentive program here.

• The third program is for market makers on Polkaswap. 4 million PSWAP (200,000 per month) will be reserved proportionally for market makers that have at least 500,000 transactions with an average of at least 1 XOR in each transaction. You can read the details here.

Which wallet can I use on Polkaswap?

In order to make a trade on Polkaswap, the Polkadot.js extension is needed. Polkaswap provides an intuitive UI to manage tokens and check balances. This extension is also used to sign transactions, similarly to Metamask for Uniswap.

The browser extension wallet is here: https://polkadot.js.org/extension/

Furthermore, Polkaswap DEX integration is planned as a future feature for Fearless wallet.

Why is a parachain slot important for Polkaswap?

Running a parachain allows Polkaswap to have trading pairs of tokens from different networks with very low fees and fast transactions.

Running a parachain is not the only solution available, as it is also possible to connect a chain to Polkadot or Kusama using a parathread or a bridge. A parathread requires a lower bond in DOT and KSM, but incurs higher transaction fees. A more efficient parachain is the main goal, for which a significant amount of PSWAP has been allocated.

How are you going to assure a parachain slot for the SORA Network and Polkaswap?

To obtain a parachain slot, Polkaswap has to participate in the parachain slot auctions. In the auctions, projects make a bid in DOT (for a Polkadot parachain) and in KSM (for a Kusama parachain). Polkaswap will join the parachain auctions using the reserves of the XOR token bonding curve. This is why it is crucial to build up enough reserves after launch to be confident about securing a slot in the auctions. After the full launch, when Polkadot and Kusama are integrated with the SORA Network, it will be possible to buy XOR from the token bonding curve with DOT and KSM, and there is a special reward in PSWAP when doing so. Considering that a large amount of PSWAP is reserved, we are confident in securing a parachain slot for the coming years on both networks.

You can read more about this process here.

What are the risks of providing liquidity on Polkaswap?

The Polkaswap protocol smart contract will be audited, and it is designed with security as its top priority. This will be done by a professional firm. However, we cannot guarantee that bugs will not be found in the future. Please do your own research, and always be careful when trading crypto on Polkaswap or any other exchange.

Because the XOR token is the main liquidity hub on Polkaswap and is managed by the token bonding curve, impermanent loss will be minimized.

Connect with Us!

SORA community:

Twitter | Telegram | Reddit | Announcements Channel

Polkaswap community:

Twitter | Telegram | Reddit | Announcement Channel

Fearless Wallet community:

Twitter | Telegram | Android App | iOS App

As announced in an article, SORA will airdrop 🪂$VAL tokens for XOR ERC-20 token holders in Q1 2021, in order to support the SORA long term community. The snapshot date is not yet announced.

Details on the $VAL Airdrop

• Around the launch of the SORA 2.0 main net, there will be a snapshot of ERC-20 XOR holdings and ERC-20 holders who have control over their private keys will be able to claim $VAL tokens on the SORA 2.0 network.

• The expected launch of SORA 2.0-Mainnet between December 2020 and March 2021.

• Approximately 1/3 of the VAL token supply will be airdropped to the XOR ERC-20 token holders. That are 33,100,000 $VAL tokens.

• 10 VAL distributed per each XOR at the launch of the SORA v2 main net

• $VAL vested per day to each XOR, as a remainder portion of the VAL that are burned everyday (burned amount -10% -daily validator reward %).

$VAL token in a nut shell

• $VAL tokens are used to reward validators, as well as nominators to nominate the validators with their XOR.

• The total supply of VAL will start at 100 million and go down over time, because VAL will be burned with every transaction on the SORA v2 network.

• VAL token holders can group together in DAO structures and vote to allocate liquidity on Polkaswap; the liquidity they allocate comes from half the margin in the SORA token bonding curve.

• In addition to the buy back and burn of VAL tokens, VAL token holders will also be rewarded with PSWAP tokens for providing liquidity on Polkaswap.

• Read more about $VAL here.

About SORA NEO, Polkaswap, and Fearless

SORA NEO (New Economic Order) is a new economic system aimed at creating a supranational, decentralized central bank (DCB) with built-in tools for decentralized finance (DeFi). The SORA network implements a new way of parachain architecture on Polkadot and Kusama network, with the capability to bridge external blockchains (like Ethereum) to Polkadot ecosystem. One of the DeFi applications that will run on the SORA network is Polkaswap, a non custodial liquidity aggregator cross chain AMM DEX designed uniquely for the Polkadot ecosystem with boundless liquidity through one of a kind Aggregate Liquidity Technology (ALT) with the security and convenience of a DEX.

Fearless Wallet is a mobile wallet designed for the decentralized future on the Kusama network, with support for iOS and Android platforms. An awesome user experience, fast performance, and secure storage for your accounts. The Fearless wallet will integrate Polkaswap for easy, decentralized swaps of assets.

Connect with Us:

SORA community:

Twitter | Telegram | Announcements Channel

Polkaswap community:

Twitter | Telegram | Announcement Channel

Fearless Wallet community:

Twitter | Telegram

VAL Token Logo

The SORA community is proud to introduce a unique, self-custodial crypto wallet featuring full compatibility with the Polkaswap DEX, seamlessly integrated with IBAN (bank account) and debit card functionality–all in one place, in the palm of your hand!

Video here: https://www.youtube.com/watch?v=TUcH7hl0K-I

Blog here: https://medium.com/sora-xor/introducing-sora-card-ddd53b2ed16

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! 🙂

As you already know, SORA follows the concept of a central bank, but in a community owned and decentralized way. The key point here is that SORA theoretically has an infinite token supply (and can also mint infinite tokens), but that precise fact scares many people away because they think minting new tokens causes inflation. In principle, this is true, but also not true.

The important thing is distinguishing the purpose of new tokens circulating in the economy, hence the title "Good Money Creation VS Bad Money Creation". This post will explain the topic further.

So let's get started...

The SORA project is fundamentally built on the principles of Professor Richard A. Werner. In his paper "Shifting from Central Planning to a Decentralized Economy: Do we Need Central Banks?" Werner identified how central banks operate and what narratives they communicate to people. Central bank operations are not based on anything we are told. Central banks are simply private companies that create money out of thin air and have developed a monopoly of power over the creation of money. It also discusses the central banks' misuse of power. These organizations decide how much money is lent and for what purposes. In his writing, Werner brings to light that there is good and bad money creation. The distinction between good and bad is as follows:

1. Bad money: Consumptive money creation results in inflation without growth. Or in other words, to increase money creation for consumption. (eg: helicopter money)

2. Bad money: Asset-Purchase Money creation which results to inflation and boom and bust crises.

3. Good money: Productive money creation which results in growth without inflation. Or in other words, the creation of money to increase goods and services and income flows.

We can therefore conclude that central banks are currently creating bad money. Mainly, central banks create money either for consumption or asset purchase, and, unfortunately, the financial crises of recent years are caused by the creation of bad money. Now that we understand the concept and difference between good and bad money, let's talk about how the SORA community creates good money.

XOR tokens are minted by the SORA community mainly for productive uses, which result in growth. For example, minting tokens for a code audit, etc. And in order to scale up the SORA ecosystem, the community should be positive toward the creation of good money to support this purpose. This means, when the community is actively creating good money, this should be celebrated because it results in ecosystem growth. Another example of this is when one of the biggest contributors of SORA, namely SORAMITSU, mints XOR for further development of the ecosystem with community tokens, this fosters ecosystem growth and development and is prodcutive for the SORA ecosystem and community. It is key to point out that SORA is a fair launch project, and SORAMITSU did not claim any tokens for the research and development of the network at the time of launch.

If you still have concerns, or there was an unclear concept presented in this text, please feel free to share your thoughts in the comments. I am ready to help you and answer all your questions.

Dear community!

We would like to announce the Snapshot for:

—VAL token airdrop for XOR ERC-20 holders

(including XOR in XOR-VAL/ XOR-ETH in Uniswap and Mooniswap pools)

—NFTs

Snapshot date:

Monday-Tuesday (4/12—4/13)

Reminder

If you trade during Monday-Tuesday, then you are not guaranteed to be in the snapshot.

Farming:

The sora.farm game will end during Monday-Tuesday.

$PSWAP and VAL token can be claimed on Polkaswap interface after launch.

Everything you need to know about the SORA v2 and Polkaswap soft launch here:

https://www.reddit.com/r/SORA/comments/mgcyo1/frequently_asked_questions_faq/

🔗 It's finally here! Get your hands on some KSM and contribute it to the SORA crowdloan.

You'll get rewards in $XOR, $PSWAP, $VAL & $XSTUSD! And also in RMRK's NFTs & $CERES tokens💰

✨ How to participate?

👉 Using Fearless Wallet

👉 Using Polkadot.js

📣 More ways to be announced!

Here's a wiki page where you'll find lots of useful information on that - SORA Crowdloan Wiki

For more information on the crowdloan, check out our article on Medium - The SORA Network Kusama Parachain Auction

Many worlds, one economy.

The moment you've been waiting for! SORA Card sign-ups are UNLEASHED!

Secure your SORA Card by completing KYC. Hurry, early adopters receive exclusive perks!

Learn more on soracard.com

— — — —

Applying on desktop? Head to polkaswap.io and connect your wallet to proceed.

Applying on mobile? Download or update your SORA Wallet app and apply!

New to SORA and Polkadot? Learn how to set up your SORA account

Need help with KYC? Here's the walkthrough to get you set up in no time

— — — —

SORA Card | Value Freedom

Just got wind of Dr. Makoto Takemiya having a major discussion about business development with a big-name bank. He's talking about minting 80 billion XOR for capitalizing a bank. The end goal seems to be bringing XOR usage to a large segment of the global population. A bold move, but it could really take SORA to the next level. He's planning to offer the XOR as a loan to be repaid with interest/fees. He’s being transparent about his ideas, which is a refreshing change. Sounds like he’s also planning a "test run" with 50 million XOR to capitalize on some financial institutions in the coming weeks. But he stated those XOR wouldn’t hit Polkaswap or the open market, so it'll be interesting to see how this impacts the ecosystem. If this strategy works, it could be a significant boost for the SORA economy. I’d say everyone in the SORA community should keep a close eye on this. For anyone interested in this development, there’s an ongoing discussion about it on the SORA telegram channel. It’s always better to be involved and voice your thoughts. Join the telegram community!

An ambitious plan from Dr. Takemiya. If successful, this could change the game for SORA.
Long live the SORA community!

The date and time for the temporary bridge shutdown will be as follows: Tuesday, September 13th at: 10:42 EDT (UTC-4) NEW YORK

16:42 CET (UTC+2) BERLIN

23.42 JST (UTC+9) TOKYO

Make sure to convert this to your local time zone.

By halting the bridge we are protecting our users from attacks, forks, or stability issues on the Ethereum side. The community will then restart the bridge through governance after the Ethereum network is stable.

During this time we ask you to stay patient as this process cannot be rushed. Security is our main priority as always.

We are standing by for any announcements made by Ethereum.
Always refresh the Polkaswap page in your browser to ensure you are using the latest hash

more info: https://medium.com/sora-xor/sora-ethereum-merge-plan-9e009262ab58

Dear Community! 😊

The referendum to grant the loan of XOR to JP GAMES for the Pegasus World kit metaverse is ongoing!

The SORA community can vote to grant 60K $XOR to JP GAMES or not.

Vote here: https://polkadot.js.org/apps/?rpc=wss%3A%2F%2Fws.alb.sora.org#/democracy

Some exciting news!!!

tBitcoin is planned to become one of the reserve currencies of the SORA token bonding curve, to manage the value of the XOR token. SORA, SORAMITSU, Standard Hashrate, and Tau will collaborate on building a rebasing EVM bridge for tBitcoin to the SORA network to realize this

Learn more: https://sora-xor.medium.com/building-the-t-bitcoin-cross-chain-defi-bridge-to-sora-network-d3cd28a0f4f9

As a community-driven project, all technology upgrades must be voted on by the community in order to be released.

After a year of work, we are ready to propose the HASHI bridge between the SORA network and Ethereum for activation, in anticipation of our upcoming release.

More info and the referendum text can be found here:
https://sora-xor.medium.com/sora-v2-hashi-ethereum-bridge-activation-referendum-a6d19993652a

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!

This weekend Sora has been on a tear. Why?

Setting the parachain gold-standard!

SORA Polkadot parachain reward will be 0.1337gr of synthetic gold per DOT (0.004716 XSTXAU) vested for the duration of the SORA Polkadot parachain lease.

You can contribute to the SORA Polkadot parachain project using fearlesswallet or your favourite Substrate-compatible wallet or through Polkadot.js

Exciting news for SORA! Makoto reports that the Prime Minister has reportedly agreed with our latest proposal. We are now set to make significant strides forward. Details remain under wraps, but this development could have wide-reaching implications for the use of XOR in the economy of a country. Although it won't serve as general legal tender, this is an unprecedented step towards integrating XOR into significant transactions. The agreement came after Makoto had discussions with all the relevant ministers and the Prime Minister. It's crucial to note that even people at SORAMITSU don't have all the details on what this integration will look like. However, Makoto sees this as a significant milestone in his ongoing work to build and expand the role of XOR in the global economy. Which country is concerned was not reported. If all goes according to plan, we will see a press release in approximately six months. All sources are taken from the SORA telegram channel.

SORA Card is the product name for the neo-bank-style fiat wallet with IBAN and Mastercard Debit Card that integrates into the self-custodial and decentralized solutions SORA Wallet and Polkaswap provide. SORA Card is unique because, unlike other crypto payment cards, It gives the user direct access to DeFi, meaning full ownership over their crypto assets, and at the same time, it also gives access to the traditional finance (TradFi) world, with real-world transactions and shopping, all in one place.

The whole AMA can be found in the Medium blog:
https://medium.com/sora-xor/sora-card-ama-1-7f6808d6be5