What Is SORA (XOR)?

SORA (XOR) is both a supranational economic system that aims to decentralize the concept of a central bank and a Polkadot ecosystem network linked to the Polkadot relay chain and the parachains with built-in DeFi tools. The SORA network provides tools for decentralized applications that utilize digital assets, bridge tokens to other blockchains, and develop programmatic rules involving digital assets. Besides Polkaswap, one of the significant applications running on the SORA network is the SORA decentralized economic system itself. The SORA network believes that it has the potential to serve the current crypto sphere and countries alike and expand into other digital worlds, such as the metaverse. (The metaverse is an idea of an online, virtual, 3D space linking users in all aspects of their lives.)

XOR is the governance token of the SORA network. The token holders have various utilities, such as:

• Transaction fees (gas) on the SORA substrate network 

• Elastic supply, controlled by a token bonding curve

• Allowing holders of a specific amount to become citizens and members of the SORA parliament

• Staking and becoming a validator on the SORA Network

• Adding liquidity to pairs on Polkaswap

As per the website, XOR is explicitly designed to be used as a currency in any country because it lets governments make funding proposals and mint XOR for productive economic activities through a democratic process. (The term "minting" refers to the act of making or developing something. In the crypto world, minting means verifying information, making a new block, and recording that information into the blockchain.)

History of SORA (XOR)

The founder of the SORA network is Makoto Takemiya.