A new economic system aimed at creating a supranational, decentralized “central bank” with built-in tools for decentralized finance (DeFi).
SORA is both a new economic system that decentralizes the concept of a central bank as well as a network that implements a new way to architect a parachain blockchain that connects to the Polkadot relay chain and ecosystem with built-in tools focused on DeFi.
The SORA Network excels at providing tools for decentralized applications that use digital assets, such as atomic token swaps, bridging tokens to other blockchains, and creating programmatic rules involving digital assets.
The founder of SORA, Makoto Takemiya, is the creator of the Proof-of-Importance algorithm used in NEM. He started his work on the SORA project back in August 2017. 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. To create a rational economic model, the team did a survey of various economic theories. Over the course of this time Yokei Yamaguchi, an economist, joined the team in 2018, and he helped with several key parts of the model. On October 17, 2019, the SORA v1 Network launched. However, the technology has improved, giving the possibility to shape a new and more ambitious type of crypto ecosystem. Whereas the medium-term goal remains generating value for our community, analysis of the SORA economy has led to embrace the long-term goal of realizing a supranational world economic system. SORA v2 is a profound and significant upgrade to the SORA Network and the SORA tokenomics.
The SORA network will bridge to Ethereum and Bitcoin to make cross-chain communication with both blockchains possible, while connecting to Polkadot and Kusama. This allows the Ethereum and Bitcoin communities to use SORA to access Polkadot and Kusama via a user friendly bridge. With Polkaswap integration, users can trade any asset on Ethereum and Bitcoin on the Polkadot and Kusama networks and provide real cross-chain swaps.
Makoto Takemiya - Founder
Fair distribution. 350,000 XOR were just put on Uniswap and people bought over time. XOR distribution can be tracked in Etherscan.