Sora is a decentralized autonomous economy (DAE) built on the Polkadot network, aimed at revolutionizing traditional economic models through blockchain technology. Here are the key points about Sora:
- XOR – The Native Token: Sora’s native token, XOR, is used for transaction fees, governance, and DeFi applications within the ecosystem. Its supply dynamically adjusts to network demand, supporting economic stability and growth.
- Decentralized Autonomous Economy: Sora pioneers a community-driven economic model where economic rules are embedded into the blockchain, promoting transparency, inclusivity, and direct user participation in governance.
- Sora Decentralized Exchange (DEX): Features a built-in DEX for secure and efficient trading across various cryptocurrencies and assets, leveraging Polkadot’s interoperability for cross-chain exchanges.
- Polkaswap Integration: Sora is integrated with Polkaswap, a cross-chain liquidity aggregator on the Sora network, enhancing access to liquidity and trading options within and beyond the Polkadot ecosystem.
- Val Token: VAL is a new token used to reward SORA network validators that secure the network, created by community governance.
Sora’s vision is to create a new, decentralized economic paradigm that empowers communities by distributing economic power and decision-making more equitably. Despite facing challenges such as achieving widespread adoption and ensuring network security, Sora’s innovative approach to economic governance and its integration with DeFi applications positions it as a potential leader in reshaping the future of finance.