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What is SORA built on?

The SORA Network (Polkaswap included) is built with Substrate, a framework for creating cryptocurrencies and other decentralized systems, that scales more efficiently than Ethereum. This allows for lower fees.

How can I support SORA in the parachain auctions?

Currently, It is possible to support SORA by bonding KSM in the SORA Network Kusama Parachain Auction, starting in January 2022. The details can be found here.
When the slot on the Kusama Network is secured, users can support the network for the following auctions buying XOR with DOT and KSM from the token bonding curve. By doing so, you'll increase the reserves of the token bonding curve, that will be used to make a bid in the auctions. Furthermore, there is a special reward in PSWAP when buying with DOT and KSM, this reward is higher when there are fewer reserves, and will decrease as they accumulate. You can read the full article about the incentive program here.

What is the SORA Parliament?

SORA Parliament is the governance system for the SORA Network; its main task is to allocate newly minted XOR to productive projects.
It has multiple bodies with clear separation of powers and where the members (Citizens) are chosen randomly. It is built around three main concepts:
  • Isonomia: the principle that everyone who is a citizen has political equality
  • Isegoria: the right of all citizens to speak and contribute
  • Sortition: randomly choosing groups of citizens to make decisions
To compensate citizens for their time, 1% of the funds that are allocatable to projects for productive uses shall be distributed to citizens.
To learn more about the Parliament and the governance bodies, click here

How do I participate in SORA Parliament?

Parliament is expected in late 2021. Though not decided, approximately 150 XOR are likely to be the size for a citizenship bond. This bond can be slashed if the citizen is convicted by a Policy Jury of breaking rules. Through a sortition process, Parliament members will be chosen among citizens
All citizens have equal chance of being selected, have equal voting power, and equal rewards for participation

How do Addresses Work on the SORA Network

If you used SORA Network or Polkaswap you probably have noticed that generally addresses start with 5, but in Sorascan you have to input an address that starts with cn. So how does it work?
The address format used in Substrate-based chains is SS58, and each chain can select its own prefix, generating different addresses. Here's an example:
Polkadot has prefix 0, and a certain derivation function makes it so that all Polkadot addresses start with 1.
SORA has prefix 69, and the work of the same derivation function results in SORA addresses starting with cn.
42 has been chosen as the universal prefix to be used in any Substrate chain. This prefix generates addresses that start with 5, and these addresses are recognized and accepted by all Substrate-based chains. For example on Polkaswap you can connect the general addresses format (starting with 5) or the SORA unique addresses format (starting with cn).
An implication of this mechanism is that using the same seed you can store tokens from different Substrate chains. This is not recommended though, because it decreases security (if your seed is compromised you will lose funds on all of the networks).
You can read more here.

What are the SORA tokens?

In the SORA ecosystem there are XOR and VAL tokens.
You can read details about them here in the Tokenomics.

Who are the biggest XOR Holders?

When looking at the top holders on Subscan, several of those addresses are technical accounts supporting the whole network. Here is a table with the technical accounts holding XOR:

What is a validator?

The validators are nodes which have been selected to produce blocks. Validators are a core part of the SORA Network, because they have to accept or reject blocks of transactions. The election of validators is made using Phragmèn Method, the same used by Polkadot and Kusama. Considering that running a validator node requires effort, it won't go without reward. Those who run validator nodes will receive rewards in the form of VAL tokens, based on the amount of VAL burned in the last day.
To read more about rewards, technical requirements to run a node and more informations about validators in general, have a look here and here.

What is a nominator?

A nominator is a normal user who publishes a list of validator candidates that he trusts, and puts down an amount of XOR at stake to support them with (the concept of staking). As long as a nominator supports validator candidates with good security practices, their staking is low-risk and provides a continuous source of revenue. Nominator rewards are in VAL, and are based on the amount of VAL burned in the day. You can read more about the VAL token and the staking rewards here.
To learn how to stake your XOR and earn rewards, have a look at the dedicated tutorial in the "Tutorials" section of the Wiki.
Last modified 16d ago