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Tokenomics

In the SORA ecosystem there are XOR and VAL tokens.
XOR (天):
  • Network utility token used for transaction fees (gas)
  • 50% of the fee is burnt the other 50% for validators
  • Elastic supply, managed by a token bonding curve
  • Enables holders of a certain amount to become a citizen and a member of the SORA Parliament
  • Used to add liquidity to pairs on Polkaswap
  • Used to stake to become a validator or to nominate validators on the SORA network
  • More about SORA tokenomics
XOR token supply
  • XOR supply was capped at 350,000 XOR until SORA v2 network launch. SORA v2 network was launched on April 2021
  • XOR supply is 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 is regulated by the bonding curve, so no extreme fluctuations in the price will be exhibited, but rather a smooth growth or decline
XOR distribution
  • Fair distribution. 350,000 XOR were just put on Uniswap and then people bought over time. XOR distribution can be tracked on Etherscan and on Sorascan
Top 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:
Additional addresses have been added corresponding to Polkaswap reward accounts. This list will be receiving ongoing updates to ensure accuracy.
Address
Role
Smart contract of the Ethereum bridge
XOR-PSWAP pool
XOR-VAL pool
XOR-DAI pool
XOR-ETH pool
cnTQ1kbv7PBNNQrEb1tZpmK7easBTbiFMQUUwfLf9LX66ND8u
TBC Rewards
cnTQ1kbv7PBNNQrEb1tZpmK7fJT4Awahg1d8aoYoGGv2ATz7m
Market Maker Rewards
cnTQ1kbv7PBNNQrEb1tZpmK7kr72qNfcUDvqPxUdw4h2A5axX
Farming Rewards
cnTQ1kbv7PBNNQrEb1tZpmK7iW5aLF24hi1k1H4t3L49TzhPe
Pre-Launch PSWAP and VAL Reserve Account
cnTQ1kbv7PBNNQrEb1tZpmK7ftiv4yCCpUQy1J2y7Y54Taiaw
PSWAP Distribution for Liquidity Providers
VAL (≚):
  • Used to reward validators on the SORA Network
  • Decreasing supply over time, with tokens burned at every SORA v2 network transaction
  • Elastic rewards to validators and stake nominators are given in VAL, as a percentage of the daily burned VAL
  • Holders receive a part of the XOR created by the token bonding curve to provide liquidity on Polkaswap. VAL holders can group together into DAOs to pool their liquidity and vote to provide liquidity to trading pairs on Polkaswap and receive PSWAP tokens as a reward
VAL token supply
  • 100 million initial total supply and decreasing with tokens burned
  • VAL is a free-floating token where the price is decided by the market
  • Current VAL circulating supply can be checked here
VAL token will distributed to 3 groups approximately equally, in 3 stages:
  • Former v1 XOR holders (within Q4 2020)
  • ERC-20 XOR holders as an airdrop (vested over time)
  • The upcoming SORA Parliament