Tokenomics
XOR (天):
Used for transaction fees (gas) on the SORA Network
Elastic supply, managed by a token bonding curve
Enables holders of a certain amount to become a citizen and 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
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 will be regulated by the bonding curve, so no extreme fluctuations in the price will be exhibited, but a smooth growth or decline.
XOR distribution
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
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 (at the SORA v2 network launch on April 2021 and after vested)
the upcoming SORA Parliament (after the SORA Parliament is implemented, 2021-2022)
