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
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
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
- 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
- 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 (vested over time)
- The upcoming SORA Parliament
Last modified 2mo ago