What is Sora? Sora (XOR) is a Blockchain project that aims to create a new economic system for the Metaverse and the real world. cryptocoin.com In this article, we have answered the questions asked by investors such as what Sora is, what it offers, what is XOR, what is it for, how to get it. Let’s examine together this project, which defines itself as the “economic order of the new world”.
What is Sora?
Sora is a management system powered by Blockchain technology and based on XOR coin. This system allows producers to make proposals for financing. It also decentralizes them to create the best goods and services. On this note, the project is one of the emerging ecosystems to support economic growth. However, Sora stands out from the rest in that it also covers the producers and the Metaverse space. The platform also supports a number of features of decentralized finance (DeFi). Thus, it aims to decentralize the traditional concept of the central bank.
What does Sora offer?
Accordingly, the project has various features such as atomic token swaps, bridging tokens to other Blockchain networks, and creating programmatic rules involving digital assets. It also provides tools for the creation of decentralized applications focused on these issues. It uses the parachain technology of Polkadot and Kusama Blockchain for this. This technology allows the network to interoperate with other networks.
Sora’s substrate network bridges Ethereum and Bitcoin while connecting to Polkadot and Kusama. This allows the Ethereum and Bitcoin communities to use SORA to access Polkadot and Kusama via a user-friendly bridge. This usage includes many DeFi features, including asset trading. However, the ecosystem financially supports productive real-world and Metaverse projects. It does this through a cryptocurrency called XOR.
What is XOR? What does it do?
XOR is a cryptocurrency based on the Sora and Ethereum networks. As Sora’s native utility token, this asset provides manufacturers and users within the ecosystem with access to a range of features. Accordingly, XOR, payments etc. can be spent for other purposes. The main use cases of altcoin are as follows:
- It is used to pay gas fees on the XOR substrate network.
- It has a flexible supply governed by the token binding curve.
- Those who have a certain amount of XOR can become citizens and members of the Sora Parliament. This is required so that users can participate in the administration of the platform.
- It is used in Polkaswap to add liquidity to trading pairs.
- It is also available for XOR coin staking. Accordingly, users can earn passive income by staking their tokens.
What is Sora? How to get XOR?
It is listed on Sora (XOR), Gate.io and Uniswap exchanges. Investors interested in cryptocurrency should first become a member of one of the exchanges. They are then required to deposit an asset on the exchange according to the pair in which the XOR is listed. Thus, they can buy crypto money by placing a purchase order on the relevant parity.
