- Polkaswap is launching on the SORA network with a 2-way bridge to Ethereum and the ability for anyone to create their own assets, provide liquidity, and trade
- The SORA XOR token is the liquidity token used to provide liquidity with all token pairs
- The community runs SORA network validators and the Polkaswap.io website (via IPFS)
- Initial council members are set up and ready to vote on upgrades
- Community has to deploy bridge
- We are ready to roll!
Polkaswap: The Degentral Bank of Crypto
Polkaswap.io is a new kind of DEX, built natively for the composable DeFi future of Polkadot and Kusama. Cross-chain compatibility is a given and blockchain maximalism is as out-of-date as pleather chaps. In fact, token-maximalism is also dead and instead everyone is welcome to play, as non-native tokens will be automagically converted to pay gas fees for swaps. The XOR token is used to provide liquidity to token pairs, but it exists because of the profound tokenomics of SORA, not because of dogma.
Polkaswap incorporates SORA tokenomics to become a central bank for crypto degens. The protocol automatically injects liquidity into trading via a token bonding curve (TBC) that manages the XOR token with VAL, PSWAP, ETH, and DAI as reserves. What this means is that these markets can access boundless liquidity once the token bonding curve is sufficiently collateralized, making Polkaswap the most coveted place to trade on in the crypto ecosystem. To promote building reserves of the token bonding curve, there are very special rewards for using the token bonding curve with ETH and DAI as an input!
These advanced tokenomics would have been practically impossible to build on Ethereum due to limitations and fees of the EVM. Polkaswap only exists because the underlying SORA Network uses Parity Substrate as the robust and highly performant toolkit to run the blockchain and Polkaswap dApp.
Who are you calling soft?
The launch of Polkaswap today is termed a soft launch, but it does a lot of hard things. Advanced tokenomics, multi-chain tokens, and built on Parity Substrate technology, Polkaswap is an entirely new generation of DEX. Polkaswap also features unparalleled decentralization, with a decentralized Ethereum bridge maintained by off-chain workers of the SORA network, IPFS for hosting the front end, static web app, and the web page itself that communicates directly with the blockchain nodes on the SORA network. All of the technology used is best-in-class and the community of contributors has really done a lot to push humanity forward.
Fearless Wallet, the most amazing wallet for Kusama and Polkadot, will also be updated in the coming months to add Polkaswap support.
The Polkaswap and SORA communities are mainly active on telegram, so please feel free to join and ask any questions you may have and get involved:
About SORA Network, Polkaswap, and Fearless Wallet
SORA is a new economic system aimed at creating a supranational, world economic system with built-in tools for decentralized finance (DeFi). The SORA network implements a new way of parachain architecture on Polkadot and Kusama network, with the capability to bridge external blockchains (like Ethereum) to the Polkadot ecosystem.
One of the DeFi applications that will run on the SORA network is Polkaswap, a non custodial liquidity aggregating, cross chain AMM DEX designed uniquely for the Polkadot ecosystem with boundless liquidity through its one-of-a-kind Aggregate Liquidity Technology (ALT).
Fearless Wallet is a mobile wallet designed for the decentralized future on the Kusama and Polkadot networks, with support for iOS and Android platforms. An awesome user experience, fast performance, and secure storage for your accounts. Fearless wallet will integrate Polkaswap for easy, decentralized swaps of assets.