SORA Card Phase 1: Everything You Need to Know
Soon you can start the card application and KYC procedure in all security and privacy, and order your SORA Card through Polkaswap.io or SORA Wallet. Here is what you need to know:
TL;DR
Within this article you will find everything you need to get started with SORA Card, specifically, it will cover:
- Details about Phase 1
- The channels and options to apply for SORA Card
- SORA Card fees
- What to expect from Phase 2
How to apply for SORA Card
You will have these channels to apply for SORA Card:
- On the polkaswap.io dApp
- Through the SORA Wallet mobile app (available on Google Play and the Apple App Store)
- for more information see the soracard.com website
*If you just downloaded SORA Wallet, make sure to store your seed phrase safely
And the three options to apply for SORA Card, along with the fees for each option are:
- If you already have more than €100 worth of XOR in your account: the application with your SORA account address is free;
- If you want to purchase XOR to have the €100 balance for a free account, you will be able to buy native XOR worth up to €700 within the app with only soft KYC required (details below);
- If you do not have €100 worth of XOR, and you don’t want to purchase it, there will be a fee of €20 to apply for KYC for SORA Card. This payment can be made with any debit/credit card.
Let’s jump into the details
We heard the community’s feedback and will offer SORA Card for free to all SORA community members with at least €100 worth of XOR on their SORA account, as mentioned. The SORA community will waive monthly card and account fees for the first 5,000 applicants.
To verify that you have at least €100 worth of XOR in your account, your XOR in LP and/or staking, plus your account balance will be tallied together to calculate your total. Our aim is an inclusive card program for all of our community members, hence the friendly access criteria.
Applicants who do not wish to own €100 worth of XOR can simply apply for the card by paying €20 for the first physical card, virtual card, and the KYC application.
We also have great news for people who do not have €100 worth of XOR on their account yet, and would like to purchase it; thanks to the integration of X1 Exchange, you can purchase up to €700 worth of native XOR in your SORA account, only requiring a soft KYC.
Unlike the “regular” KYC that requires state-issued identity documents, to use this option, you will only need to provide your first and last name as per your ID document, your country of residence, and your nationality.
“If the product is free, you are the product.”
Unlike centralized and custodial solutions, SORA Card user data and crypto assets are not accessible to SORA. Since you are not a product to us, there is no other financially sustainable way but to apply usage fees to the card and account. The majority of those fees go to the service partners involved.
In conclusion
We hope this answers some of the questions you may have had about SORA Card and its fees, and that you look forward to more news from SORA Card.
Here is a teaser about what to expect from Phase 2:
- Ready to use physical and virtual card
- XOR <> fiat exchanges
- Referral program
- Apple Pay and Google Pay compatibility
And it doesn’t stop there…
SORA Card | Value Freedom
About SORA, Polkaswap, and Fearless Wallet
SORA is a new economic order for the world, aimed at high growth and empowering human progress. The SORA network includes interoperability with the Polkadot and Kusama networks, as well as the capability to bridge external blockchains (like Ethereum) to the Polkadot ecosystem.
Polkaswap is a DeFi application on the SORA network, it is a non-custodial liquidity aggregating, cross-chain AMM DEX designed uniquely for the Polkadot ecosystem. It offers boundless liquidity through its one-of-a-kind Aggregate Liquidity Technology (ALT).
Fearless Wallet is a bespoke mobile wallet and browser extension designed for the decentralized future on the Polkadot and Kusama ecosystem, with native support for iOS and Android, and Chromium-based browsers: a premium user experience, fast performance, and secure storage for your accounts. Fearless Wallet features Polkaswap for easy, decentralized in-app swaps of assets.
Connect With Us
SORA 𒀭 community:
Twitter | Telegram | Reddit | YouTube | Announcements Channel
Polkaswap 𒊹𒂵𒆜 community:
Twitter | Telegram | Reddit | YouTube | Announcements Channel
Fearless Wallet 𒉡𒉎𒋼 community:
Twitter | Telegram | Element | YouTube | Android App | iOS App
