SORA development status updates are released every two weeks with development updates from across the community. Enjoy the August 18, 2023, Ecosystem updates!
SORA Integrated Plan
You Are Here — SORA Summer Edition
Many worlds, one economy.
The SORA Summer (ソラの夏) is warming up, as we are at a crucial defining point for the entire ecosystem. With the multiple bridges to SORA in an advanced testing phase, SORA Card having started signups, and the XST platform soon being available, the SORA community now focuses on the SORA Polkadot crowdloan. Welcome to the SORA Summer. Here’s what you can expect:
A Message From the SORA Technical Contributors
We want to thank you all for your ongoing support and the SORA Community, who diligently compile these updates for you every two weeks.
This is an extraordinary time for the SORA network, as much of the work we have been doing to ensure the SORA Integrated Plan progresses has reached a significant milestone. We have begun the Polkadot Parachain Crowdloan, and with your support, we hope to open the floodgates to multiple networks.
Before we continue with some information about the Polkadot Parachain crowdloan campaign, there are some clarifications to address. First and foremost is the SORA community’s commitment to decentralization and open-source software. As SORA is an economic system for the benefit of all humanity, its technology is available for all developers, individuals, teams and companies to access and harness to build applications on SORA that will bring more value to the network and more users and use cases.
SORA Community Summary
SORA is entirely community-run. There are no VCs that would influence the direction taken for network development. Instead, all XOR token holders decide through on-chain voting how the network should evolve and what actions to take.
The SORA community aims to support the creation of new goods and services to improve society and humanity as a whole, providing opportunities to those left on the fringes of the legacy monetary system. Opportunity and support are not the same as profit, and people keen on participating in SORA should be aware from the get-go that SORA’s crypto economics are more in line with the way real economies work and less like speculative crypto assets. The supply of XOR is elastic, not fixed, and the long-term successes are collective, not individual, unlike the crypto status quo. SORA is perpetually moving forward and aiming to create a new world economic order.
We Are All SORA 天
The community’s voice is vital in network development, and the RFP system is constantly improving. Shortly after the release of the XST platform, the spotlight will return to the developer community. The RFP system is already hosted on GitHub and easily accessible through this template. Work is ongoing to implement the SORA Kensetsu RFP, a Maker DAO overcollateralised token for the SORA ecosystem, and the GrillChat RFP, an exciting initiative by the Subsocial team that adds native Web3 social media experiences to Substrate projects.
A lot of work has gone into revamping the SORA Wiki. All the documentation will be based on GitHub as well, which will allow for more community contributions in the form of pull requests to edit the content, as well as a section with a focus on developers, with more network infrastructure documentation being added so that interested developers can build (not emulate) on the SORA network. Look at the repo here. Let us know what other information would be good to add, or better yet, support the wiki and add a pull request with improvements you may have to the content and become a contributor. This is being implemented to improve the user and developer experience on SORA.
The SORA Accounting repo tracks and documents all of the network’s costs. The network belongs to the community, and complete transparency is paramount.
Colossal undertakings do not scare SORA, and we are more than ready to face all the challenges as they come with your support. If you have been following this section, you will now see that we are at a significant stage. The bridges are ready, the technology is locked and loaded, and we need your support for the next frontier…
Putting the Polka in Polkaswap
The SORA Polkadot Parachain crowdloan campaign is underway. Here are the essential details that everyone has been waiting on the edge of their seat for…. The crowdloan campaign began on the 11th of August, a day ahead of the 47th parachain auction. The SORA Polkadot crowdloan will run until a lease is obtained, with five parachain auctions scheduled between now and the 18th of October.
SORA is not running unrivalled, as the teams at InvArch and Astar have also put in their bids. Following the crowdloans closely, the average needed to secure a parachain is 150 000 DOT. The SORA governance has therefore approved a contribution roof of 333 333 DOT, and, for the vital part, the reward per DOT will be 0.0043 XSTXAU, equivalent to 0.1337 grams of gold that will be vested for the duration of the SORA Polkadot parachain lease.
It was a literal statement when we mentioned the SORA Polkadot Parachain auction would be golden. 0.1337 grams of SORA Synthetic Gold will be awarded for each DOT contributed. The synthetic gold rewards will be vested for the duration of the parachain lease.
Following other crowdloans closely, there has been no parachain auction rewarding real-world asset (RWA) or their synthetic counterparts as far as parachain history goes. For those who want liquidity for their locked DOT, we are collaborating with Bifrost to provide liquid crowdloan contributions. Otherwise, you can use your favourite Substrate network wallet, such as Fearless Wallet, to contribute, as well as through the Polkadot.JS interface.
While the crowdloan is ongoing, development work on the Orderbook feature is still progressing, with a UI being built and public testing coming soon. The SORA Kusama Parachain bridge is undergoing an audit, with public testing still ongoing, that, with your support, will also be the SORA Polkadot Parachain bridge. The trustless EVM bridge release is also close to completion, adding a gateway to popular EVM-based chains that the community has been requesting, so stay tuned!
The XST platform is almost ready for release. All the moving parts are in place, so please try the SORA synthetics platform and look forward to the upcoming referendum to implement the platform and the ones to whitelist the first batch of synthetic assets available. Between cryptocurrencies, fiat assets, and RWA’s, SORA Synthetics will pave the way for widespread algorithmic asset availability in the Polkadot and Kusama ecosystems, having learnt from our precursors’ big and expensive mistakes.
Once the SORA Polkadot Parachain is secured, liquidity providers across the network can also pool their favourite tokens from the Substrate space. This will allow Polkswap to have DOT; moreover, the DeFi platform will become Substrate’s center of liquidity.
Polkaswap will be the one-stop shop allowing users to access any token in the network in a fully self-custodial way. This vision is supported by the Polkaswap-as-a-Service initiative, where projects are invited and incentivized to list their tokens on Polkaswap for the benefit of the community.
Stay tuned for more information on SORA Card, and hurry to sign up for special perks and insights. Value your freedom with SORA Card and have all your finances in one place, wherever you go.
All of this and more is in store in the SORA Summer (ソラの夏), so please stay tuned for more announcements. The SORAmbassador team and the SORA community are happy to answer any of your questions on the SORA Telegram community. We are delighted to converse with other project teams or opinion leaders, such as AMAs or fireside chats. Thank you very much for your attention, and we sincerely hope you look forward to the great things to come.
Keep your eyes peeled for more developments from the SORA ecosystem for the entire Dotsama, and why not, blockchain space in what we like to call SORA Summer (ソラの夏).
You are now up to date with what has happened in the last few weeks in the SORA ecosystem and the current state of the SORA Integrated Plan. Please stay tuned for upcoming news from all the SORA contributors, and we’ll see you again in two weeks. Let’s get back to work!
*This is not financial advice. Always make sure to do your own research!
You can find the summary of the integrated plan points in the SORA Wiki.
Business Track Progress
- Polkaswap-as-a-Service — 80%
- SORA Card — 98.5%
SORA Card | Value Freedom
⚙️ SORA Blockchain Update
- Reaching out to other parachain teams to open HRMP channels with them.
Substrate and EVM bridges
- Supporting the security audit team to ensure the bridges are ready to go into production.
- Following up on the feedback from the security audit team.
- Supporting the Polkaswap team to implement the UI for the bridge.
XST Platform (Github Milestone)
- Implemented a fallback mechanism to anticipate any outage for an Oracle data feed and prevent price manipulation.
- Final synchronisation with our Oracle chain partners to prepare for the production release.
Order books (Github Milestone)
- Implemented order support for divisible assets.
- Further optimisations for the Order book implementation.
- Preparing the benchmark process to stress test the implementation with different parameters to assess its impact on the performance of the blockchain system and define a compelling set of parameters (e.g. total number of open orders, total duration).
📱 SORA Wallet Updates
🚀 Android + 🍏 iOS
- Finalised and released 3.1.0 — SORA Card: Phase 1
- Finalising the implementation of the upcoming release: 3.2.0 — UX Improvements
- Following up on the release of 3.1.0 to production and on the feedback to establish and prioritise improvements to be implemented
- Started the implementation of 3.3.0 — SORA Card: Consolidation & Basis for Phase 2
- Implementing the release 3.4.0 — Explore SORA Ecosystem
👷🏽♀️ SORA Builders Programme News
The ADAR app was recently launched! Read all about it in this interesting article
Find out how the ADAR app works here
Release 1.0.4 & 1.0.5 are live!
In these releases, see the following updates:
- Mobile Optimization
- Price Tolerance Slippage feature
- Address book feature
- Google Authorization Feature
- UI Improvements
- Bug Fixes
For frequent updates from the ADAR team, join their Telegram group!
Here is the proposal submitted by ADAR; for more information on the Abed Group, take a look at this deck, and to try the version available from the completion of the first milestone, you can visit the ADAR website.
- The July Burning Event on the Demeter farming platform was quite a success, with 106k DEO burnt, the equivalent of $7000!
For constant updates from Ceres, subscribe to the Ceres Announcements channel on Telegram
The Demeter Farming platform is available on the SORA network for users to farm with liquidity pool LP or single-sided staking with interesting APR*. New pools are constantly added, too. Demeter farming is directly integrated into Polkaswap for convenience. For more information, read this Medium article on the Demeter platform.
*Not financial advice, always do your own research.
🐈⬛ SORA Request for Proposal Updates:
- SORA community member Satoshi Shibarimoto has proposed a Maker DAO analogue called SORA Kensetsu, which has drawn plenty of enthusiasm from the community. Read about the proposal here
- The RFP to integrate Subsocial’s Grillchat is in the review process. Take a look at the proposal and join the conversation here.
- Submit your development or SORA network improvement proposal here.
Join the Decentralized Development channel on the SORA World Discord.
Thank you for making it all the way here. Your interest is much appreciated. If you are a passionate community member who evangelizes SORA and its supranational crypto economic values to anyone willing to lend an ear, we are looking for you!