SORA development status updates are released every two weeks with development updates from across the community. Enjoy the October 4, 2023, Ecosystem updates!
SORA Integrated Plan
You Are Here
Many worlds, one economy.
The SORA Summer (ソラの夏) has come to an end as countries in the northern hemisphere transition into autumn. However, the work of building and improving the SORA network continues tirelessly. Despite the tremendous effort invested in creating a resilient, innovative, open-source, decentralized, and inclusive network, it is essential not to forget the reason behind it all.
Speaking specifically about SORA, blockchain technology can be utilized to create more inclusive and beneficial economies for the people within them. For years, conflicts in regions where the global West provides oppressive loans in an attempt to bridge the economic gap between the richest and poorest countries have only exacerbated the problem. This reliance on aid has hindered economic development, fostered corruption, and worsened the overall human condition. The concept of “teach a man to fish” goes beyond the idea of a single meal versus self-sufficiency. Blockchain technology, aimed at advancing humanity, supports the development of an economy that can uplift a region from extreme poverty by providing tools for financial inclusion, transparency, and accountability.
Unlike the prevailing belief that the mass adoption of blockchain-based financial infrastructure would be led by “powerful” economies, the reality is that the pioneers in this implementation are the ones who have been left behind. With very little to lose and much to gain, these countries have a brighter prospect for innovation. These visionary countries recognize the problems in the system and are willing to adapt and evolve.
Previously, we mentioned an economy with a CBDC POC that would use the SORA network. While the official announcement will come later, it is a country located in a region that greatly needs technology to increase financial inclusion. Alongside internal development and production, economies like the one we are working with aim to reduce reliance on the US Dollar and benefit from empowering technologies, such as those developed by the SORA community.
In other news, the release of the SORA Substrate bridge is imminent. KSM should be available on Polkaswap in the coming weeks. Once the SORA Polkadot parachain is secured, implementation for the SORA Kusama parachain will be much faster. The ongoing 51st Polkadot parachain auction, which started on September 30th, sees SORA competing against another anonymous parachain project. Ideally, with the SORA Polkadot parachain, the Polkadot network will also power a CBDC through SORA, providing a very substantial use case for the still-nascent Polkadot ecosystem. Participate in the SORA Polkadot parachain crowdloan using your favourite Substrate-supported wallet, Bifrost V-crowdloan, or the Polkadot JS interface. Every DOT is worth 0.1337 gr of Synthetic gold.
Moving on to the SORA Synthetic (XST) platform developments, a successful blockchain upgrade was released last week to implement pooling for XST-based assets with XOR and XSTUSD. This allows users who do not wish to burn XST to access SORA synthetic assets while also providing IL-resistant pools for those wanting to utilize their XST-based assets.
The Order book is progressing smoothly, with development completed and the release in the pipeline. The SORA Summer has seen the development of many technologies, so stay tuned for upcoming public testing! Following these releases, the multi-EVM bridge, Kensetsu implementation, and support for Ink! smart contracts are next in line. The summer may be over, but SORA has much more to come.
Returning to the initial topic, the production that fosters internal growth is necessary for an economy to improve. Handouts and aid exacerbate issues rather than resolve them. By implementing technologies that promote financial inclusion, growth can be achieved through hard work and productivity. Progress does not come easily, but through hard work, involvement in decision-making, and long-term vision, both at an individual and collective level, we can find solutions to the world’s problems. The SORA community remains committed to improving humanity in this world and beyond.
Let’s get back to work!
Please stay tuned for further updates from the SORA ecosystem, not only for the entire Dotsama community but also for the blockchain space, in what we affectionately refer to as the SORA Summer (ソラの夏).
You are now up to date with the recent happenings in the SORA ecosystem and the current status of the SORA Integrated Plan. Stay tuned for upcoming news from all the SORA contributors, and we’ll meet again in two weeks. Now, 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%
This fortnight, there were developments in SORA Card that focused on improving the onboarding experience and preparing for the Phase 2 release. Please refer to the SORA Mobile — SORA Card updates section for more information.
Read the transcript of the recent SORA Card launch AMA in the SORA Telegram chat! For more information about SORA Card, take a look at these articles: Introduction of SORA Card, key features of SORA Card, a comparison between SORA Card and other crypto-powered banking services, an interview with the people behind the SORA Card tech and management, and a recent article on SORA Card Phase One, as well as the SORA Card AMA Recap.
SORA Card | Value Freedom
⚙️ SORA Blockchain Update
Release 2.1.0 — Pool SORA Synthetics:
- Liquidity provisioning with synthetic assets in XOR- and XSTUSD-based pools has been enabled.
The XOR fee structure was revised to allow an update to the fee for claiming validators’ staking rewards.
- An update would’ve resulted in higher fees with the recent fee increase. Therefore, we decided to delay this to a further release.
- The trend is that the validators staking rewards claiming fees should cost the equivalent of 10 regular transactions. The community will be able to vote on the change on polkadot.js once the Council reaches an agreement and it is updated in the runtime upgrade.
Swapless batch transfer for ADAR, to enable transferring assets from existing asset balances.
Collaborating with other teams for a proof of concept for a CBDC:
- Implementing XORless transfers to enable paying transaction fees without holding XOR. In the background, the asset will just be swapped to XOR, and fees will still be paid in XOR because XOR is the gas on the SORA network.
Progress on the tasks for the milestones available on the Github Milestones section.
Substrate bridge (Github milestone)
- The security audit has been completed.
- We implemented the governance bodies and mechanisms on the parachain (Council, Technical Committee). They will be released in coordination for the release of the Substrate bridge.
Order book (Github milestone)
- The implementation of the order book is 95% complete and ready for testing by our Quality Assurance team.
- Due to environment management (development, private test, public test, production), we are waiting for the Substrate bridge to be released on production to release the Order book for public testing.
- We needed to rework the Aggregate Liquidity Technology (ALT) to enable the Order book liquidity source. ALT enables the combination of different liquidity sources (TBC, XYK, XST, Order book) to get optimal liquidity on each trade and maximise the token output provided.
- A runtime upgrade will be dedicated to the ALT before releasing the Order book to production.
- We strive to release the Order book feature for public testing without ALT support to enable traders to try out the platform as soon as possible and provide us feedback before the production release!
Multi-EVM bridge (Github milestone)
- Focus has been on the Substrate bridge, Order book and PoC for a CBDC.
- We plan to finalise the Multi-EVM bridge once we release the Substrate bridge and complete the Order book.
Kensetsu (Github milestone)
- We have gathered all the technical requirements for the implementation.
- The team has been focused on other initiatives.
- We intend to implement this when we release the Substrate bridge and Order book.
Support for Ink! smart contracts (Github milestone)
- We have gathered all the technical requirements and created the implementation tasks.
- The level of effort to complete the implementation is reasonable, the team needs to complete the ongoing initiatives before starting the implementation.
📱 SORA Wallet Updates
SORA Wallet
The team has been working on the next release: 3.4.0 — Explore SORA Ecosystem:
- Display all the tokens and liquidity pools available in the SORA ecosystem
- Display the asset fiat price trend
- Personalise your wallet by toggling the cards on or off (assets, pools, SORA Card)
- Enabling providing liquidity with synthetic assets
- Night mode
- Support of new languages, including Arabic and Hebrew!
- Various fixes and improvements based on the community feedback!
SORA Card
The 2nd release for SORA Card: 2.0.0 — Basis for Phase 2 is live and includes:
- Backbone for the SORA Card hub, the space dedicated to SORA Card in the SORA Wallet
- Improvements based on the feedback from the community
The team has been working on the next release: 2.1.0 — SORA Card Hub:
- Display your SORA Card balance
- Fixes and improvements based on the community feedback and updates from partners
Preparing for the SDK updates from partners. The updates should bring optimizations and quality of life features and enable app size reduction.
Collaboration with Fearless Wallet for SORA Card integration
👷🏽♀️ SORA Builders Programme News
ADAR Updates
The team is currently working on Release 1.0.7, which will include the following:
- Updates to History/Activity List while swapping on ADAR
- Continued development for RWA (Real World Assets)
- Working on a mini dashboard which can be viewed on ADAR
- Bug fixes
- Performance improvements
Outside of the next release’s work, the team continues working on EVM bridges that are approximately 70% complete.
Find out how the ADAR app works here.
Do you like the ADAR app? Do you have any suggestions for improvements or new features? Please complete this survey and let us know what you think about ADAR!
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.
Ceres Updates
- The Favorites filter has been added on the Ceres Tools website as well. Until now, it only existed in mobile applications.
- A user’s favourite tokens from the Tokens page are shown in the Charts section at the top of the list.
- 1D (1 day) period has been added to Charts.
- Synthetic assets have been added to the Ceres Tools website and mobile apps. There is also a filter for Synthetics on the Tokens page.
- Synthetic assets pairs have been added to the Ceres Tools website and mobile apps. There is also a Synthetics filter on the Pairs page, which can be combined with other filters.
- The VAL Burning Tracker is upgraded, so it tracks TBC burns as well. Until now, it was only showing VAL burns through fees. Historical data for TBC VAL burning is going to be added soon.
- A new feature is going to be released soon. It will be called Swaps. Users can track buys and sells for every token on the Ceres Tools website and apps. 👌 We think this feature will reach the popularity of the Portfolio feature. 🚀
- Something about Apollo is being cooked!
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:
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 cryptoeconomic values to anyone willing to lend an ear, we are looking for you!
If you missed the previous ones: September 18 / August 31 / August 18 / July 28 / June 16 / May 31 / May 15 / April 21 / April 10 / March 23 / February 27 /February 9 / January 23 / older Ecosystem Updates are archived here and Dev Updates are archived here.
