Sora claims to be the world’s first Decentralized Autonomous Economy (DAE) where everyone participates in creating a just world by delivering financial inclusion for all without any discrimination and providing a better method to manage day-to-day finances.
Today we will take a closer look at the SORA ecosystem to understand its functioning, what the project aims to achieve, and how far it has come about it. We will also explore the XOR token that powers the blockchain network, and forecast its future price prospects, before concluding by determining whether it is a good cryptocurrency investment in the long run.
So, let us get started.
What is Sora?
Sora is an Ethereum-based decentralized autonomous economy that envisions building a new economic world order that is truly decentralized and democratic and can deliver financial inclusion for all while providing a better way to manage daily finances.
The project is focused on empowering projects that benefit society by delivering new goods and services.
Webbing together the Sora ecosystem is the XOR token, which is used to transact on the platform. XOR can be used to pay for goods and services created on the protocol.
Now let’s look at how the Sora ecosystem works.
How Does Sora Work?
Sora works on a consensus mechanism that is based on the General Quantity Theory of macroeconomics. As per the economic theory, a currency’s supply can be inflated in three ways:
Inflating a currency for consumption or speculation leads to price increases and boom or bust economic cycles. Creating money for production can create economic growth at a predictable rate. This helps advance human and technological development.
The tokenomics of the Sora network relies on a mechanism called the Token Bonding Curve that helps mitigate boom-bust valuations of most cryptocurrencies while managing the challenges of not having an elastic supply of capital.
What is the XOR Token?
XOR is the native utility and governance token of Sora’s inclusive global economic network. The ERC-20 cryptocurrency has its supply and primary market managed by a computer program that runs on the Ethereum blockchain.
XOR is not controlled by any country, company, or individual.
Unlike other cryptocurrencies, even governments can make proposals to fund productive investments via XOR allocated from a fund, or from minting TBDC – a token that can be converted to XOR on the open market.
Rather than acting as a foreign currency that is outside the control of democratic governments, it can be integrated into the domestic economy in whichever jurisdiction it is used for funding GDP growth.
Furthermore, XOR is not a debt-based currency, which is why it is capable of realizing egalitarian social outcomes. This makes the case for the token being able to be used as a legal tender across the world for discharging debts, purchasing goods and services, and paying taxes.
XOR Price Prediction: 2024, 2025, and 2030
At the time of writing, Sora (XOR) is trading at $0.000306 – up 42.6% in the last 24 hours.
Based on its current valuation, XOR is expected to trade between a minimum rate of $0.000365 and a maximum price of $0.000428 in 2024. The average trading price of XOR during the year will be $0.000375.
In 2025, the price of Sora is predicted to reach a minimum level of $0.000541 and a maximum level of $0.000638. The XOR token will have an average trading price of $0.000556.
Sora is forecast to trade between a minimum price range of $0.0032 and a maximum rate of $0.0039 in 2030. The average expected trading price for XOR during that year will be $0.0034.
| Year | Average price |
|---|---|
| 2024 | $0.000375 |
| 2025 | $0.000556 |
| 2030 | $0.0034 |
How To Buy Sora (XOR) Token?
It should be noted that XOR can only be purchased from the decentralized exchanges (DEX) Uniswap V2 (Ethereum) and Polkaswap and in the following token pairs:
Is Sora A Good Crypto Investment?
Sora is presumably the world’s first decentralized autonomous economic system that aims to deliver financial inclusion for the global population by providing a better method to manage day-to-day finances.
The Ethereum-based network’s on-chain governance system is based on the XOR token, which allows the platform’s participants to make funding proposals and all the token holders to make decisions regarding how to allocate the token to create goods and services.
All things considered, I can say that Sora is an innovative decentralized finance (DeFi) ecosystem that seeks to democratize finance for the world population. Although the project has a sturdy economic and tokenomics model, it needs to be seen how it will perform in the long run.
As is the case with all cryptocurrencies, it is vital to do your research before investing in them. Another important point to note is that you do not invest money that you can’t afford to lose when it comes to crypto assets.
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