As announced in an article, SORA will airdrop $VAL tokens for XOR ERC-20 token holders in Q1 2021, in order to support the SORA long term community. The snapshot date is not yet announced.

Details on the $VAL Airdrop

  • Around the launch of the SORA 2.0 main net, there will be a snapshot of ERC-20 XOR holdings and ERC-20 holders who have control over their private keys will be able to claim $VAL tokens on the SORA 2.0 network.

  • 94.57142857142857 $VAL will be airdropped per XOR to ERC-20 XOR holders, during the first year of the SORA v2 network.

  • The expected launch of SORA 2.0-Mainnet between December 2020 and February 2021.

  • Approximately 1/3 of the VAL token supply will be airdropped to the XOR ERC-20 token holders. That are 33,100,000 $VAL tokens.

  • 10 VAL distributed per each XOR at the launch of the SORA v2 main net.

  • 0.23170254403131116 $VAL vested per day to each XOR over the first 365 days of the SORA 2.0 main net operation.

$VAL token in a nut shall

  • $VAL tokens are used to reward validators, as well as nominators to nominate the validators with their XOR.

  • The total supply of VAL will start at 100 million and go down over time, because VAL will be burned with every transaction on the SORA v2 network.<

  • VAL token holders can group together in DAO structures and vote to allocate liquidity on Polkaswap; the liquidity they allocate comes from half the margin in the SORA token bonding curve.

  • In addition to the buy back and burn of VAL tokens, VAL token holders will also be rewarded with PSWAP tokens for providing liquidity on Polkaswap.

  • Read more about $VAL here:https://medium.com/sora-xor/sora-validator-rewards-419320e22df8

About SORA NEO, Polkaswap, and Fearless

SORA NEO (New Economic Order) is a new economic system aimed at creating a supranational, decentralized central bank (DCB) 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 Polkadot ecosystem. One of the DeFi applications that will run on the SORA network is Polkaswap, a non custodial liquidity aggregator cross chain AMM DEX designed uniquely for the Polkadot ecosystem with boundless liquidity through one of a kind Aggregate Liquidity Technology (ALT) with the security and convenience of a DEX.

Fearless Wallet is a mobile wallet designed for the decentralized future on the Kusama network, with support for iOS and Android platforms. An awesome user experience, fast performance, and secure storage for your accounts. The Fearless wallet will integrate Polkaswap for easy, decentralized swaps of assets.

SORA NEO is a new economic system aimed at creating a supranational, decentralized central bank (DCB) with built-in tools for decentralized finance (DeFi). SORA will be a parachain on Polkadot and Kusama network, with... Learn More

0 comments