Explore SORA’s pivotal role in enhancing blockchain interoperability within the Polkadot ecosystem and beyond.
TL;DR
- Since the SORA Kusama and Polkadot parachains became fully operational, the SORA ecosystem has made great strides in the SORA Integrated Plan.
- Polkaswap is designed to be the one-stop shop and main exchange for the Polkadot ecosystem.
- The SORA community is working hard to further expand the reach of XOR throughout Polkadot and beyond.
Twenty-twenty-four began with a bang for the SORA ecosystem when we won the first crowdloan of the year. After rallying great support from the community, the SORA Polkadot parachain was secured. This is a significant milestone, cementing SORA as a part of the Polkadot ecosystem. This means that SORA is not only a solo chain using Polkadot (formerly Substrate) blockchain infrastructure but is now the fiftieth parachain of the Polkadot relay chain. This is a significant endeavour achieved by the entire SORA community.
After the chaos that ensued as part of the work to connect the SORA network to the SORA Kusama parachain, effectively taking most of the first lease to test and implement, parachain renewal was successful, allowing another year-long lease. The community continues to connect to other Kusama parachains, known in the Polkadot space as opening HRMP channels.
SORA in the Polkadot Space
Opening HRMP channels is non-trivial. Each network has its requirements and interests and may not even consider opening a channel to other networks. Among available HRMP channels are the Asset Hubs, networks maintained by Polkadot, which host assets, as the name implies. Connecting to these networks will facilitate access to a more significant subset of network assets (including meme coins like $PINK and $DED), as opposed to the one asset-per-network approach of opening an HRMP channel to allow cross-chain messaging (XCM).
Opening these channels has two benefits to other networks: first, their native network assets can be listed on Polkaswap, and second, they can be bridged over to Ethereum (and back), which opens access to broader and deeper liquidity.
In many cases, these tokens are only accessible through CEXs or were provided as a crowdloan reward when users participated in securing their parachain. Polkaswap’s decentralised nature means token holders can also create their pools and help other users discover and trade these assets. Fostering accessibility and interoperability with style and freedom is an ethos of Polkaswap.
The best market is the one where you can find everything, and advanced features aside (which are already in the pipeline), it is only natural to have a platform within the Polkadot ecosystem, the blockchain of blockchains, where you can find and trade as many network tokens as possible and that platform is Polkaswap.io. After celebrating the success with the entire community, let the record state that Polkaswap is one of two DEXs where you can trade DOT and KSM.
Polkadot and Kusama… In Ethereum Mainnet?
For veterans in the Polkadot space, questions like “Can I add DOT to Metamask™️” or “Can I buy KSM on Uniswap?” were sources of chuckles and contempt. However, to support the Polkadot ecosystem, you can now bridge DOT or KSM from SORA to the Ethereum mainnet. What you decide to do with ERC-20 DOT and KSM once it is on the other side is up to you, but one option could be to add it to liquidity pools in your favourite decentralised exchange and help provide liquidity to the tokens.
Additionally, it will also be easier for Ethereum users to access DOT and KSM to have and to hold. They could also eventually take a step forward and become part of the Polkadot ecosystem using one of the compatible wallets or Dotapps (Polkadot.js) if they’re not Fearless already.
It is also possible to bridge the tokens into SORA through the HASHI Bridge and eventually forward into Polkadot or Kusama where they can stake, hodl or use their assets for something else. Of course, they can also add the DOT and KSM to liquidity pools on Polkaswap.
Always double-check you have the real thing; the Polkadot DOT contract is `0xdf81E9FF9c0a154094E4D196690dA99c49dFeBE2` and the Kusama KSM contract is 0xe3DA3Fed5478741E5275CfFFD07aBf566A54e0D8. Every bit helps to bring exposure and support to the Polkadot ecosystem.
Down the Pipeline
The SORA network is shifting interoperability into the next gear. Delivering the decentralised order book for the advanced traders and onboarding market makers is only the beginning. The Kensetsu token is next in the pipeline, which will soon be available to everyone (including Kensetsu Gold, the troy-ounce pegged Kensetsu stable asset to be rewarded to every Polkadot parachain crowdloan contributor). After that, the bridge construction will allow all roads to lead to SORA through the multi-EVM bridge and more.
The milestone updates for the SORA Integrated Plan and the roadmap that guides all SORA network developments have been published and can be found here. All SORA contributors will continue to work hard to deliver on these milestones.
As a community-led network, you can;
- Contribute new milestones through the RFP program;
- Test and provide your feedback for new features and releases both on the mobile apps and on Polkaswap;
- Spread the word about Polkaswap as the one-stop shop for the Polkadot ecosystem and beyond;
- Invite your friends through the Polkaswap referral program;
- Show your support for the new economic system on your favourite social media.
The future of SORA is in your hands, and your significant progress is proof of it.
Let’s get back to work.
About SORA
SORA is an innovative, adaptive, non-debt-based monetary framework that facilitates economic stability, particularly for financially vulnerable countries. As a groundbreaking platform, SORA exemplifies the potential of blockchain technology in fostering a more inclusive and stable global financial system. Its integration in projects like the Bokolo Cash CBDC signifies a new era in digital currency, aligning technological advancements to achieve broader economic stability and resilience. Through its unique approach and capabilities, SORA plays a pivotal role in the evolution of global finance, particularly by supporting economies that need innovative and sustainable financial solutions the most.
