SORA x Curio AMA

On Friday, the 16th of February, an AMA with Makoto Takemiya, Beno Van Gansen, and Rey Fernando Fuentes Verbonnen from the CurioDAO was held on the SORA Telegram chat covering RWA tokenization, the upcoming Polkaswap Order Book and SORA Card.

Published in

SORA

14 min readFeb 20, 2024

The SORA community was treated to an interesting AMA where details regarding RWA tokenization, unlocking liquidity through AMM DEX, Polkaswap order book, and connecting to TradFi with SORA Card were covered. Here is a transcript of the AMA in the SORA Telegram community.

The questions have been edited for clarity.

William: Hello, Dear community!

Welcome to the SORA x Curio AMA! Beno, Fernando Verboonen, and Dr. Makoto Takemiya are joining us today.

As the SORA community will be voting to add $CGT (Curio Governance Token) to the HASHI bridge and list the asset on Polkaswap.io, it is a great opportunity for everyone to get to know the project to make an informed choice.

It is also good to know that the CurioDAO will provide liquidity to get the trading started once the token has been whitelisted. On the other hand, there will also be a proposal to add $XOR liquidity to a XOR/USDC pool on Capital DEX on Curio Chain!

First, we will answer the pre-submitted questions from the community, and then have a short live Q&A.

Our beloved guests prepared opening statements. Let’s dive in.

Fernando: As one of the contributors and co-founders of CurioDAO, I warmly welcome you to our Ask Me Anything (AMA) session, where transparency meets curiosity. Let’s delve into the world of real-world asset tokenization together, unlocking new possibilities and shaping the future of finance. Your questions fuel our journey towards innovation and value creation. Thank you for joining us on this exciting adventure!
Makoto: Hi, it’s great to be here today!

Let’s start by getting to know you:

Although we have some guests who need no introduction, can share an intro for those who don’t know you in the community?

Beno: My name is Beno, director of SORA Biome, delivering SORA Card to the world, and driving community initiatives for Polkaswap and SORA through Polka Biome, including listing and partnerships. I have a background in Law and Technology services.
I had been a rather passive crypto investor with ups and downs since 2014, until I heard and read about SORA in the summer of 2020. For the first time I felt the real drive to contribute actively to a blockchain/crypto related project. I started my journey as a SORA ambassador and translator for the SORA applications, all the way to releasing SORA Card very soon. We are just getting started really, I am very excited about the road ahead of us.

Fernando: My name is Fernando Verboonen, and my journey began with Siemens Venture Capital, navigating the intricate landscape of investment deals. Transitioning into the startup scene, I witnessed firsthand the dynamic nature of entrepreneurship, culminating in the acquisition of a startup I worked for by Qualcomm in 2014.
However, it was my foray into the world of digital assets that truly ignited my passion for innovation. Learning from the infamous Mt. Gox incident, a bitter experience, I internalized the crucial lesson: ‘Not your keys, not your coins.’ Delving deeper into the realm of cryptocurrency, I explored various case studies, including governance-related utilities. This exploration led me to Oxford University, where a specialization Blockchain course in 2018 served as a catalyst, connecting numerous dots and solidifying my belief in the transformative potential of crypto.
At Curio, we embarked on a groundbreaking journey, pioneering the tokenization of real-world assets. Our crowning achievement came with the tokenization of a bond, marking a significant milestone in the evolution of RWA infrastructure. Recognized by industry giants like UBS and featured in Binance Research, Curio stands at the forefront of innovation, blazing trails with solutions that bridge the worlds of centralized and decentralized finance.
Our mission is clear: to unlock liquidity for real assets in a compliant and sustainable manner. As we continue down the rabbit hole of innovation, I invite you to join us on this exhilarating journey. Your questions and insights are invaluable as we chart a course towards a future where the boundaries between traditional and digital finance blur, unlocking untold opportunities along the way.”

Makoto: My name is Makoto Takemiya and I got into blockchain in 2013, starting with Bitcoin. I am an engineer and after being in the Bitcoin community for a while, I joined NEM as one of the original 5 developers and proposed their consensus algorithm, Proof-of-Importance.
From there, I became interested in the enterprise blockchain space and started my company, SORAMITSU, in 2016, focusing on contributing to the open source, Hyperledger Iroha blockchain. We used Iroha to build the world’s first retail CBDC solution launched using real money in the world, in 2019, in Cambodia, working with their central bank.
In 2017, I decided to return to my crypto roots and contribute to the open source SORA project, which we have been doing ever since.
I graduated with my PhD in Interdisciplinary Information Studies from the University of Tokyo.

Beno, can you share more about the collaboration with Curio?

Beno: We met the Curio team a couple of times: At Polkadot Decoded in Copenhagen, ParisDOTcom in Paris and Sub0 in Lisbon last September. They have a strong network of backers, in-depth DeFi knowledge, an interesting balance between degen and professional mindset, and have been exploring and executing how to tokenize RWA’s, years before it was a thing. We had several conversations on potential partnerships and have now formulated proposals to our communities to list our tokens on each other’s DEXes and adding some liquidity and rewards.
The SORA Council and community will be asked to vote on:
CGT (Curio Governance Token) addition to HASHI
CGT Listing on Polkaswap
Vote on $25k XOR to list and provide liquidity on Capitaldex with USDC in a wallet controlled by Curio.
Vote on additional rewards for the XOR/USDC pool on Capitaldex (VAL , XOR or PSWAP?)
Curio will add $10k XOR and $10k CGT to a SORA wallet for Order Book trading.
More info about the proposal:
Capitaldex uses a similar logic for reward distribution like Sushiswap masterchef, rewards every block. They do not have a liquidity locker and are not going to have one soon.

Fernando, we want to learn more about Curio products. How does RWA back the digital assets?

Fernando: Real World Assets (RWA) serve as the bedrock for Curio’s digital assets, anchoring them in tangible value and stability. We call them asset backed tokens. RWA backing entails tethering digital tokens to real-world entities, offering investors a bridge between the traditional and digital asset worlds. Curio’s approach involves tokenizing various high-value physical assets, including IP, art pieces, minerals known also as commodities, and more.
Curio meticulously oversees this tokenization process, ensuring robust due diligence, legal documentation, and regulatory compliance to safeguard investor interests. As of today Curio Ecosystem includes a one stop solution to go from real asset to liquidity. It all starts with:
CurioInvest, our Curio Launchpad which tokenises a real world asset and provides the right onboarding for companies to submit their real world asset.
Additionally, the ecosystem benefits from integrations with decentralized solutions targeting RWA; this includes CapitalDEX (an AMM), Creator Protocol (a Stablecoin), as well as Curio chain, our EVM + Polkadot compatible layer zero.
The benefits of RWA backing are manifold. Firstly, it provides stability to digital assets by tying their value to tangible assets with established worth. This stability reduces volatility and speculative risks, making RWA-backed tokens attractive to investors seeking a hedge against market fluctuations. Secondly, RWA backing imbues the tokens with intrinsic value, appealing to investors who prioritize tangible assets within their portfolios. Furthermore, RWA-backed tokens enable portfolio diversification, allowing investors to access various asset classes within the digital ecosystem.
Already, these solutions unlock real world asset in a non custodia way. And together with integrations such as with Chainlink, MakerDAO, as well as liquidity provision collaborations with SORA, and more players we hope to create a market for non liquid real assets. The potential benefits of RWA backing are significant. By providing stability, intrinsic value, and diversification opportunities, RWA-backed digital assets offer a compelling investment proposition for a broad range of investors.

Here’s a question on RWA for SORA. The maker has been exploring and using RWAs in the form of cash equivalent assets as collateral, so will Kensetsu also have RWA? If so, this would be an excellent opportunity to show the community that we will not remain centralized.

Makoto: That’s a question for Satoshi Shibarimoto, but generally I would say that any RWA backing a decentralized stable coin would have to have the amount of issuance managed in a way to reduce risks related to centralized assets in the real world. I think Maker DAO probably exposes DAI to too much risk in how they manage it, but so far they have not had trouble.

When will we get leverage trading on Fearless wallet/SORA wallet/Polkaswap Dex? What is the progress with LAOS, Solomon Islands, and Sri Lanka? How far in progression is the stablecoin Progmat Coin creation, which is in partnership?

Makoto: So many questions! For leverage trading, I think Apollo from the Ceres team is the first step in that direction. Though leverage trading is extremely risky and I wouldn’t advise it for anyone! For Laos/Solomon Islands/Sri Lanka, we are still working on all the initiatives. For Laos/Solomon Islands, these are central bank systems. For Sri Lanka, we have made some progress recently in designing a way to start out in a small area there, so I hope we can make something happen this year. Regarding Progmat, there will be a part that is on public blockchains, so we are going to try our best to get some of the action on SORA. Let’s do our best!

Question to CurioDAO: For the community to vote on adding your token to Polkaswap and adding liquidity to CapitalDEX on Curio Chain: Can you explain the tokenomics of CGT?

Fernando: Community contributors have crafted an initial document accessible via our Telegram group. Feel free to join this vibrant community and request access to the document. It’s worth noting that the Curio ecosystem maintains a multi-chain presence, spanning both the EVM and Polkadot ecosystems. This approach ensures a comprehensive solution to enhance compatibility across the blockchain industry.

Question to CurioDAO: Can you explain the plans and roadmap for CurioDAO for 2024?

Fernando: Expanding the reach of Real-World Assets (RWA) to various blockchain ecosystems, launching a stablecoin, introducing a new NFT launchpad, and enhancing user experience across platforms are pivotal steps toward amplifying Curio’s presence and fostering growth in the RWA space.
Key Actions:
1. Multi-Chain Integration:
Deliver RWA to all parachains and networks, including NEONVM, Polygon, Filecoin, BNB, ICP, Aurora, and the Lightning Network.
Establish interoperability protocols to facilitate seamless asset transfer and trading across diverse blockchain ecosystems, enhancing accessibility and liquidity.
2. Stablecoin Launch:
Introduce a stablecoin on Curio Chain to provide stability and facilitate seamless transactions within the ecosystem.
Enhance user confidence and utility by offering a reliable medium of exchange and store of value for RWA token holders and traders.
3. NFT Launchpad:
Launch a new NFT launchpad on Curio Chain, empowering creators and collectors to tokenize and trade digital assets with ease.
Provide a curated platform for NFT projects, fostering innovation, and enabling community engagement and participation.
4. Exclusive Social Media Launch:
Initiate a social media launch exclusively for NFT token holders, leveraging platforms like RollApp.store to engage and reward the community.
Cultivate a vibrant ecosystem of NFT enthusiasts, fostering collaboration, and driving awareness of Curio’s offerings.
5. UI/UX Enhancements:
Update the UI and UX across CurioInvest.com, RollApp.store, and CapitalDex.exchange to deliver a seamless and intuitive user experience.
Prioritize accessibility, functionality, and aesthetic appeal to attract and retain users, enhancing overall satisfaction and engagement.
6. Expansion of Asset Originators:
Forge partnerships with additional asset originators to diversify the range of real-world assets tokenized on Curio’s platform.
Expand the scope and depth of offerings to cater to the evolving needs and preferences of investors, maximizing opportunities for asset tokenization.

SORA Card: What is the latest news you can share?

Beno: We are preparing an upgrade to release next week. This will enable a smoother KYC process. reCAPTCHA is being added which means a better filter applies to the SMS system and thus legitimate applicants will have a better user experience. We are very close to having the virtual cards and fiat wallet ready for you to use. Next to that, we are finalizing direct fiat to XOR swaps purchases again.

What are the benefits for CurioDAO community members when listing on Polkaswap with regards to SORA Card?

Beno: CurioDAO community members will have direct access from their e-money wallet and SORA Card to their self-custodial wallet containing CGT, which can be swapped or traded on Polkaswap for XOR and many other tokens. It will be the easiest on/off ramp to CGT in a way that offers as much freedom to the individual as possible. SORA Card works like any other neobanking-style solution and offers an IBAN and debit card to spend fiat in the regular economy, with an easy and fast bridge to the crypto economy. Interoperability between DeFi and TradFi at it’s best, all in the palm of your hand with SORA Wallet and Fearless Wallet.

The challenges for RWA tokens are the lack of secondary markets and liquidity. What are the options to solve this?

Fernando: The challenges faced by Real-World Asset (RWA) tokens, notably the lack of secondary markets and liquidity, necessitate innovative solutions to foster their adoption and sustainability. One promising approach involves the introduction of automated market makers (AMMs) with a compliance layer, coupled with the burgeoning demand from crypto institutions seeking to diversify their treasury.
Automated Market Makers (AMMs) with Compliance Layer:
AMMs, a cornerstone of decentralized finance (DeFi), offer a decentralized solution to liquidity provision by algorithmically setting prices based on supply and demand. Integrating a compliance layer ensures adherence to regulatory requirements, mitigating risks and enhancing investor trust. This dual approach addresses liquidity concerns while maintaining regulatory compliance, thereby laying a solid foundation for the growth of RWA token markets.
Early Demand from Crypto Institutions:
Interestingly, the primary demand for RWA tokens stems from crypto institutions rather than traditional finance players. These institutions, accustomed to operating within the crypto ecosystem, recognize the need to diversify their treasury holdings beyond crypto assets. Currently, many of these entities hold portfolios comprised solely of cryptocurrencies, exposing them to significant risks associated with market volatility and concentration. By integrating RWAs into their portfolios, these institutions bolster their risk management strategies, enhancing the sustainability of their projects.
Risk Mitigation and Yield Generation:
Diversifying crypto reserves with real-world assets not only mitigates risk but also introduces the potential for additional yield generation. While crypto assets are known for their volatility, RWAs often offer stability and income-generating opportunities. Through careful selection and management, these assets can provide reliable returns, further incentivizing institutions to allocate capital towards RWA tokens.

#10

Will this collaboration also benefit from Order Books in SORA?

Makoto: Yes it will, since CGT and other tokens will be able to be traded on Polkaswap without providing matching liquidity in other tokens, so it will be easier to get more of these tokens, I would imagine.

#11

Curio’s question to SORA: 1) According to BCG, the tokenization of illiquid assets is expected to reach $16T by 2030. Millions are aligning to revolutionize liquidity for real-world assets (RWAs) through crypto institutions; an example is MakerDAO investing over 1.2B in RWA Tbills. Today, traditional finance is taking note as RWAs become a key component of treasury diversification objectives. Please tell me more about SORA’s plans to diversify and bring liquidity to RWAs.

Makoto: Good question I see the role of RWAs in SORA as a way to generate some revenue for the ecosystem. The token bonding curve already has a lot of assets in it and expanding these to yield-bearing RWAs could be a way to earn passive income that is owned by the protocol, which can be used to offset the balance of payments deficit that we have until XOR is widely adopted. Not sure if anyone else has thoughts on this, but that is my personal opinion.

Now, there are more questions from the community. Let’s explore them.

Fernando: Before I begin answering question, it is clear I cannot address all of them. Hence I welcome you to follow up in our Telegram community chat.

On which network can I get your token?

BSC chain
Tron
Ethereum
Polygon

Or any other network, can you tell us?

Beno: I’ll pick one. XOR, VAL, XST, XSTBTC, XSTUSD, PSWAP and a few others are available on Ethereum. All SORA ecosystem tokens are available on SORA network.

Security and anonymity are always prioritized by BlockChain projects in the development of project platforms and technologies. So, do you have any technological solutions or plans to enhance user trust in these issues?

Makoto: At least for tokens on the SORA network, users have many self-custodial tools, such as wallets (fearlesswallet.io) and a DEX (polkaswap.io) to manage their own keys and assets and interact directly with the blockchain.

Is your platform suitable for Crypto beginners? Or does it only appeal to professional users?

Beno: polkaswap.io and wiki.sora.org. Try it out and let us know.

William Richter: Thank you very much for submitting your interesting questions, and special thanks to our guests for answering!

We look forward to seeing you in another AMA! To our guests, do you have anything to tell the SORA community before we wrap up?

Beno: A lot of exciting things are happening every day and I look forward to sharing good times with the community soon 🙂
Fernando: Thank you very much for submitting your interesting questions, and special thanks for following us! We look forward to seeing you in another AMA! To our guests, before we wrap up, we’d like to express our gratitude to the SORA community for their continued support and enthusiasm. Your engagement and feedback are invaluable as we strive to push the boundaries of innovation in the RWA space. Together with Curio , we’re shaping the future of finance and unlocking new possibilities. Until next time! Don’t forget to follow us.
At my end, I want to take Beno and Makoto for their extraordinary performance and execution. We are positively impressed at how despite our busy workload, we continue achiving progress. While some partners promise but do nothing, SORA keeps on delivering. We are more than exciting towards what is coming in 2024! As well as to the entire SORA Team!
Makoto: I really hope everyone found this AMA interesting and learned more about Curio and potential synergies that SORA may have with them and their community!

About SORA, Polkaswap, and Fearless Wallet

SORA is a new economic order for the world, aimed at high growth and empowering human progress. The SORA network includes interoperability with the Polkadot and Kusama networks, as well as the capability to bridge external blockchains (like Ethereum) to the Polkadot ecosystem.

Polkaswap is a DeFi application on the SORA network, it is a non-custodial liquidity aggregating, cross-chain AMM DEX designed uniquely for the Polkadot ecosystem. It offers boundless liquidity through its one-of-a-kind Aggregate Liquidity Technology (ALT).

Polkaswap utilizes SORA network interoperability with the Polkadot and Kusama networks, as well as the capability to bridge external blockchains (like Ethereum) to the Polkadot ecosystem.

Fearless Wallet is a bespoke mobile wallet designed for the decentralized future on the Polkadot and Kusama ecosystems, with native support for iOS and Android platforms. It provides a thrilling user experience, fast performance, and secure storage for your accounts. Fearless Wallet will integrate Polkaswap for easy, decentralized swaps of assets.

Connect With Us

SORA 𒀭 community:

Twitter | Telegram | Reddit | YouTube | Announcements Channel

Polkaswap 𒊹𒂵𒆜 community: