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Added a link to SORA VALidator Rewards article #161

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Aug 21, 2023
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Added a link to SORA VALidator Rewards article #161

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9 changes: 1 addition & 8 deletions src/sora-economy.md
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Expand Up @@ -124,14 +124,7 @@ XOR supply in the SORA mainnet is backed by acceptable liquid cryptocurrencies,

The token bonding curve is built directly into [Polkaswap.io](https://polkaswap.io) such that if the secondary market price of XOR is exceeded for one of the above trading pairs, the token bonding curve will automatically be executed so that new XOR will be put into circulation, 20% of the buying currency will be put into a pool to buy back and burn XOR, and 80% of the buying currency will go to reserves, held by the token bonding curve. As reserves are in multiple currencies, future releases of the system should provide for ways to balance between the currency reserves to provide liquidity in a variety of tokens. The close integration of the SORA economic model with Polkaswap will allow this process to be automated at some point in the future.

The buy-price function starts at a discount (accounting for the
initial price of VAL on mainnet launch) to the Uniswap XOR price at
launch. The buy-price function uses an oracle to
find out the current price that XOR should be w.r.t. a fiat
currency. The sell-price function is, in turn, 20% less than the
buy-price function. The 20% spread between the buy and sell functions
has different uses, that will be explained in detail in a future
article.
The buy-price function starts at a discount (accounting for the initial price of VAL on mainnet launch) to the Uniswap XOR price at launch. The buy-price function uses an oracle to find out the current price that XOR should be w.r.t. a fiat currency. The sell-price function is, in turn, 20% less than the buy-price function. The 20% spread between the buy and sell functions has different uses, that explained in detail in a [SORA VALidator Rewards](https://medium.com/sora-xor/sora-validator-rewards-419320e22df8) article.

A new [SORA Parliament](https://medium.com/sora-xor/the-sora-parliament-af8184dae384) (multi-body sortition governance system), will provide a methodology for rationally allocating these XOR to create new goods and services in the SORA ecosystem, in accordance with the SORA economic model. All XOR that are created are given for free to the SORA Parliament, which then manages the token supply using the token bonding curve; specifically, the Financial Markets Authority, a standing body of the SORA Parliament will be the entity that buys and sells XOR via the primary market maker.

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