Sora Whitepaper

Saturday, February 20, 2021
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XOR One world. One economy. Sora. Version 1.0.0

Sora 2 What is Sora? Sora is a decentralized, world economic system, also called a Decentralized Sora is about: Autonomous Economy (DAE). • Democratization It is centered around Sora (XOR) and the • Empowerment Sora Passport mobile app, which allows users to participate in the Sora DAE. • Collaboration

Sora 3 Problems with existing currencies Existing cryptocurrencies: • Centralized distribution • Lack a rational economic model • Discourages collaboration, as each project creates their own unique token

Sora 4 Our mission: democratisation, empowerment & collaboration • We want Sora to act as the people’s passport into a new economic system. • Our mission is to empower and connect people through an economic system that emphasizes its users preferences, needs, and dreams. • Through the spirit of collaboration, our mission is to become the premier decentralized economy in the world. • We will become a trend-setting economic system that inspires a global community to exchange, produce, and thrive economically. • We envision Sora as one of the most recognized currencies of the 21st century that cultivates and promotes small business growth, cultural enrichment, and democratized exchange of value

Sora 5 Why Sora is good for humanity? We can empower people by giving them the ability to raise the funds they need to create new services that are productive to society. This will advance humanity and work to bring us to the next stage of our evolution.

Sora 6 22 S E C TI ON 0 1 B R A ND O V E RV I E W 空 | T HE BRAND BOOK OF SORA The Story of Sora Decentralized economic system SOLUTION APPS / PROJECTS Like all economies, Sora is comprised of Decentralized Economic System Like all economies, Sora is comprised of actors who work to promote their own apps / projects. actors who work to promote their own By using the Sora currency, these apps can contribute to the Sora economy and build a 1 2 3 4 5 apps/projects. better, decentralized world economic system. SORA ECONOMY By using Sora (XOR), these apps can SERVICES PROFIT contribute to the Sora economy and USE CREATE build a better, decentralized world USER DISTRIBUTE PRODUCER DISTRIBUTE economic system. VOTE XOR PROPOSE

Sora 7 Governance structure Soramitsu can always be replaced by a vote of Soramitsu also helps with marketing and the Sora users, using their voting rights, if the development of the Sora Decentralized users are unhappy with the performance of Autonomous Economy. Soramitsu. For this, Soramitsu gets 5% of the money raised In this way, the Sora Decentralized Autonomous by projects. Economy can continue indefinitely, even if Soramitsu were to go away.

Sora 8 Voting Rights and XOR Voting rights are distributed via the Sora Passport app. The Sora Passport is the entry point into the Sora economy. It manages the voting rights that a user has, allows users to vote for proposed projects. In the future Sora Passport will also incorporate a wallet, allowing users to send Sora (XOR) to anyone in the world.

Sora 9 How are voting rights calculated and allocated? First phase: • Based on graph analysis of invitations among users Future: • Do analysis of the transaction graph for Sora transactions (find out who contributes to the economy) • Look at the voting history of users and give voting rights based on how successful the projects people voted for were • Look at what kinds of Verifiable Claims are made about Sora accounts

Sora 10 Distribution of Sora (XOR) for projects that pass a vote • 5% goes to Soramitsu • 5% goes to users who voted • 90% goes to the project

Sora 11 Why will Sora have any value at all? People with only a vague understanding of Sora (XOR) will develop value as a unit of economics and money often ask why things account by having real-world applications like cryptocurrencies that have no “intrinsic build on the platform that use it as a in their value” have any value at all. Luckily, Bitcoin and system and require XOR for payment. over 1000 more currencies provide an existence proof that cryptocurrencies can have value and can function as money.

Sora 12 Economic Theory The economic model in Sora is based on the disaggregated Quantity Theory of Credit from macroeconomics research. This theory has strong empirical support, showing that money created for transactions that contribute to productive uses (e.g. , creating money to create a steel factory) does not lead to asset price inflation, but rather expands the nominal GDP by the amount created.

Sora 13 Multiplatform We want XOR to live across multiple platforms and not tied to any one technology, but rather transcend technology and work with many different projects. Currently, XOR is an ERC-20 smart contract on the Ethereum decentralized blockchain and can also be used on the permissioned Hyperledger Iroha blockchain, using the Interledger bridge we built. SOR A

Sora 14 XOR distribution plan Sora aims to democratically Projects Users Initial Development Future Reserve Advisors Soramitsu distribute new units of 100% XOR, while still allowing for supporting sustainable development of the system. 75% As an example, the first 20 years of token distribution 50% is shown on the right. This model does not stop at 20 years, however, but 25% continues indefinitely. Year 0 Year 4 Year 8 Year 12 Year 16 Year 20

Sora 15 Comparison to other funding methods Crowd funding VC Funding ICO Sora Target Local Local Worldwide Worldwide Time required 3 months 3 months 6 months 1-3 months Fees* 5-20% Equity 10-30% 0% Receive Fiat Fiat BTC, ETH XOR Issue token Own token Common token * Regulatory compliance, listing fees, etc

Sora 16 One world. One economy. ソラ The world changes. People exist for each other. To love. To support. To build. Humans use technology to adapt to nature. As the times change, society has always People working together is what makes life worth living. evolved with it. It is the basis for all of human society and economic activity. Technology, mixed with new ideas, is the key to paradigm shifts. Progress moves us On the other hand, there are those who only seek to help forward, making the world better. themselves. Centralization. Greed. Selfishness. These are what keep people from reaching their full potential. Change should not be forced on people. People will change by their own will. Now we have the technology to decentralize. To build societies Every individual has great potential. We want to empower people. beyond greed. We can build new economies around empowerment and collaboration. Democratize money. Empower people to create a new world. Empower each other. Collaborate. That is Sora. Sora. -Ryu Okada, Co-Founder & Co-CEO of Soramitsu -Makoto Takemiya, Co-founder & Co-CEO of Soramitsu