Property Rights

GoraNetwork is a decentralized oracle network and the GORA token is designed such that it allows the holder to take part in important decisions, stake in GoraNetwork, take part as a node runner, pay for data/computation as a consumer, and obtain value from the network effects of increasing usage of GoraNetwork.

Holding Gora tokens guarantees two rights:

  • Right to participate in running a node

  • Right to participate in governance

Running Nodes

While holding the token allows individuals to run nodes, individuals need to have a level of technical knowledge, as well as the necessary equipment to run node.

Participate in Governance

Governance and a DAO for GoraNetwork are not yet defined but holding GORA will give the right to take part and make decisions on some mechanisms within GoraNetwork.

Token Utility

1 - Purchase of data & Computational Power

Customers use the Gora token to purchase services such as:

  • Arbitrary data (E.g. VRF number, or an API Call),

  • Computational Power

  • Subscription Services

Arbitrary Data

Arbitrary data means when a dApp is calling some API or requesting a verifiable random number. We have been in discussions with various companies who want to get data from sensors (supply chain, insurance, etc), random numbers, or just call any external API trustlessly.

Computational Power

A dApp can only run a limited set of code. DApps can use the GoraNetwork node network to run some code and have the result placed back on chain. For example, a dApp can use GoraNetwork to send push notifications to users if they are about to get liquidated on a dex, or can run some gaming logic and have the result put back on the chain.

Subscription services

Finally, some providers such as sports data or institutional-grade financial data may require subscription payments monthly. As such, a certain amount will be withdrawn from an account each month and the data will be pushed to the smart contract making the payments.

2 - Participating in Consensus

When a customer requests data, Node runners are required to fetch this data. To ensure the data is accurate, all node runners must vote on the data.

Each Token a node runner holds is equal to one vote. Each time a node runner votes, they are rewarded in GORA tokens. If a node consistently votes incorrectly or fails to vote, they are slashed, and its tokens are added to the ecosystem reward pool.

3 - Delegating Votes

Community members who do not want to run nodes may still delegate their tokens to staking providers, such as one of our main partners Validatrium. These staking providers generally take a commission in return for voting on behalf of Delegators. The GoraNetwork system has built-in support for delegating votes without handing over tokens to the staking providers. This will generate greater demand as community members can participate directly in the security of the protocol.

4 - Governance

Each quarter there is a governance period where the community will be able to vote on changes to the protocol. To participate in governance, community members must stake a certain amount of tokens for the entire governance period. Each token allows for one vote on each proposal.

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