Announcing Sorceress, The Cross-chain Oracle for Polkadot
May 17th, 2021, Moscow, Russia — From the Foundation of the Sorceress Project and IOBC, a team of prominent Polkadot developers announces the launch of the Sorceress Protocol, the first multi-chain, parallel oracle protocol and Decentralized Autonomous Organisation (DAO) serving to optimize the Polkadot ecosystem.
As an oracle provider, the core functional goal of Sorceress is to connect on-chain with off-chain data, to enable advanced smart contract operations on multiple networks. Of-chain information such as events, user data and payment information may be brought into on-chain smart contracts through the oracle. By doing so, Sorceress is expanding use cases and applications on blockchain networks and furthering blockchain integration with new industries.
The Sorceress Protocol is completely scalable and modular in design. It includes not only an oracle and Sorceress governance featuring decentralized voting, but SorFarm — a decentralized publishing project, Sorceresster — an interaction terminal and tool for C-suite users to expand their business network, and a Sorceress Browser — including both block browser and relationship browser. Through the Sorceress Protocol, network participants can also achieve accurate predictions on events through the spontaneous arbitrage of the markets and real-time observation of off-chain data. This type of data is used in market predictions, betting on sports, and even election outcomes.
Headquartered in Moscow, Sorceress is set to deploy in Tokyo, India, Indonesia and New York. The team includes experienced corporate finance professionals from diverse industries such as FMCG (Fast-Moving Consumer Goods), energy, telecom, manufacturing, commodities syndicated loans, bilateral loans, structured finance, and project finance, as well as experts in client relationship management and international law. Its technical developers are focused on solving current global problems with cutting-edge solutions through blockchain technology. All organizations of the Sorceress project work closely to help introduce, develop and evolve the Sorceress ecosystem globally, increasing adoption of the Sorceress blockchain.
The Sorceress token SOR will have a total issue of 88,000,000 with an initial issue price of $0.15. Total liquidity before the mainnet is launched will be 22,000,000 SOR, accounting for 25% of the issue volume. The remaining 75% of the uncirculated will be fully mined within 1 year after the mainnet is launched. 11% of these will be offered to the public.
The Sorceress Protocol’s decentralized oracle machine and block verification, combined with open DAO community governance will seamlessly contribute to the security and effectiveness of the Polkadot ecosystem.
“Through Sorceress we see the future where full decentralization and increased connectivity between networks become a reality. As the Sorceress Protocol and its DAO grow we will continue to challenge existing systems providing competitive solutions,” Manmeet Singh, Founder & CEO.
To learn more about the Sorceress Protocol and how you can get involved, visit http://sorceress.pro/.