$GORA Token On ERC-20

$GORA now available on ETH ERC-20

Gora Network, a leading blockchain solution powerhouse and the creator of Gora, the oracle network built on Algorand, is making a strategic move to expand its reach and utility. $GORA will be available on the Ethereum (ETH) blockchain as an ERC-20 token and will coexist alongside the Algorand-based version.

This powerful move coincides with the exciting merger with RociFi, a credit score oracle protocol, further propelling Gora’s journey towards becoming a dominant force in the DeFi landscape.

By launching $GORA on the Ethereum blockchain, Gora Network aims to tap into the vast ecosystem of decentralized finance (DeFi) applications, centralized and decentralized exchanges (CEXs and DEXs) to be announced, and other Ethereum-based protocols. Let´s review the details:

The RociFi Merger and Its Impact:

The merger with RociFi creates a win-win scenario for both communities. $ROCI holders who convert to $GORA will be able to run a node immediately; unlocking a juicy APR and stacking their holdings. In preparation for the conversion, $ROCI trading will be paused. More information will be continuously provided as to where and when holders can convert to $GORA, run nodes, and stake.

Gora’s hotly anticipated DeFi platform launch, GoraFi, will now be added by the RociFi team; including wallet information to reduce airdrop hunters and ensure top wallets are rewarded with the most tokens. Also, the merger will introduce this ERC-20 version of $GORA that will be tradeable on EVM-compatible DEX in Q2/24. $ROCI ( the native token of RociFi ) holders will be able to convert their holdings to $GORA, dollar for dollar. More details will be released regarding $ROCI token conversion, DEX trading pool, node enrollment, and revised product roadmap and Tokenomics.

More information coming from RociFi on this topic is now available here:
https://blog.roci.fi/rocifi-x-gora-groundbreaking-merger-pioneering-the-defi-risk-oracle-0bc5517e748c
and here:
https://blog.roci.fi/roci-conversion-details-557fdbc3239c

Essential DeFi concepts and FAQ:

• $GORA remains an Algorand-based asset.
• $GORA symbol and icon remain the same.
• The total supply as created will not be changed, 100M total supply remains.
• The Algorand version of the token will have a burning process to allow mint the intended amount of new tokens in ERC-20
• The token price as reflected through listing platforms ( ie CoinMarketCap ) will reflect the combined price in both chains, Algorand and Ethereum
• Listing platforms such as CoinMarketCap and CoinGecko will be updated after the ERC-20 token is launched to reflect data.
• The $ROCI to $GORA conversion process will be explained in detail in the official RociFi X account, but you can read more here: https://x.com/GoraNetwork/status/1795110842687496577
• The staking process of the $GORA in Algorand will continue as it is now throughout our Mainnet app, on www.gora.io
• The staking process of $GORA (ERC-20) is now available in https://gora.fi/stake

— — — - Delegate on Gora.Fi to earn $GORA on ETH rewards. (Calculated every 15 days due to EVM)
— — — - Stake & Earn Up To 20% APY ✨
— — — - Delegate on your favorite Validator, coming soon!
— — — - How to Start Staking your $GORA on EVM: watch our tutorial: https://youtu.be/UCf3yzTZ7XQ

• The liquidity pools on Algorand will remain as created in time and conditions
• The swap tool created by Tinyman and available on the Gora website remains to be utilized only for the Algorand blockchain
• You will need to have an EVM-based wallet ( i.e Metamask ) to hold and trade $GORA on ERC-20
• Contract Address $GORA Token on Ethereum: 0x3b9b5AD79cbb7649143DEcD5afc749a75F8e6C7F https://etherscan.io/token/0x3b9b5AD79cbb7649143DEcD5afc749a75F8e6C7F
  (Double-check before interacting to avoid scams!)
• Trading of $GORA on ERC20 via Uniswap Exchange is available here.
  https://app.uniswap.org/swap?inputCurrency=0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2&outputCurrency=0x3b9b5ad79cbb7649143decd5afc749a75f8e6c7f
• Additionally, you can seamlessly bridge $GORA tokens between the Algorand and Ethereum blockchains using the Messina.One bridge. Read more here: https://x.com/GoraNetwork/status/1788237515620528310
• Stay tuned, as Gora.Fi will soon facilitate this interoperability as well

Enhanced Liquidity and Trading Opportunities

By becoming an ERC-20 token, the $GORA token gains access to a broader pool of liquidity on Ethereum-based centralized exchanges ( TBA ) and liquidity pools. This increased liquidity enhances the trading experience for $GORA token holders, providing them with greater flexibility and efficiency in executing trades and managing their portfolios.

The integration of the $GORA token as an ERC-20 asset underscores Gora Network’s commitment to innovation and growth within the decentralized finance landscape. By embracing interoperability and expanding its presence across multiple blockchain networks, Gora Network is poised to unlock new opportunities for decentralized applications, developers, and users worldwide.

Audits for the Future: Transparency is Key

To ensure the highest level of security and trust, Gora Network is hiring independent audits on the ERC-20 $GORA Tokenomics and the Gora.Fi platform. This commitment to transparency further strengthens Gora’s position as a reliable and trustworthy player in the blockchain space. This is an ongoing process.
And this detail: Gora burns Algo $GORA for each minted ETH GORA. Also, we’ll be releasing another token audit within the next weeks on this matter. The explorers on Algorand and Ethereum don’t always show the burned amounts. We will create a section on the website that provides live updates and transaction IDs for verification.
We use Vestige’s Burn Vaults for $GORA on Algo. On Ethereum, we send to a zero address. Sometimes, the explorers don’t show the burned amounts. We’ll post the burn transactions for clarity.

About RociFi

RociFi is a decentralized credit economy with EVM on-chain credit scores designed to facilitate under-collateralized lending. It consists of an on-chain lending protocol and off-chain credit scoring API, leveraging on-chain data, machine learning, and loan risk management to enable under-collateralized loans via the blockchain. RociFi aims to quantize credit and facilitate on-chain under-collateralized lending, providing a unique solution within the decentralized finance (DeFi) space

About Gora Network

Gora Network is a decentralized oracle platform that provides secure and reliable access to real-world data for blockchain-based applications. By leveraging decentralized consensus mechanisms and cryptographic security, Gora Network ensures the integrity and reliability of data feeds, empowering developers to build scalable, secure, and decentralized applications across various industries.

For more information about Gora Network visit https://linktr.ee/goranetwork

Disclaimer

1. Gas Fees: With the deployment of the $GORA token on ERC-20, users should be aware that transactions on the Ethereum network may incur gas fees. Gas fees are charges paid to Ethereum miners to process and validate transactions on the network. These fees can vary depending on network congestion and the complexity of the transaction being executed.
2. Transaction Speed: Ethereum’s network operates differently from Algorand, and transaction speeds may vary. While Algorand transactions typically settle within seconds, Ethereum transactions may take longer to confirm, especially during periods of high network activity.

The information provided in this blog regarding the $GORA is for informational purposes only and does not constitute financial advice. More information will be updated and edited here as it becomes available. Gora Network does not endorse or recommend any specific investment decisions and reminds readers to conduct their research before taking any financial actions.