Goracle, a blockchain-based oracle network, has partnered with Tokensoft to launch $GORA, the native token of the Goracle protocol.
Goracle, which is positioned to be the first dynamic decentralized oracle network developed on the Algorand Blockchain, enables globally interconnected decentralized node networks to safely communicate as independent sources to deliver crucial off-chain, real-time external data feeds.
Goracle stated:
“Launching a token is a significant milestone for Goracle, and we are proud to announce that we will partner with Tokensoft to ensure our token launch goes smoothly and in a compliant manner.”
Tokensoft provides a safe, scalable, and legal platform for projects looking to launch tokens. Since 2017, they have supported the launch of tokens by developers and projects.
We are excited to announce the launch of our $GORA token coming at the end of Q1 2023!
But before we get into the details of our token launch, let’s talk about why we need a token: 🧵👇
— Goracle (@GoracleNetwork) January 4, 2023
According to Goracle, the GORA token, which grants holders the ability to manage a node and take part in governance, was created with incentive alignment in mind. For the governance term, community members can stake their GORA tokens, allowing them to vote on protocol improvements.
Goracle stated:
“The Goracle team believes our token should have additional utility beyond governance rights and the right to run a node, which not everyone can do given the technical requirements.”
According to Goracle, the GORA token can be used to buy data and computing power from the node network. Goracle claims the GORA token enables users to make arbitrary data requests, such as calls to external APIs or verifiable random numbers (VRF numbers).
Goracle announced the start of its pricing oracle beacons on the Algorand chain in December 2022 after a year of development. The company is now ready to release the product to the wider market.
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