The SORA Network (Polkaswap included) is built with Substrate, a framework for creating cryptocurrencies and other decentralized systems, that scales more efficiently than Ethereum, allowing for lower fees. Polkadot is built with Substrate, therefore projects built with Substrate can run natively on Polkadot as Parachains.
The SORA network excels at providing tools for decentralized applications that use digital assets, such as atomic token swaps, bridging tokens to other blockchains, and creating programmatic rules involving digital assets. Besides Polkaswap, one of the main applications running on the SORA network is the SORA decentralized economic system itself.
SORA won the 24th Kusama parachain auction for the 25th lease (February 22nd, 2022 - Jan 31st, 2023) on the 6th of February, 2022.
After the slot on the Kusama Network is secured, users can support the funding of the auctions in the following years by buying XOR with DOT and KSM from the token bonding curve. By doing so, you'll increase the reserves of the token bonding curve and they will be used to make a bid in the auctions. Furthermore, there is a special reward in PSWAP when buying with DOT and KSM, this reward is higher when there are fewer reserves, and will decrease as they accumulate.