DAOrayaki Research |Boson Protocol：Decentralized Commerce Ecosystem

DAOrayaki

5 min readJun 11, 2021

DAOrayaki DAO Research Grant：

Fund Address: 0xCd7da526f5C943126fa9E6f63b7774fA89E88d71

Voting Result：DAO Committee Yes

Grant Amount：170 USDC

Category: DAO, NFT, Art, Physical Trading, dCommerce, Token Voucher, Thing Token Web3

Contributor：Jones , 黑白QB@Daorayaki

Chinese Version:https://daorayaki.org/daorayaki-research/

Financing:

Raising Funds: Around $10M USD

Boson Protocol current price: $3.54 USD

Boson Protocol current volume: $57M USD

Launch date: early 2019.

Token name: BOSON TOKEN

Token type: BOSON is issued under the standard protocol ERC20.

Introduction:

Boson Protocol is a decentralized infrastructure designed to provide an open, public infrastructure layer for commercial transactions and their data, and that is by allowing smart contracts to practice on-chain financial transfers in line with the off-chain, usually physical, good and services delivery in an atomic and autonomous way.

Physical goods trade as digital assets trade is what Boson Protocol focusing on. A commerce business runnable without any centralized monopoly interaction. Where customers can decide what they can do with their own data whether to keep it private or to monetize it. Also, an execution of the real-world commerce transactions in a decentralized and autonomous way.

Team members:

Founding team and advisors are listed below:

FOUNDERS:

Justin Banon: CEO & Co-Founder

Tech unicorn builder: As global MD, blitzscaled Priority Pass Group from a $50m to $1Bn revenue digital voucher marketplace.
Blockchain strategy consultant.
Digital business model researcher:
MSc innovation.
Digital Currency.

Gregor Borosa:Tech Co-Founder

Lead engineer:
Major bank & payment systems, including Central Bankof Slovenia.
Blockchain technologist:
Taught masters blockchain courses Blockchain architecture consultant & dev.
Computer science background:
Master Business informatics, MSc Digital Currency.

ADVISORS:

Dr.Trent McConaghy: Founder

Ocean Protocol Advisor.
Investor.

Dr.Zeynep Gurguc:

Imperial College London Cryptoeconomics Advisors.

Dr Michael Zargham:

Founder
Blockscience Token Engineering Advisor.

Jamie Burke:

Founder
Outlier Ventures Advisor.
Investor.

Marina Markezic:

Unlawcked Legal & Governance Advisor.

Jordan Lyall:

Founder of $MEME Project Product Lead at Consensys.

KEY TEAM MEMBERS:

Matt Law:

Chief Strategy.

Dr.Anish Mohammed:

Protocol Design.

Sebnsen Rusitschka:

Ecosystem Architect.

Shawn Anderson:

Token Engineer.

Boson Protocol governance mechanism:

Boson will follow the pragmatic path of progressive decentralization across three phases. First a centralized control lean start-up to achieve protocol-market fit using rapid iterating across multiple build-measure-learn cycles. This demands strong leadership skills with fast reaction and decision-making abilities and that is to fulfil the market feedback position. Resulting the protocol to be centrally controlled and developed, and smart contracts with admin rights. After that, once the protocol has developed defensibility via network effects, a minimally extractive fee will be levied on protocol services. This later will be used to incentive a community of early adopters and contributors to scale-up the project by contributing with valuable work via token incentive schemes, grants and bounties. Leading the founding team to give more control and responsibility to the community.

Finally, Boson will fully decentralize of to a DAO or similar distribution of ownership, value and control, and that is to ensure regulatory compliance as well as resist capture from centralized entities or groups.

Boson Protocol incentive mechanism:

Boson protocol incentive mechanism focuses on gathering redeemers for the high-quality vouchers as much as possible. This requires from the system to incentivize:

Supply-side acquisition and demand-side distribution of inventory.
Early adopters, to overcome the chicken and egg effect.
Curation and redemption of quality inventory.
Data sharing and monetization.

When it comes to the token design, the devs followed a methodology proposed by Trent McConaghy and that is to:

Formulate the problem.
Try an existing pattern.
Use a new pattern only if needed.

Meanwhile to incentivize the participants, Boson reward them with Boson’s network token: Bosons, and that is for maximizing the supply of quality redemptions.

Below we list the different elementary agents required for the Boson Protocol:

Sellers and Buyers: Actions coordination via smart contracts.
Keepers: Support providing to the operation of the ecosystem.
Aggregators: Non-custodial hubs for multiple Sellers.
Resellers: Custodial power Buyers that have their own, out-of-bond non-custodial buyers.
Voucher Kernel: set of smart contracts that cover the business logic.
Token pool: Accumulated tokens residency.

Web3 data marketplace: A connector to the external environment. Where Boson important data agents and their transactions are routed.

NFT Vouchers:

Rather than tokenizing things directly, Boson instead represents a promise to exchange digital value for a thing at a future date, as a non-fungible token voucher (NFTV), Thus Boson NFTVs can be conceptualized as a type of futures contract for a thing. Boson contracts are implemented as stateful non-fungible token vouchers (NFTV), whose states change as they flow through Boson’s core exchange mechanism.

Commitment Tokens:

Digital to physical redemption is automated by tokenizing a Buyer and Seller’s commitment to exchange digital value for a real-world thing at a later date. Where commitments are made by depositing digital value into an escrow contract within a stateful non-fungible commitment token.

Core exchange mechanism:

Commitment tokens are governed by Boson’s core mechanism, that is defined as a type of sequential game in which buyer and seller commit deposits up-front. Game rules and the final deposit transfer scheme is designed in such a way that coordinates transitions and incentivizes parties to behave fairly.

Thing Tokens:

NFT commitment token different types are purchasable with a specific Thing token. Because these Thing tokens are standard (ERC20) tokens, they can be easily transferred and traded using standard crypto infrastructure such as wallets and exchanges. Plugging Thing tokens into DeFi leads to allow digital markets liquidity for any Thing, including the DEXs usage. Boson Thing tokens are fully interoperable and composable within the DeFi ecosystem.

Contracts:

Smart contracts used in Boson Protocol are based on two NFT standards, ERC-1155 and ERC-721. They are available under the following Github repository: https://github.com/bosonprotocol/contracts/blob/main/docs/contracts/overview.md

Official Website: https://bosonprotocol.io/

Social Media:

Twitter: https://twitter.com/BosonProtocol

Telegram: https://t.me/bosonprotocol

Medium: https://medium.com/bosonprotocol

Youtube: https://www.youtube.com/channel/UCcxilOavX03XF2d5Q9LbMwA/featured?view_as=subscriber

Github: https://github.com/bosonprotocol

CoinGecko: https://www.coingecko.com/en/coins/boson-protocol

Block Explorer: https://etherscan.io/address/0xc477d038d5420c6a9e0b031712f61c5120090de9

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