About Boson Protocol
Boson Protocol decentralized infrastructure for enabling autonomous commercial exchanges on Ethereum. Boson is a peer-to-peer system which replicates the benefits of a market intermediary, without the disbenefits of centralized systems- which abuse trust by extracting excess profits and hoarding data, and arbitrated decentralized systems- which add cost and friction. The protocol is a permissionless, generic mechanism for enabling the decentralized exchange of digital value for a non-fungible token voucher representing any product, service or thing. This, without centralized intermediaries and with minimized arbitration, trust and cost.
Boson Protocol implements a 2-sided deposit structure within a dynamic game, which automates the mediation of disputes and mitigates reversal losses, by ensuring that both agents have skin in the game. Commerce data is pooled and equitably monetized within a secure, privacy-preserving, shared data layer with ownership retained by the individual. The system is community-owned, public infrastructure, which is resistant to capture. As such Boson represents a breakthrough in the scalable, automated coordination of commercial exchange with a vision:-
Boson Protocol This white paper is structured as follows. The first section is an overview of the protocol, and can be read as a standalone ‘Light Paper’. The Overview has three sub-sections. A Background which describes the current situation and the problem which Boson Protocol addresses. Next, Vision & Objectives which specifies the solution requirements. Then, Boson Protocol Overview, which provides a high-level description of the protocol. Following the Overview section are separate sections detailing the Core Exchange Mechanism, Token Model, Governance and Technology. These subsequent sections are not required reading for a general understanding of the protocol.
Boson Protocol Storage Key Points
Coin Basic InformationCoin Name Boson ProtocolShort Name BOSONCirculating Supply28,057,451.26 BOSONTotal Supply200,000,000Source CodeClick Here To View Source CodeExplorersClick Here To Visit ExplorersTwitter Page Click Here To Visit Twitter Group WhitepaperClick Here To View Support24/7Official Project Website Boson Protocol
Is it possible to design a peer-to-peer system which replicates the benefits of a market intermediary, without the dis benefits of current centralized and decentralized systems? Such a system would coordinate economic exchange whilst minimizing trust and cost. Commerce data would be pooled within a secure, privacy-preserving, shared data layer and would be owned by the individual, and monetized in an equitable way. The system would be community-owned, public infrastructure, which would be resistant to capture and would be capable of out-innovating and out-competing entrenched incumbent. This is the challenge which we take-up and which we believe Boson Protocol has the potential to meet.
Decentralized Coordination of Economic Exchange:
To design a decentralized protocol which coordinates the exchange of monetary for non-monetary value whilst minimizing arbitration friction and costs, so as to be widely applicable and practical.
This requires the following properties:
● Arbitration minimized the core system is automated and requires human intervention from arbitrators as an exception only.
● Trust minimized — all parties can reach consensus on the truth without requiring a trusted third party, with arbitration as an exception only.
● Practical atomicity — payment and receipt of goods happens together or not at all, so Buyers can trust that either they receive the goods or their money back, and Sellers can trust that they will be paid for goods supplied.
● Incentive compatible — the mechanism enforces system rules and ensures that there is no advantage to be gained by breaking the rules.
● Practical and commercially acceptable — the rules are simple enough to understand and use, and commercially acceptable to all parties.
Boson Protocol Overview
The vision for Boson: “To be the world’s open, public infrastructure layer for commercial transactions and their data”, is enabled by a design with five modular and substitutable components. First, a commitment to perform a future commercial exchange represented as a tokenized voucher. Second, a core mechanism for autonomous coordination of commercial exchange. Third, a token model for incentivising actors, and capturing and distributing value. Fourth, a Web3 data marketplace for monetizing data. And finally, an evolving governance system for directing and controlling the protocol throughout its lifecycle.
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 (NFTVs), whose states change as they flow through Boson’s core exchange mechanism.
Technology Overview Powering exchange
Commitment Tokens (NFTs)
Commitments are made by depositing digital value into an escrow contract represented by stateful non-fungible commitment token, enabling automated digital to physical redemption.
Core Exchange Mechanism
Boson’s core mechanism is a type of sequential game where the rules and the deposit transfer scheme are designed to coordinate transactions and incentivize parties to behave fairly.
$BOSON tokens are used to govern Boson Protocol, ensuring consensus around critical decisions and controlling the issuance of funds from the dCommerce DAO.
Participation in staking, and therefore the curation of offers, is incentivized by rewarding users with $BOSON tokens.
Supply & Demand Mining
$BOSON enables supply and demand acquisition by incentivizing Sellers, Buyers and Aggregators.
Following the principles of a Web3 Sustainability Model, the dCommerce DAO will be community-governed, funding the growth of the dCommerce ecosystem.
Why is dCommerce the future?
Decentralized infrastructure for the autonomous exchange of digital value for physical things & their data
Progressive decentralization challenges the monopolistic extraction and rent-seeking behaviour of centralized commerce incumbents.
Resolution is based on practical atomicity: either an exchange happens or it does not happen at all.
Mediation, arbitration and reversal are automated in a dynamic game where incentive rewards decrease the need for human arbitration over time.
Planetary-level Web3 data marketplace for commerce incentivizes voluntary data sharing by providing an equitable distribution of the proceeds.
Core Exchange Mechanism
Boson’s core exchange mechanism is sufficiently complex to manage the exchange, dispute mediations and reversals; but simple enough to be governed by a game. Boson NFVTs escrow three monetary amounts upon both parties’ commitment to transact. First a payment amount is taken from the Buyer and is released to the Seller if, and only if, the Buyer cryptographically signs a redemption transaction. This ensures practical atomicity, by which we mean the transaction is as atomic as a cash transaction. Second, the Buyer transfers to escrow a deposit, which is held as a commitment for the Buyer to proceed with the transaction, and is forfeited should the Buyer reverse the transaction through no fault of the Seller. Third, the Seller transfers to escrow- a deposit, which is held as commitment for the Seller to redeem the Boson NFVT for the thing, to an acceptable quality. These 2-sided deposits represent commitments within a dynamic game which minimizes arbitration by automating dispute mediation and reversal via an incentive compatible and commercially acceptable set of rules. The game’s algorithm evolves over time towards increasing automation and decreasing arbitration.