Boson Protocol DAO Vote #3 -Setting Protocol Fee
Have your say in the next Boson DAO vote
Introduction
Boson Protocol is launching v2 of the protocol, after months of intense protocol design upgrades, the foundational primitive for decentralised commerce is almost here. Boson Protocol v2 will enable the trust-minimised and automated exchange of off-chain assets, by tokenizing commitments to trade as redeemable NFTs (rNFTs).
For Boson Protocol to be self-sustainable, fees will be introduced for executing transactions on the protocol. Boson Protocol v1 didn’t include a Protocol fee and was free to use. After the successful v2 launch the Protocol fee is going to be an essential part of the protocol.
Following our decentralisation roadmap, Boson is on the verge of being decentralised to the point that it will sustain its own community of builders and contributors. In order to achieve this, an income in the form of a Protocol fee will flow into the DAO to be distributed later through the governance process to the community.
This is one of multiple votes that will happen in the near future around the Boson Protocol v2 launch. We invite everyone who holds $BOSON tokens to vote on one of the fee structures and decide which one is going to be implemented by the end of the voting period.
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Executive Summary
V2 of Boson Protocol allows for the setting of a Protocol fee, see Page 33 in the v2 Whitepaper.
The Protocol fee only applies if the Offer price is not priced in $BOSON. If the Offer is priced in $BOSON, no Protocol fee applies to the exchange.
The Protocol fee is levied on the Offer price and is charged for successful exchanges only. If an exchange’s outcome is an undesirable endstate, such as the Cancellation by the Buyer, Revoking of the exchange by the Seller, or the resolution of a dispute, no protocol fee will be charged.
The Protocol is designed to allow all participants to share in the value they create, with fees that are sufficient to sustain and grow the project, and with community governance that ensures Boson remains minimally extractive, forever. This is a crucial step in the progressive decentralisation towards community governance via the Boson Protocol DAO.
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Proposal Details
Protocol Fee Parameter setting
Three options for setting the Protocol fee are proposed below:
Option A
0.5% Protocol fee
Option B
0.6% Protocol fee
Option C
0.7% Protocol fee
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How to participate:
- Join the discussion on Discord (#boson-dao channel) between August 15th and August 21st. Justin Banon, Co-Founder of Boson Protocol, and Jonas Seiferth, Web3 Director, will hold office hours on August 19th to answer any questions from the community.
2. Vote on Snapshot between August 22nd and August 26th. Following. Boson Protocol’s governance process, more than 0.5% of the total circulating token supply must vote for one of the variants for a vote to pass. Here’s the help guide to Snapshot voting.
Join the community now to vote for the future of Boson Protocol!
About Boson Protocol
Boson Protocol enables you to build commerce applications that anyone can use and everyone can trust. Decentralized Comerce enables a new world of commerce that bridges the on-chain and off-chain world.
Easily add dCommerce capabilities to your dApp, build a web3 marketplace or even create your own loyalty program where your customers can redeem real-world rewards in a Web3-native way.
Want to Build on Boson?
- Sign up for the Boson Protocol v2 Launch Partner Program
Keen to learn more?
- Download the Boson Protocol v2 whitepaper
- Watch the Boson v2 whitepaper keynote at EthCC[5]
Got more questions?
Our FAQs ought to have you covered.
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