The Oddgems AMA Transcript with Justin Banon is here
Boson Protocol’s founder and CEO, Justin Banon did a live AMA hosted by Oddgems on March 12, 2021. It was a great session with an engaged audience. Just in case you missed it, we have the transcript available below.
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Oddgems: Welcome Everyone to the Boson Protocol AMA with Oddgems Family group. We have Justin Banon, Co-Founder/CEO of Boson Protocol here with us. It’s a huge pleasure and an honour for us to have you here once again.
JB: Hi everyone, Justin Banon here.
Oddgems: Nice to see you again Justin.
Everyone knows my interest in Boson and how excited I am for the upcoming public sale by the end of March or perhaps 1st week of April, so without further ado let’s begin with the questions.
JB: Let’s do it!!! Great to be back…
Oddgems — Question 1: For those that have never heard about Boson, can you help them with a short introduction, in layman terms, as to what Boson Protocol is and what problem it’s going to solve?
JB: Sure.Boson Protocol is a new foundational layer for Web3 designed to disrupt traditional commerce markets and allow buyers and sellers to exchange digital value for real-world products and services.
“Foundational layer” means “the plumbing of a construction site” that builders can work on top of. “Web3” is the new internet — powered by decentralized networks where people are not separated from the data and value they create, allowing for protocols that value privacy and self-sovereignty as first principles, not an afterthought.
Boson Protocol’s vision is to enable a decentralized commerce ecosystem by funding and enabling the development of a stack of specialist applications to disrupt, demonopolize and democratize commerce. Boson Protocol achieves this via an open tokenized economy of things which: automates the redemption of digital rights for physical assets using NFTs encoded with game theory.
Our technology disrupts legacy e-commerce platforms by tokenizing things and their data within a liquid digital market, built on DeFi.
Oddgems: “Foundational” as in any upcoming dCommerce project in the future can potentially leverage Bosons architecture?
JB: Exactly. We are not replacing a centralized whale with a decentralized whale, more with a decentralized swarm of specialized protocols and apps.
Oddgems — Wow, that’s gonna be a huge deal going forward!! 🔥
JB: Yes. first gen dCommerce protocols merely rebuilt platforms on top of blockchains, this is not all that disruptive. Tokenized ecosystems are the killer app for web3. we have seen this with DeFi.
Oddgems: Its like so many projects utilising oracles like LINK and BAND.. going forward for any dCommerce related project BOSON will be the go-to integration!! Epic. OK onto the next question..
Question 2: There must be a very robust dispute mechanism to tackle problems arising that too without any human arbitration, can you briefly explain the dispute mechanism?
JB: Sure, Commitment NFTs are powered by our core exchange mechanism which is a type of sequential game in which buyer and seller commit deposits up-front. In this way, both have skin in the game. Game rules and the final deposit transfer scheme are designed in a way that coordinates transactions and incentivizes parties to behave fairly.
Please see the core exchange mechanism here:
Oddgems: Just Awesome.
JB: There is an option for escaleted arbitration, but this is used in exceptional circumstances and its presence deters bad behaviour.There is an option for escaleted arbitration, but this is used in exceptional circumstances and its presence deters bad behaviour.
We have a world class algorithmic game theorist Dr. Akaki Mamageishvili further designing the core exchange mechanism to make the exchange of any type of good or service practical.
Oddgems: Wow, Dr. Akaki’s CV is really impressive!!
JB: Yes. We had him do an economic audit and he stayed and is doing live economic research on the mechanism and the game theory throughout the protocol. Working with other experts such as our chief architect Anish Mohammed. https://www.youtube.com/watch?v=cs9O_aPMeGg
Oddgems: Amazing!! Will definitely give this a watch! Onto the next question.
Question 3: As NFT gains more popularity Boson is in the right track to capture this growing market, so what are the plans to successfully market $BOSON and how will the token gain value?
JB: We’re working together with key players in the NFT art space to enable delivery of physical counterparts of NFT art. This will be one of the first verticals we target for the adoption of Boson Protocol. Gaming is also a huge vertical that we are interested in. We have joined the Blockchain Gaming Alliance and are in talks with game developers and decentralized virtual worlds. We want to enable avatars to trustlessly exchange value for real-world products and services.
$BOSON tokens accrue value from a minimally extractive fee for coordinating transactions and when third parties access data via the Boson Web3 data marketplace.
This enables Boson to unlock two planetary-scale value pools: A Global decentralized network for commerce transactions and a Global Web3 data store for commerce data.
We have a great team of Token Engineers, designing our value flows. Here’s one- Sebnem. https://twitter.com/BosonProtocol/status/1369743631100346373?s=20
Fundamentally, we are introducing the “dCommerce sustainability loop”, which powers the core Token utility and allows us to foster the dCommerce ecosystem with a constant stream of grants. This is going to be a massive open innovation experiment.
For more on the dCommerce Sustainability Loop, please see this:
https://medium.com/bosonprotocol/introducing-the-dcommerce-sustainability-loop-1d72026636d0
Oddgems: Quite interesting, one has to agree that it’s not that easy to understand the Boson’s core architecture but the entire Boson team have been doing an excellent job!! So let’s get to the next question.
Question 4: Boson is very close to public sale, the common questions which many would ask are..
- When public sale?
- On what exchange the sale will happen?
- What will be the ICO price?
- What are the lockups and vesting for early private-sale holders?
So what will be your answers for this?
JB: When public sale? Very soon — we’re releasing that information next week!
JB: - On what exchange the sale will happen? That also will be disclosed next week, please hold tight and we will let you know soon.
What I can say now is that our pre-registrations are now open. www.bosonprotocol.io/publicsale
(our servers got overloaded when we opened registrations earlier this week, but should be ok now)
JB: - What will be the ICO price? The starting price will be 0.75$ — a lot more information about tokenomics can be checked on our ONE PAGER: http://bit.ly/boson_protocol_one_pager
JB: - What are the lockups and vesting for early private-sale holders? Great question.
Oddgem: Amazing Long term lockups!
Additional information is coming soon on a post we’re going to make shortly, addressing frequently asked questions by the community.
We also encourage people to check out our current public sale page, where we have Token Allocation and Circulating supply schedule charts: www.bosonprotocol.io/publicsale
Oddgems: Question 5. Coming to Boson’s pre-registration — Most people would have already pre-registered themselves for the public sale, so what will be the next steps after that?
JB: We’ll be announcing key details on the whitelisting process, location and type of sale in the coming days. We want to ensure that all technical and legal details are in place in order to ensure a smooth and fair process for everyone.
It’s worth reinforcing that we’re taking all possible steps to ensure fairness and wide distribution of the tokens.
The pre-registration process is helping us determine the resources required in advance of the whitelisting and public offering. The best advice we can give is to sit tight as we share further information and if you haven’t yet, pre-register: www.bosonprotocol.io/publicsale
Oddgems: Got it Justin. Next Question. Question 6: Are you looking to further expand the team as the scope of the project is quite huge and team needs to expand as it grows down the line.
JB: Yes. We have hired almost three dozen new people in the past few months and continue to do so. Building Boson Protocol is an ambitious endeavor and onboarding the best people is the only way to do this. The team will continue to expand as well as the ecosystem. None of this can happen overnight and we have a lot of work ahead. If you’re reading this and you’re at the top of your game in Web3 development, please do get in touch.
Oddgems: Just WOW.
JB: Yup. I previously blitscaled a billion dollar pa revenue platform. Boson is on another scale altogether.
Oddgems: Question 7 — So far in the last one month itself there has been numerous partnerships that has happened, Bridge Mutual, Crucible Network, SwashApp, BitHolla, coinpass, Blockchain Game Alliance, Duck DAO, and many others. Can you briefly talk about them and how will they be helping in the growth of Boson’s ecosystem?
JB: Sure. I have had to download the Docusign app onto my phone to keep up with the flood of partnerships. It's crazy!
We’re really delighted at the way the market is reacting to Boson Protocol. Our vision of creating a world where dCommerce is part of the natural order aligns well with a variety of ecosystem partners. Whether it’s gaming, NFT art, metaverse platforms, exchanges or dCommerce marketplaces, all of the partners share the belief that Web3 requires a different way of looking at commerce, data, insurance and the way that value is perceived and exchanged.
Boson Protocol is not a platform itself, so it relies on partnerships and collaboration with ecosystem partners. We’re doing the groundwork with some amazing ecosystem partners to build the foundation of dCommerce.
Oddgems: Question 8 — Boson got selected in Coinlist’s Seed Winter 2021 Batch, tbh it’s a great achievement as Coinlist has an amazing ICO track record so far, the likes of Solana, Flow, Celo, Near, Algorand, Ocean, Origin, Filecoin, Nervos, Kadena to name a few, so, Will the token sale also happen on Coinlist?
JB: We’re going to announce the sale platform in the coming days. What I can say is that we are optimising to be: open, fair and compliant.
Two more questions, and then live session will start
Oddgems: Question 9 — For now the Github isn’t public and people are eager to look at the development work that’s been going on for so many months. When will Github repository be made public?
JB: Well we believe in open source and are going to be opening our repos very soon and are doing a lot to engage the developer community via some super exciting research initiatives and hackathons.
We just past smart contract audit and will be sharing repos in a few weeks.
Oddgems: Question 10 — We haven’t seen any smart contract Audits so far, is Boson planning on doing an official contract audit. If Yes, then any tentative date for that?
JB: Yes we went through a contract audit performed by CertiK. Report will be published in the coming weeks. We have a super-high standard to everything we do.
Awesome, that’s great! Ok, that’s it from my side, Now the channel will be unmuted and it’s the community’s turn to ask any other questions they wish and @JustinBanon or @Brunoahualli will answer them :)
Community question 1: Black Mamba — Don’t you think 0.75$ per boson is over valued? I get it, it’s the bull market. So price is OK ! But that makes the fully Diluted Valuation of Boson to 150 Million !! Which is huge! Any comments?
Oddgems: The fully diluted mcap is only 150m — and as things stand its cheap as what they’re trying to achieve :)
JB: I think you need to think of the scale of the opportunity — ecommerce is a multi-trillion dollar market, and the funds required to disrupt this- we will be funding and and building a dComemerce ecosystem. So we are not a Dapp or niche protocol- we are going after a huge slice of the economy, Having built a billion dollar revenue platform, I know what it takes to do this.
Community question 2: Wilfred Deterville — Just wanted to know which countries can participate
JB: We have list which we will publish soon. US is excluded for sure.
Justin Banon,
As I mentioned, we will be releasing full details next week. We have gone for an accessible, fair and compliant solution. However, it is inevitable that people will be disappointed because demand is exceeding supply by about 60x. We will do our best.
Community question 3: David — Roadmap says: Q4 2021: DeFi DEX + CeFi Rewards — Can you elaborate further on this?
JB: Sure. I previously built a billion dollar platform which provided products and services to customers such as Mastercard, AmEx and visa as digital vouchers. Boson enables crypto credit cards, DEXs and CEXs to offer their customers crypto native rewards as NFTs. Here is an app building on Boson https://www.niftykey.com/
Community Question 4: Alex Hunter — A bit off topic but As an Imperial student I first learnt of BOSON from my physics lecturer mentioning it when talking about crypto. Any plans to perhaps do a talk at Imperial once the pandemic ends? Great to see Imperial Alumni doing great things by the way
JB: Well the last live talk I did was ETHLondon at Imperial. I would love to go back an do another talk post COVID. I also know all the local pubs, so will buy you a beer afterwards!
Community Questin 5: Capt_Star1 — How can users stay updated with this project? Are there channels, including local communities where users can get the latest updates?
JB: Here are the main channels and sources of information:
Website: https://www.bosonprotocol.io/
Twitter: http://www.twitter.com/BosonProtocol
Whitepaper: https://t.co/pPapPJVEA3
Telegram: https://t.me/BosonProtocol
Medium: https://medium.com/bosonprotocol
Oddgems: And with that my friends, we conclude this AMA!
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