Boson Protocol x Satoshi Club AMA Recap from 17th of November
Hello, Satoshi clubbers! Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Boson Protocol and our guest was @JustinBanon. The AMA took place on 17 November. The AMA session was divided into 3 parts with a total crypto reward pool of 500$
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Telegram community
Gold Rocket | Satoshi Club: Hello again, dear Satoshi Club community! We are pleased to announce AMA with Boson.😊
Andrés M. | Satoshi Club: [ 😃 Sticker ]
Gold Rocket | Satoshi Club: Today our guest is @JustinBanon😊
Justin Banon: Hello everyone, thanks for having me
Andrés M. | Satoshi Club: Welcome to Satoshi Club https://t.me/JustinBanon, we are glad to have you here.
Gold Rocket | Satoshi Club: Nice to e-meet you Justin😊
How are you doing?😃
Justin Banon: Very well, excited for Boson Forum tomorrow!
Gold Rocket | Satoshi Club: Yeah… We also really excited about upcoming AMA with you😊
please tell us more about it
Andrés M. | Satoshi Club: Yes, please give us a short introduction about you
Justin Banon: Boson Forum is our inaugural event launching Boson Portal, which is launching tomorrow at 12:30pm UTC in Decentraland. Please check out bosonportal.io
We will be bringing together a number of thought leaders from the Metaverse industry, it will be a great event!
Gold Rocket | Satoshi Club: Probably your team does not sleep day or night😁🔥🔥🔥
Andrés M. | Satoshi Club: Checking it 👍
Could you explain us the concept of Metaverse industry? That’s something very innovative
Gold Rocket | Satoshi Club: we would like to know more about your team. Who is on the project team core?
Justin Banon: Well, I am one of the founders of Boson Protocol. I previously built a billion dollar web2 platform in the rewards space before discovering Web3 and falling down the rabbit hole. Since then I discovered how this technology can be used to democratise and disrupt Web2 eCommerce, and now here I am!
Gold Rocket | Satoshi Club: Wow! You know how to build a successful business and feel the crypto trends
Andrés M. | Satoshi Club: Amazing background👏
Justin Banon: The metaverse is a persistent immersive digital universe. You can think of it as a digital reality that runs alongside our physical reality. The concept is in the process of being built by a number of people and projects to make this a reality. We believe in an open metaverse that is free from corporations and open to everyone.
We’ve now got 60 of the best people in Web3, across legal governance and engineering. There are too many too name, but there are 8 PhDs working on the core and probably the best marketing team in the industry helping us explain this to everyone
Gold Rocket | Satoshi Club: Is your team anonymous?
Justin Banon: Not at all, you can find most of them on LinkedIn
Andrés M. | Satoshi Club: Metaverse and decentralization, perfect blend
Justin Banon: A couple of key names would be Gregor Borosa, our technical co-founder, Matt Law Head of Strategy and Dr Akaki Mamageishvili, probably the best algorithmic game theorist in the world
Gold Rocket | Satoshi Club: Thanks for great introduction, we will have several questions selected for the Part 1. Ready to start?
Justin Banon: Ready Player 1, let’s do this 🙂
Q1 from Telegram User @DK177
It caught my attention that you have launched a grant program with plenty of options. I read the details on Medium and accessed the form too. My question is, how do you monitor the user after processing the grant? In other words, how do you know whether the grant was fruitful? Do you release the total amount of the grant at once? Is there a process of submitting progress reports?
Justin Banon: That is a great question, the successful Grants applicants will have some defined deliverables and funds will be released in tranches based on goals achieved. We won’t be releasing all of the capital to projects right away. Their success is our success, and we will be working closely with them to help as much as possible.
Andrés M. | Satoshi Club: Then, how is your project financed? How you collect funds? Through fees?
Justin Banon: We raised $36m initially through various private rounds and our public sale back in April, so that has set us up very well to be able to succeed moving forward. The protocol itself will take a minimally extractive fee, from a potentially huge multi-trillion dollar market, that will go back into the foundation to help fund future development
Gold Rocket | Satoshi Club: Thanks for your answers. Do you want to add something or can we proceed to the next question?
Justin Banon: I think we’re good to go for the next question 🙂
Q2 from Telegram User @Cheriemike
Boson Protocol recently had a LAND purchase in Decentraland where you’re building Portal; a virtual lifestyle, commerce and cultural playground which seamlessly connects the metaverse with the universe. Knowing that metaverses can prove to be a daunting experiences, do you have a guide for users to use in your Portal? How will users of Boston Protocol take part in these Metaverse? Thanks
Justin Banon: We chose to start in Decentraland as it one of the original metaverse and very intuitive to join. You don’t need to have any crypto in your wallet to get into Portal or participate in Qube. We also have a guide on our Medium page medium.com/bosonprotocol
Gold Rocket | Satoshi Club: It’s really make a sense
Justin Banon: And don’t forget that tomorrow we will be LIVE in Portal (in Decentraland), and there will be plenty of our team and community present to help you out with any questions 🙂
Coordinates will be shared on our Twitter, twitter.com/bosonprotocol — don’t forget to follow us!
Andrés M. | Satoshi Club: Which wallets are compatible?
Amazing event coming, we will be there for sure, thanks for the invitation
Gold Rocket | Satoshi Club: this is very exciting😁
Justin Banon: MetaMask is your best bet, but I think there a couple of others. Drop into Decentraland to find out 😉
Andrés M. | Satoshi Club: For sure. Btw, what are the main adventages you offer for long term holders?
Give us good reasons to hodl😁
Justin Banon: The vision of Boson Protocol is to be the decentralised protocol on which the future of commerce will run. We see a future where there are foundational primitives for money, file storage etc. And we see Boson as the foundational primitive for commerce.
$BOSON will be used for Staking, incentivisation and governance
Gold Rocket | Satoshi Club: Thanks for your answers
Let’s proceed to the next question😊
Andrés M. | Satoshi Club: Important features, staking is my favorite one btw😃
Justin Banon: Sounds good! Great questions so far
I am very impressed with your community 😀
Andrés M. | Satoshi Club: Well, here’s another amazing question.
Q3 from Telegram User @Pavel_Jarosh
The primary use case for Boson Protocol is Online commerce — an open digital marketplace where any thing can be offered, searched and exchanged with minimized trust and cost. In this case, please explain if the solution is targetted to P2P trading or you are planning to add some large world retailers to Boson online commerce chain? Can it bring a lower prices compared to physical stores? How will the customer care be supported? Thank you!
Justin Banon: Boson Protocol itself is a protocol on which other parties can build applications for commerce, we facilitate this through our smart contract based exchange protocol, with some game theory sprinkled on top for good measure. Portal is a showcase of our Protocol, but not our end product. So we are not building a marketplace, but the infrastructure to support marketplaces. The protocol resolves disputes between buyer and seller, allowing for a trust minimised transaction
We are in talks with a number of large brands to get them onto our protocol and recently presented at WebSummit in Lisbon with ASICS too. Big things are ahead!
Gold Rocket | Satoshi Club: Excellent clarification
Andrés M. | Satoshi Club: Please show us your roadmap, we want to check the coming events of the project
Justin Banon: Hold the line, let me just grab that for you 🙂
I will share the roadmap after this, if that’s OK?
Let’s proceed to the next question please 🙂
Andrés M. | Satoshi Club: You are the boss
Gold Rocket | Satoshi Club: Of course 💗
Q4 from Telegram User @Highpee
On 19th November, you will be unveiling the Qube quest event to celebrate the launch of Boson Portal. Can you introduce the Qube event to us and how users will be engaged in the event gameplay? How does Proof-of-Attendance-Protocol (POAP) work and how will you use it to draw random users that will emerge as winners during the multiple seasons of gameplay? How many seasons will Qube last and what are the tasks to be completed as well as their difficulty level? How can users complete these tasks in record time in order to have a chance of emerging as winners?
Justin Banon: Qube is a game inside the Portal DCL environment. By participating in the game players get a chance to win $BOSON. When you complete the Qube during an event you will receive a proof-of-attendence patch, which will qualify you for the draw.
You will learn much more about Qube once it launches, don’t want to spoiler 😉
We take security very seriously, conducting a total of 3 smart contract audits for the Boson Protocol v1 that were deployed on mainnet about a week ago.
Stay tuned for more Boson hackathons in the future. Our engineering team participated in layer 2 hackathons in the past, where they build a chross chain stock management solution.
Gold Rocket | Satoshi Club: thanks for the responsible attitude to this issue
Andrés M. | Satoshi Club: We are glad to know you care a lot about the security, great job👏
Q5 from Telegram User @JesusFre1tes
I read that The Boson Protocol exchange mechanism allows anyone to exchange physical commodities for value on the blockchain by tokenizing an exchange commitment as NFT. Can you give us more details on how this exchange model works? The exchange is based on a 1:1 ratio? What types of physical commodities are supported within Boson for this exchange? Thank you!
Justin Banon: Thanks for the question. Boson Protocol enables the exchange of on-chain value for physical goods. The exchange mechanism works by taking a commitment from both buyer and seller, in the form of deposits and payment. This commitment to exchange is then tokenized as an NFT Vouchers. If one party breaks their commitment they will be punished, losing some of their deposit, ensuring that both parties behave honestly. A lot of different physical commodities are viable on Boson Protocol, for instance in Portal we’re gonna sell high end fashion product. v2 of the protocol will support a range of physical product types, as well as services, enabling endless possibilities of merging the digital and physical world.
Andrés M. | Satoshi Club: Perfect explanation about how the system works, btw, do you have any KYC system to join the platform?
Justin Banon: Depending on the jurisdiction the sale of high value physical products requires a KYC process. This doesn’t need to be added to the protocol, but can happen off-chain. For now we have no need for KYC providers, but we will integrate them into future marketplaces.
Besides legal requirements we are looking into decentralized reputation and identity solutions to give more trust to users.
Q6 from Telegram User @Emidm28
One of your products, Boson Portal will enable users to buy physical products as NFTs and receive them at home or collect them in-store. The Boson Portal launch will be on November 18, 2021. Will there be promotional campaigns available to users on launch day? Will there be free access for all users who want to be part of the launch? Will there be any surprises on launch day? What are the steps we must follow if we want to be part of the Bolson Portal launch?
Justin Banon: On launch day Portal will be accessible to everybody. We will not reveal more for now… If you join Boson Forum tomorrow you will be among the first community members to find out!
One thing I can reveal, tomorrow there will be a guestbook you can sign, for a chance to win $BOSON
Andrés M. | Satoshi Club: We understand, thanks for the sneak peek.
Gold Rocket | Satoshi Club: looking forward to it 🔥🔥🔥
Andrés M. | Satoshi Club: And thank you so much @JustinBanon for your complete and clear answers in this first part of the AMA, definitely you have an innovative and exciting project, congratulations for you and your team 👏👏
Now is time to interact directly with our dear community in the live segment of the AMA😁
Justin Banon: 10,000 BOSON!
Gold Rocket | Satoshi Club: Wow!!!
Andrés M. | Satoshi Club: Amazing 😱
Part 2 — live questions from the Telegram community
Q1. from telegram username @siminiciuc
Is boson just for nft and luxury and art?
Justin Banon: Definitely not! But NFT, luxury and art are a good start, as we see a lot of demand there
Q2. from telegram username@Rakshitx5
I read there are job openings in Boson Protocol. Can you tell me how can I contact Boson Protocol for the Job?
Justin Banon: Go to our Greenhouse and apply, we’re always looking for great talent! Boards.greenhouse.io/bosonprotocol
Q3. from telegram username@alptrader
Do you plan to add new liquidity pools and extend the blockchains on to your token support?
Justin Banon: Yes. We have a liquidity rewards program in the works
Q4. from telegram username@Kazmi11
Partnerships you guys made already is already big and promising, but is it done now or are you guys planning to partner with even more big names ??
Justin Banon: More names are coming
Q5. from telegram username@Robotliker1
What do you think if Amazon use your tech and do you have any partnership done?
Justin Banon: We’re disrupting Amazon, no need for them to use our tech 🙂
Q6. from telegram username@rosary_23
Is Community are Important for the BOSON , Are they allowed to Vote and Give Suggestions To makes this platform Better , Does you Support the Decentralised Governance ?
Justin Banon: Yes. We’re following progressive decentralisation and our first voting module will launch soon
Q7. from telegram username @messilolz
Is $BOSON listed already or.not in cmc amd gecko?where can I find token information more?
Justin Banon: We are on a number of exchanges, including KuCoin, Bitfinex, Bittrex and Crypto.com. You can search BOSON on CMC and Coingecko 🙂
Q8. from telegram username @Kazmi11
In twitter Post , I read that the First Full Confrence in the Metaverse — BOSON FORUM takes place this Thursday on 18th November , Will You please Give me More details Regarding this and To Participate , What Steps I should follow ?
Justin Banon: If you follow us on Twitter twitter.com/bosonprotocol all of the details are being shared on there! 🔥
Q9. from telegram username@syedwasialishah
In terms of Security, What work has been or planned from the following?
1- Have You gone to through any Audits yet?
2- Have You Partnered with 3rd party Security Companies?
3- Do You plan to bring big Bounty Program for the community?❤️
Justin Banon: Yes, yes and yes!
Q10. from telegram username@isabella_blackk
Today, Facebook (became Meta) and Microsoft are taking innovations and steps in the metaverse, what do you think is the reason why they took these steps? What does the Boson Protocol do to create a decentralized trading world on the Metaverse?
Justin Banon: I think this is fear based, the decentralised community will not allow them to capture people’s data and they don’t want a completely free and open metaverse. We stand for a free and open metaverse operating system that is there for the many, not the few. Boson Protocol will enable commerce within this environment.
Part 3 — Quiz Results
As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.
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