How to participate in the $BOSON token distribution
By: Boson Protocol
Tags: Ido, Web3, Blockchain, Crypto, Dcommerce

SECURITY NOTICE:

The $BOSON token contract address is: 0xC477D038d5420C6A9e0b031712f61c5120090de9

The official auction, on the Gnosis Auction platform is the only place you can acquire $BOSON tokens — all other offers will be fraudulent! —

Here is the direct link to the auction:

https://gnosis-auction.eth.link/#/auction?auctionId=13&chainId=1#topAnchor

No $BOSON will be available to purchase from any exchange (CEX or DEX) before Friday 9th April

No admin will ever contact you on Telegram or any other platform to request information or funds from you

Please, stay alert.

Summary

6 million $BOSON tokens are being made available to purchase on Wednesday 7th April 2021.

The starting price for the sale is 0.75 USD per token

The only valid currency for the sale is USDT

Our token sale is planned to start at 8am UTC on Wednesday 7th April, and will run for 48 hours until 8am UTC on Friday 9th April

Bidders can offer to buy $BOSON tokens at any time in the 48 hour period

The Token unlock will happen before 5pm UTC, Fri 9th April

Only whitelisted participants will be able to bid. The whitelisting process is now closed with over 30,000 bidders cleared to participate in the sale

How to participate in the auction

Security considerations

Bear in mind that Gnosis Auction is a decentralized platform and you must be careful to participate in the correct auction.

There are ALWAYS scammers surrounding token sales, and you may be being targeted.

Always ensure you are interacting with the correct $BOSON token at: 0xC477D038d5420C6A9e0b031712f61c5120090de9

If in doubt check the pinned message in the Telegram chat, or the banner across the Boson Protocol website.

Why an auction, and rational bidding strategies

The $BOSON token distribution is enabling fair price discovery for the $BOSON token. The aim is to make it easy to discover a fair price for their token through the format of a batch auction, where everyone can determine what they believe the appropriate price to be, and either receive their tokens at or below that price, or their original funds back.

In this form of token offering, we are asking the community to set the price of the $BOSON token, based on the collected desire to own the asset, and be part of the ecosystem as it grows.

Our aim is to avoid an exclusionary process, where only a limited number of people can participate, either by a lottery, or by first-come-first-served mechanics.

Instead, we are creating a set time period, where anyone can bid to acquire $BOSON tokens, at a price that is acceptable to them.

Our recommendation is to choose a price you believe to be acceptable, make a bid at that level, and wait until the end of the auction to receive your tokens.

Please note bids can be cancelled for the first 24 hours, but during the final 24 hours, all bids are final

Step by step guide:

Connect Wallet

First, you need to connect your wallet to the platform. On the top right corner, you can find the button that will allow you to connect your wallet to the Gnosis Auction dapp.

2. A popup will appear where you will be prompted a list of available wallets that you can connect to the dapp. Select the wallet type you would like to connect to the Gnosis Auction dapp.

3. After selecting the wallet, in this case Metamask, a Connect Request will appear. In the case of Metamask, you would need to pick what account (Address) you would like to connect with, and click “Next”.

4. Once you have selected the account you want to use, click “Connect”.

Selecting Auctions

5. After all these steps, you have now successfully connected to the Gnosis Auction dapp. From the UI you will be able to differentiate between two sections. The top section of the UI shows the highlighted Auctions that are taking place, while the bottom section of the UI will show us the full list of Auctions that are taking place or have taken place in the platform.

If you want to participate in one auction that is in the highlighted section, you just have to click anywhere in the box and you will be redirected to the auction.

If you want to participate in one auction, that is the all auction section, you have to click in the “view” button and you will be redirected to the auction.

6. If you want to participate in an auction, either select one auction from the highlighted auctions section or select one auction from the dropdown list. In this case, you have selected an auction from the highlighted auction section.

Bidding in an Auction

7. After you have decided the auction you want to participate in, and click on it, you are redirected to the screen below (Keep in mind that the data shown in the below picture will vary for each auction, as all the auctions taking place are independent of each other). The UI can be dissected in two parts, the left side and the right side:

On the left side you have data about the ongoing auction, as well as the price graph.

On the right hand side you can see the parameters you need to fill in to place an order in the auction.

8. In the amount section you would need to input the amount of bidding tokens you are willing to bid in the auction. You can either select the amount you want to bid or directly use the max button to bid all the tokens you have.

9. In the price per bid-token/auction token, the dapp sets by default the price that the auctioneers have set to be the minimum price. From that starting price, you can decide what is the price per bid-token/auction token you are willing to offer.

10. If it is the first time that you have used that token to bid, you will have to approve the contract to spend that token. First click on the “Approve” button, and then confirm the transaction on Metamask, as shown below.

11. After you have set both the amount of tokens to bid, and the price per bid-token/auction token, you no longer see the enter amount section, instead you see a colored bar with the words “Place Order”. Once you are sure about the parameters you have inputted you have to click on “place order” to include your bid in the auction.

12. Once you have clicked on “Place Order”, a confirmation popup will appear that will ask you to confirm the order. As you can see in the image below, the dapp confirmation shows the relevant information of your bid order.

13. After you have clicked on “Confirm Order”, your wallet will trigger a popup for confirming the transaction. In this case, the Metamask popup will appear asking you to confirm the execution of the transaction from your wallet interface.

14. Once the Metamask order has been confirmed, and the transaction has been mined into a block, on the right hand side of the dapp you will see a banner with the price details of your bidding order, and a link to Etherscan so that you can check your transaction details.

Congratulations, you have now learned how to successfully participate as a bidder in a Gnosis Auction.

Frequently Asked Questions

I have not submitted KYC, can I get on the whitelist?

Unfortunately, pre-registering with KYC is required for the $BOSON token distribution. Whitelisting closed on Thursday 1st April. It is not possible to submit KYC any more. It is anticipated that tokens will be available to purchase after the token distribution.

What is the anticipated ETH gas fees to make a bid?

Assuming gas price of around 150 gwei, we anticipate the full process, or bidding, and then withdrawing your tokens at the end of the auction will cost around $50–60 in ETH.

Is mobile supported?

The Gnosis Auction platform requires a screen resolution of at least 1024x768 pixels to render correctly. If your screen is lower resolution than that you will not be able to access the auction pages. Please use a desktop browser for best experience.

There is no time requirement to bid first or fast, so please find a time that works for you over the 48 hour auction period to make a bid.

Can I edit or cancel bids?

The auction lasts for 48 hours. In the first 24 hours bids can be cancelled, however, in the last 24 hours all bids become final, and any new bid can also not be cancelled. This is to reduce the likelihood of malicious bidders removing their bids at the last minute.

How long is the auction open for?

The auction will run for 48 hours from Wednesday 7th to Friday 9th April.

You can make a bid at any time during the auction period, there is no need to rush to bid early, or wait until the last moments of the auction.

Can I place multiple bids?

Yes you can place as many bids as you wish, though please bear in mind that transaction fees can be high, and it makes sense to make the fewest number of bids that works for your strategy

When is the token distribution?

Tokens purchased during the public auction will be unlocked on Friday 9th April, after the auction closes. There will be a slight delay while the auction is finalised, but we anticipate tokens to be able to be withdrawn within a few hours of the auction finishing.

How can I confirm if my address is whitelisted?

You will have received confirmation email from either Blockpass or Fractal. Unfortunately if you have not received confirmation by end of day Tuesday 6th April, you will not be able to participate in the public sale.

What currencies can I participate with?

We are selling $BOSON tokens in exchange for USDT in this public sale.

What are the min/max bids?

There are no minimum or maximum bids in the sale. Instead you commit a certain amount of USDT and state a maximum price you are prepared to pay for the $BOSON tokens. You will not pay more, and may pay less per token, depending on the final auction clearing price.

Please also note the transaction costs for making a bid will be in the $50–60 range, so it is not advisable to make bids that are too small, as the relative cost of the gas on Ethereum will not make the bid economical.

When will $BOSON be available on secondary markets / exchanges?

We cannot provide any information about secondary trading at this time.

Is there a Uniswap pool?

We cannot provide any information about secondary markets at this time.

Will you be providing any initial liquidity to Decentralized exchanges?

We cannot provide any information about secondary trading at this time.

What is the vesting unlock schedule? Dates/times?

We have previously published information about the unlock schedule in our One Pager

Boson Protocol Vesting Schedule

The first tranche of private sale and pre-sale tokens will be unlocked after the public sale tokens are released.

Token Release Schedule

What are the various vesting wallet addresses?

The $BOSON token is on Etherscan here:

https://etherscan.io/token/0xC477D038d5420C6A9e0b031712f61c5120090de9

Over the coming days we will be finalising the setup process, and all wallets will be visible there.

When will BOSON be on Delta, Blockfolio, Coingecko, CoinMarketCap?

We expect the crypto tracking sites and services to register and provide information about the $BOSON token.

Is there a staking program or yield farming program?

Please stay tuned for more information.

Will $BOSON always be ERC20 or will there be a mainnet?

We are launching Boson Protocol on the Ethereum network. Over time there will be bridges and interoperability to other networks, but the Protocol will be fully functional on Ethereum first.

How will I know if I was successful in the auction?

Please visit the auction site after the end of the auction and connect your wallet to the smart contract to either withdraw your $BOSON or reclaim your bidding tokens.

How do I claim my unspent funds and or tokens from the auction?

After the auction concludes all bidders will be able to either reclaim their bidding tokens, in the event of an unsuccessful bid, or to withdraw their $BOSON tokens in the event of a successful bid. We expect this will be possible on Friday

Wouldn’t there be gas wars near the end of the auction? Why wouldn’t you wait until the very end to bid?

The final clearing price will be clearer towards the end of the auction, and it may seem better to wait to see. However, the risk is that the network becomes congested near the end of auction and your bid may not be recognised.

Our suggestion is that all bidders make a personal evaluation of the $BOSON token and make their bid at the price they believe is fair, whenever is convenient to them.

Is there a trading group?

There may be community trading groups set up, but we are not recommending any speculative activity on the $BOSON token.

My number of tokens is less than it should be?

When you receive tokens after the sale, assuming you have made a bid higher than the auction clearing price, the correct calculation for the number of tokens you receive is

Amount of capital committed / auction clearing price = your tokens

Example:

100 USDT committed / 0.75 clearing price = 133.33… $BOSON tokens

I can’t see my tokens in my wallet?

You may need to register a ‘custom token’ with your wallet provider using the $BOSON token address, and the number of decimals

Token address: 0xC477D038d5420C6A9e0b031712f61c5120090de9

Decimals: 18

About Boson Protocol

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.

Keen to learn more?

Enjoy our Lightpaper.

In a hurry?

Check out our One Pager.

Want to dive deeper?

Read our whitepaper.

Builders, we have news for you:

Our Core Repo is open on GitHub and here’s the Documentation website.

Lastly, if you’re a decentralization enthusiast, please follow us here, on Medium. We will post frequently about our dCommerce journey and would love to hear your comments!

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