Boson Protocol's Extended Tokenomics Information
By: Boson Protocol
Tags: Tokenomics, Web3, Blockchain, Crypto, Dcommerce

On March 8th (Monday last week), we have opened the pre-registration form for our public token distribution, which is planned to take place very soon.

We are thrilled with the overwhelming response — and incredibly honored to have so many decentralization enthusiasts with us on this journey.

You can still pre-register here:

https://www.bosonprotocol.io/publicsale

We have also released this One Pager

In addition to the incredible support from our community, we also received several questions, which we address in this post.

This post covers:

A quick Boson Protocol intro

A short description of the token utility

Tokenomics

Fundraising events thus far (and their pricing)

Public sale event details

What is Boson Protocol

Boson Protocol automates digital to physical redemptions using NFTs encoded with game theory.

Powerful e-commerce platforms have captured the market. These monolithic intermediaries extract excess value. They claim to value customer-centricity when what they are really doing is hoarding data and separating people from the value they create.

What is needed is a way to execute commerce transactions trustlessly with minimized human intermediaries or arbitrators.

Our core technology disrupts e-commerce platforms by tokenizing real-world products and services and commerce data within a liquid digital market, powered by DeFi infrastructure. We call this decentralized autonomous commerce.

You can read more about our approach in our Light Paper

The $BOSON Token

The $BOSON token is the core economic unit of the Boson ecosystem. Growth in the value of the token is driven by establishing an economic flywheel, following the dCommerce sustainability loop.

The dCommerce DAO will fund projects that build core Boson Protocol software, applications, tools and integrations, as well as ensuring the growth of the ecosystem via temporary growth policies, such as supply and demand farming.

Revenue generation from projects and initiatives is funnelled back into the DAO, with a fraction of all revenue being used to buy and burn $BOSON. To get the “economic flyweel” going, part of the “network rewards fund” (see below) is used to fund the dCommerce DAO until it is self sustaining.

The perpetual funding of the dCommerce DAO is ensured through a minimally extractive fee on transaction coordination and data monetization facilitated by the boson protocol. $BOSON token holders will govern the dCommmerce DAO. For more info see our Governance design principles and $BOSON ecosystem value flows articles.

The dCommerce Sustainability Loop

About Tokenomics

Tokenomics is an important subject within the world of crypto and currently carries different meanings for different people. Some view it as “the study of how cryptocurrencies work within the broader ecosystem”, while others see it through a more narrow prism, as “the understanding of the supply and demand characteristics of a given cryptoasset”.

While we subscribe to the broader definition and believe Tokenomics to be one of the critical foundations for the success or failure of a token and ultimately the ecosystem that it powers, this post focuses specifically on the supply distribution and allocation aspects of boson tokenomics that cater to our broader community.

Community token distribution

Over the next few weeks we will conduct our public token distribution. In this distribution we will make 6 million $BOSON tokens available for sale, which will become immediately available for use by our token holders.

Our token contract has not yet been made public, but has been audited by security firm Certik, and passed. Ahead of the public token distribution we will publish the contract addresses, developer documentation, and open source the contract repositories.

Overview of token holders and users in our ecosystem

Within our token ecosystem we have a number of participants that are being rewarded for fulfilling essential roles. This table outlines the high level breakdown, and these roles are explained further below:

Early supporters and investors

To date around $10million USD have been raised to fund the development of Boson Protocol. This was initially as an equity investment into Redeemeum UK Ltd, which was founded in 2019, and then during 2020 via agreements for tokens to be delivered after the network launch. More details on the token buyers, vesting and token prices are outlined later in this post.

Founders and team

The Boson Protocol team are incentivised to deliver long term for the project. Team tokens vest over a 4.5 year period, with an initial six month cliff, which will take the project beyond the first reference implementations and into the planned adoption phase before token rewards are made.

Our founders Justin Banon and Gregor Borosa started working together on Boson in early 2019, and have together been focused on this project for nearly two years. In addition, there are now 34 staff in a primarily remote and distributed organisation, across Europe, North America and Asia. This allocation of tokens ensures the continued delivery and stability of the core team for years to come.

Advisors

Our Advisors are playing an essential role in developing Boson. We consider ourselves lucky to have some of the greats in web3 supporting us in turning the vision of decentralized Commerce into a reality. This pool of incredible talent consists of Token Engineers, web3 founders, legal experts, product owners, as well as future advisors that will support the development of a thriving dCommerce ecosystem

Our advisor team includes thought leaders in academia and accomplished practitioners in Blockchain and beyond. We’re honored to be able to count on their extraordinary capabilities and to have them as valuable allies in the quest for the decentralization of commerce.

Network and ecosystem rewards

To fund the wider development of Boson Protocol through its journey of progressive decentralization as outlined in [governance post] and the continued development of the dCommerce stack, we reserved 43.4% of boson tokens for Network rewards and ecosystem development. This will allow us to have a pool for long term sustainable funding.

Vesting table

Our philosophy is around incentivising network participants for long term alignment with the development of the ecosystem.

Token release schedule

At the day of our initial token distribution, there will be approximately 8.11% of tokens in circulation (16,222,934 $BOSON tokens).

Previous token fundraising rounds

Public token distribution timings

We are planning to make the public token distribution within the next four weeks, subject to market conditions. More details of the sale process for community will be made available shortly.

Interested participants should pre-register on the Boson Protocol website: bosonprotocol.io/publicsale

The next stage is that we will open a KYC/AML “whitelisting” process in the coming days.

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? Read our Lightpaper:

https://docsend.com/view/p7g9u8d8wiwnf9jn

In a hurry? Check out our One Pager:

https://assets.website-files.com/5fa40658a63ff659399bba09/60511aa6d05330bf55b03989_160321_Boson_OnePager.pdf

Want to dive deeper? Read our whitepaper.

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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