Boson Protocol (BOSON) is a decentralized infrastructure for e-commerce transactions. The ecosystem enables the exchange of digital value for real-world products and services through the use of tokenized futures contracts. Commitments to buy and sell physical assets are represented on the platform as non-fungible tokens (NFTs).
In this article, we will discuss:
What is Boson Protocol (BOSON)?
Boson Protocol is a capture-resistant decentralized autonomous commerce (dCommerce) ecosystem that automates digital-to-physical redemptions. Using non-fungible tokens (NFTs) encoded with gamified dynamics, Boson is a “fundamental Web3 primitive” that leverages “planetary-scale value sets”. The platform provides public infrastructure that uses smart contracts to coordinate business transactions and exchange digital value for physical goods and services.
Boson Protocol minimizes arbitration and costs to provide a trusted Web3 commerce marketplace for consumer data. The Boson Protocol marketplace facilitates the exchange and monetization of secure Web3 consumer demographics and product preferences. Connecting the real world with the metaverse, Boson Protocol aims to revolutionize traditional e-commerce platforms. This is possible by tokenizing products and services along with relevant data in blockchain as non-fungible tokens (NFTs). Combining NFTs and game theory incentives, Boson Protocol envisions a decentralized commerce ecosystem accelerated by blockchain-based applications.
These apps aim to disrupt and democratize commerce while removing unnecessary middlemen. In turn, this creates a more equitable platform for retailers, brands and service providers, while delivering value to consumers. This is achieved by reducing fees and friction, while providing a comprehensive trading interface. Additionally, users can buy and sell products and services that are tokenized as futures contracts, represented by NFT “commitment tokens”. Each pledge token represents a specific item, good or service and the pledge to purchase it using a dedicated token known as a “Thing token”.
How does Boson Protocol (BOSON) work?
Boson Protocol (BOSON) seeks not only to introduce decentralized technology into e-commerce, but also to create an open and tokenized economy. The protocol features ERC-20 “Thing” tokens, which are used to purchase specific, commitment, and fungible tokens on the platform. Thing tokens are transferable and traded using common DeFi tools and help create liquidity in digital markets for the corresponding physical assets.
The Boson Protocol advocates secure collection and privacy preservation of e-commerce data and encourages users by offering monetary benefits in exchange for voluntary data sharing. The platform uses the Ocean Protocol to build a Web 3.0 trade data marketplace. that will help information buyers gain insights into consumer behavior and perform in-depth analysis of your business strategy. Boson's main engine was designed using concepts from game theory with the aim of encouraging honest behavior among the participants involved in the negotiation. Built as a sequential game type, it has a two-sided deposit structure, which automates dispute resolution and reduces reversal losses.
The platform is built to be community-owned, and strives to ensure fair distribution of control and value. There are three stages to the evolution of platform governance: startup, scale-up, and decentralized autonomous organization (DAO). In the startup phase, Boson will have centralized control to adjust the protocol to the market. At scale-up, he will charge minimal extraction fees to further develop the project. Finally, it will be decentralized to establish a DAO and achieve fully community-led governance.
Boson Protocol Technology
Boson's core engine is effectively a sequential game. Buyers and Sellers make coordinated deposits to encourage all participants to act fairly. The “Open Thing Economy” presented by the Boson Protocol is built on a foundation of many specialized and combinable dCommerce applications.
These blockchain-based applications provide access to a growing library of developer tools and reference applications for real-world redemptions. This includes a decentralized marketplace for things as well as a decentralized autonomous organization known as the Boson Protocol dCommerce DAO.
dCommerce DAO
The Boson Protocol dCommerce DAO aims to be a fully community-governed DAO to fund the expansion of the dCommerce ecosystem. It is based on the “Web3 Sustainability Loop”, which is a model for the sustainable growth of Web3 projects developed by Ocean Protocol. The Boson Protocol dCommerce DAO will provide funding for new projects built using Boson Protocol technology. This will provide developers with grants to expand the Boson Protocol ecosystem by creating innovative dCommerce tools and applications. In addition, the DAO will provide developer initiatives and oversee platform integrations.
The Boson Protocol is helping to build an open “Economy of Things”. This is achieved by encouraging developers to build apps, tools and interfaces for the “dCommerce stack” through the dCommerce DAO. DAO will be implemented in three stages. This includes initial start-up, followed by scaling and finally full decentralization. The DAO aims to be resistant to capture by centralized entities and provide “a fair and equitable distribution of ownership, value and control” while remaining in compliance with regulatory authorities. In addition, the DAO will oversee the supply and distribution of the BOSON token until full decentralization is established.
BOSON token
The BOSON cryptocurrency is the utility token of the BOSON protocol. BOSON currency accrues value from minimally extractive fees derived from transactions and access to third-party data in the Boson Web3 data market. This allows the Boson Protocol to facilitate two “planetary-scale sets of values”. The first is a decentralized network for business transactions. The second is a global store of commerce and Web3 data. There is an outstanding supply of 90.257.688 BOSON tokens and a maximum supply of 200.000.000 BOSON coins.
Use cases:
- Protocol Governance – The Boson token is used to govern the protocol and establish consensus around the issuance of funds and protocol changes through voting on the Boson Protocol dCommerce DAO.
- Staking – BOSON tokens can also be used to make commitment deposits. This reduces network fees for coordinating transactions for buyers and sellers of dCommerce data, reducing the circulating supply of BOSON tokens.
- Incentive – BOSON is used to incentivize ecosystem participants. This is achieved in several ways. Firstly, through the provision of BOSON token rewards through aggregators and sellers. Second, Relayer marketplaces accrue BOSON token fees as an incentive for distributing inventory. Third, the BOSON token is used to encourage data sharing. This means buyers can share their data and get a fair return for any value created as a result.
Where to buy the BOSON token?
BOSON can be purchased on several major cryptocurrency exchanges, some of the biggest are: MEXC, KuCoin, Huobi Global and Gate.io.
Boson Protocol (BOSON) Price Forecast
The price of Boson Protocol is predicted to reach a maximum level of $0.805 throughout 2022. According to our crypto price prediction index, in 2023, the price of Boson Protocol (BOSON) may reach a maximum level of $1.550, with the average trading price of $1.153. According to our crypto price prediction index, in 2025 BOSON is expected to cross an average price level of $1.868.
The minimum expected value of the Boson Protocol price at the end of the current year should be $1.725. Furthermore, BOSON can reach a maximum price level of $1.904. The price of Boson Protocol is predicted to reach the lowest possible level of $1.654 in 2030. According to our crypto price prediction index, the price of BOSON could reach a maximum possible level of $3.049, with the predicted average price of $2.298.
Conclusion
The Boson Protocol is a new layer dimension for Web 3.0 designed to distribute conventional standard trading markets and allow buyers and sellers to digitally exchange value for real-world products and services. The purpose of the Protocol is to provide a decentralized trading ecosystem by funding and accelerating the development of different applications to undermine standard commerce and make it more democratic. The Boson Protocol is designed as a transparent network that provides a fair and credible way for all parties to interact, including individuals and greater corporate value.
