Ecosystem value flows
Ecosystem Participants are the value creators. In Boson Protocol v0.1 we consider as the fundamental value creators Sellers (and Aggregators), Buyers (and Resellers), Developers (of Boson Protocol and of Ecosystem Partners who adopt early). All actors actively participating, and hence receiving and holding $BOSON are referred to as “Participants”.
The actions of Participants are incentivized to “maximize the supply of high-quality no-complaint redemptions.”
In Boson Protocol v0.1 we consider the value flows of Phase 0 “Ecosystem Success” describing the dynamics of open source protocol development and Phase 1 “Things” describing the dynamics of bootstrapping of the ecosystem. Phase 2 “Money” and Phase 3 “Data” will be detailed as we progress. See the latest version of our roadmap for a rough timeline and this article for a high level overview.
Eventually, Boson Protocol foresees a three token model: $BOSON the token representing the value of the network, the “Commitment Token” (in Boson Protocol v0.1 Voucher and Voucher Set) smart contracts, stateful NFTs which handle the exchange of goods & services from the digital into the physical world, and “Thing Tokens”, ERC20 fungible counterparts for buying particular Commitment Tokens which will be introduced with Phase 2.
Phase 0: “Ecosystem Success”: community-first development
The $BOSON in the Ecosystem Fund will be distributed
for incentivizing Participants to maximize the supply of quality Commitment Tokens (Voucher, Voucher Set in v0.1)
for development of open-source software that enables the above Participants to do so. Especially aggregators - resellers who can onboard sellers and cater to buyers in larger numbers.
The distribution policy mechanics will vary as we progress from phase to phase. Initially, we closely engage with the Participants and communities in the ecosystem to co-create.
Phase 1: “Things”: activating the value creation pattern of commitment tokens
Sellers and Aggregators of Sellers increase the Commitment Token Supply when they offer to mint the Commitment Token (Voucher or Voucher Set in v0.1), indicating what physical goods and services they will provide in the physical world. The Commitment Tokens get minted only when the Buyers and Resellers (to cater to their buyers) commit to buy.
In Phase 1, the price of an item is set by the Seller and is static.
Both Seller and Buyer put down a deposit when they offer and commit. The game theory embedded in the Commitment Token’s logic then unfolds to ensure that the Buyer either gets the item or gets refunded. The deposit transfer scheme guarantees that either the Seller delivers a high quality item and the Buyer does not complain, or if the Seller delivers a low quality item, then the Buyer complains and the Seller admits to being at fault.
The deposits can be in any ERC20, including $BOSON. If network participants deposit with $BOSON, depending on network expansion state, they would pay accordingly lower network fees.
Network fees for using the value flows are minimally extractive and are collected in the $BOSON Ecosystem Fund. There are further value flows into the $BOSON Ecosystem Fund, which will be detailed as we progress into Phases 2 and 3. Below is a sneak peek into those value flows:
We will detail these as we progress with the modeling and simulations.