| Redeemable NFT/NFT Voucher | An implementation of a Voucher using NFT technology. | |
| Redeemable/Voucher | A promise, giving the holder of the Voucher the right to receive a certain item or a bundle of items from the Seller, or to transfer that promise to another party. It represents a commitment by a Buyer to participate in the Exchange described by the Offer and from the Seller to fulfill the agreement described in the Offer. | |
| Access Token | A non-fungible token (NFT) or a fungible token(s) which authorizes access to private content for the owner (off-chain, on-chain, or IRL). | |
| Bundle | A set of items being sold together in a single Offer. When digital Twins are included with a physical item described by an Offer, they are associated with a Bundle. A single Bundle can combine multiple Twins with multiple Offers. | |
| Buyer Funds Committed | The funds a Buyer commits to participate in an Exchange. | |
| Buyer Payoff | The funds a Buyer may withdraw when an Exchange reaches a finalized protocol state, | |
| Cancel a Voucher | The holder of a Voucher may cancel it, forfeiting the Offer's stated buyer cancelation penalty and being refunded the remainder of their committed funds. | |
| Cancellation Penalty | The anount of funds defined in the Offer, that Buyer loses if they decide to Cancel a an Exchange. It's defined as a part of the Offer Price. The remainder of the price is returned to the Buyer. | |
| Commit to an Offer | Committing to an Offer causes the protocol to escrow the Buyer's payment and issue them a Voucher. | |
| Commitment | A Buyer’s dedicated promise to the Seller to redeem an item or a bundle from the Seller’s Offer. A Seller’s dedicated promise to the Buyer is to deliver a quality redemption. The commitment is backed up by the deposit from the Seller and the cancellation penalty included in the funds committed by the Buyer. | |
| Conditional Commit | A Commitment to an Offer that specifies a Condition. The field of possible Buyers is narrowed to those who meet the Condition, such as holding a minimum quantity of a certain token. | |
| Conditional Token | An access token which the Buyer must hold in order to Commit to an Offer or Redeem a Voucher. Only relevant for Offers specifying a token-gating Condition. | |
| Contractual Agreement | An agreement that is written down in the natural language that clearly describes the terms and conditions of sale and the terms upon which the disputes will be resolved. | |
| Dispute Mutualizer | An entity external to the protocol that “insures” escalated dispute resolution fee deposits of the exchange transaction for a small fee from the Buyer | |
| Dispute Mutualizer Fee | The payment a Dispute Mutualizer charges every time it “insures” a protocol exchange | |
| Dispute Resolution Fee | The funds committed to an Exchange to cover the Dispute in case it is Raised | |
| Dispute Resolver | An entity designated by the Seller for a given Offer, to hear arguments and evidence from each party in the case of a Dispute. For a fee, the Dispute Resolver decides how funds associated with the Exchange are to be split. | |
| Escalate Dispute | The Buyer's final recourse in the course of a Dispute, should attempts at mutual resolution fail. Both parties must accept the decision of the Offer's designated Dispute Resolver. | |
| Escalation Response Period | Period during which DR can respond to a dispute. | |
| Evidence Requirement | A requirement for the evidence provided by the Seller and the Buyer during the dispute resolution process. | |
| Exchange | A process that facilitates the trade (exchange) of items for monetary value via the Boson Protocol. | |
| Extend Resolution Period | An action a Buyer and Seller can take mutually, triggering a reset of the Resolution Period clock, thus extending the Resolution Period. | |
| Complete Exchange | An action a Buyer or Seller can take to complete the exchange, allowing the seller deposit and the buyer payment to be withdrawn by the Seller. | |
| Dispute Period | Period during which a buyer can raise a dispute and after which a Seller is automatically paid. Buyer optionally can complete the exchange before the period is over. | |
| Group | A set of Offers which share a common Conditional Commit rule. | |
| Happy Path | The flow of the Boson Protocol in which there are no disputes - all transfers and exchanges end successfully, as expected. | |
| Inactive Period | Optionally, the Seller can set a future time as the start of the Redemption Period while still allowing Commits to the Offer prior to that time. In such a case, the time between Committing to the Offer and the beginning of the Redemption Period is called the Inactive Period. | |
| Item | In an Offer, the thing being sold. A broad term that may represent any digital (off-chain/on-chain) or physical product or service. | |
| Lazy Buyer | A Buyer that does not perform any on-chain actions unless it is in their interest (such as to raise a dispute, or to avoid a penalty). This is the expected behavior of most buyers. | |
| Mutual Resolution | The process by which a Buyer and Seller resolve a dispute by mutually agreeing on a resolution, i.e., on how to split the Buyer and Seller funds committed. | |
| Mutual Resoluiton Period | Is the period during which a buyer and seller may mutually resolve a dispute. Starts with dipuste and ends with 3 different. | |
| Offer | Seller's intention to sell an Item or a Bundle of items on the Boson Protocol. It can be though of as an agreement proposed by a Seller and contains details such as price, buyer cancellation penalty, and seller deposit, token of exchange, etc. | |
| Offer Metadata | Off-chain data that provides additional information about the Offer, such as Seller contact details, product descriptions, legal terms and conditions, etc. | |
| Offer Price | The amount the Buyer must provide in order to Commit to an Offer. | |
| Protocol Fee | An amount levied by the Protocol from the proceeds of a Happy Path Exchange. | |
| Protocol FInal State | Any of the end states of an Exchange or a Dispute, after which participants can withdraw any funds owed them. | |
| Protocol State | One of the states in the state machine(s) of the Boson Protocol. | |
| Raise a Dispute | "An action a Buyer can take at any time during the Redemption Period if they are unhappy with the Exchange, have a quality or delivery complaint, or another issue they need to resolve with the Seller. | |
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| Receipt | The record of an Exchange, its Offer, any delivered Twins, and any associated Dispute. | |
| Redeem a Voucher | An action a Voucher holder can take that initiates the Fulfillment Period of the Exchange, and burns the Voucher. | |
| Redemption Period | The period during which a Voucher (rNFT) can be redeemed by the Buyer. | |
| Resolution | How the Committed funds of an Exchange are to be split in the case of a Dispute. Buyer and Seller can mutually agree to a resolution, or it can be decided by a Dispute Resolver. | |
| Resolution Period | The time period between a Dispute being raised (or its clock reset), and some resolution being arrived at. | |
| Resolve Dispute | Once a mutual agreement has been reached in a Dispute, the Buyer and Seller can sign a message with the details and submit it to the protocol, moving the Exchange to its Resolved state, where the parties may withdraw their funds accordingly. | |
| Retract Dispute | An action a Buyer can take to accept the original terms of the Offer agreement after a Dispute was raised, allowing the seller to withdraw their deposit and the buyer payment. | |
| Revoke a Voucher | An action a Seller can take after a Buyer has committed to an Offer. The Seller forfeits their deposit (revocation penalty) to the Buyer. The Buyer may withdraw their payment and the Seller deposit. | |
| Seller Deposit (Revocation Penalty) | Funds committed by the Seller to the protocol which will be forfeited to the Buyer in the case of Voucher Revocation. | |
| Seller Funds Committed | The funds a Seller commits to an Exchange at the Commit action. | |
| Seller Payoff | The funds a Seller receives at the end of the Exchange or Dispute (after one of the final protocol states is reached). | |
| Twinning/Bundling | A complex exchange involving two or more products. In the case of NFT twinning, this refers to selling of an on-chain NFT along with a physical item such as painting, sneakers, other collectibles, etc. | |
| Void an Offer | An action a Seller can take to permanently prevent further commits to an Offer. Any existing Exchanges related to the Offer are not affected. | |