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Official (BOP) Boring Obfuscation Protocol WhitePaper
The Token - The native digital cryptographically-secured token of the Boring protocol (BOP) is a transferable representation of attributed utility functions specified in the protocol/code of the Boring protocol. It is designed to be used solely as an interoperable utility token on the network/protocol.
BOP is a non-refundable functional utility token that will be used as the medium of exchange between participants on the Boring protocol in a decentralized manner. Introducing BOP aims to provide a convenient and secure mode of payment and settlement between participants who interact within the ecosystem on the Boring protocol. It is not, and not intended to be, a medium of exchange accepted by the public (or a section of the public) as payment for goods or services or the discharge of debt; nor is it designed or intended to be used by any person as payment for any goods or services whatsoever that are not exclusively provided by the issuer. The BOP token does not in any way represent any shareholding, participation, right, title, or interest in the Company, the Distributor, their respective affiliates, or any other company, enterprise, or undertaking. A BOP token will not entitle token holders to any promise of fees, dividends, revenue, profits, or investment returns and is not intended to constitute securities in Singapore or any relevant jurisdiction. BOP tokens may only be utilized on the Boring protocol, and ownership of BOP tokens carries no rights, express or implied, other than the right to use BOP as a means to enable usage of and interaction within the Boring protocol.
BOP also provides the economic incentives to encourage users to contribute to and participate in the ecosystem on the Boring protocol, thereby creating a win-win system where every participant is fairly compensated for its efforts. BOP is an integral and indispensable part of the Boring protocol; without BOP, there would be no incentive for users to expend resources to participate in activities or provide services to benefit the entire Boring ecosystem. Additional BOP tokens will be awarded to users based only on their actual usage, activity, and contribution to the Boring protocol. Users or holders of BOP tokens who did not actively participate will not receive any BOP incentives.
The Boring Protocol itself is simply a blockchain protocol that, by design, does not own or run any computing/storage servers, so third-party computing resources are required for processing transactions on the Boring protocol. Providers of these services/resources would require payment for the consumption of these resources to maintain network integrity, and BOP will be used as the native currency to quantify and settle the costs of these transactions. Following the same logic as dVPN users and node providers, purchasers of bandwidth would be required to fund the contract with BOP before it is entitled to use the service and be connected to the network. As the users consume data, their balance within the contract will be deducted to pay nodeproviders. As node providers process traffic, they will receive BOP rewards within the contract and withdraw BOP as a withdrawal period expires. The withdrawal delay period is structured to prevent bad actor nodes.
Node providers will stake the BOP token to indicate their commitment to the network, and regional traffic will be distributed across the nodes in proportion to their stake (greater stakes will entitle the node to perform more work). Staked BOP will also be subject to a withdrawal delay, creating a defense mechanism against bad actors. The stake works as a governance mechanism in directing user traffic with the defense mechanism.
BOP tokens are designed to be utilized, which is the BOP distribution goal. The project to develop the Boring protocol would fail if all BOP token holders simply held onto their BOP and did nothing with it. In particular, we would like to highlight that BOP:
(a) does not have any tangible or physical manifestation, and does not have any intrinsic value (nor does any person make any representation or give any commitment as to its value);
(b) is non-refundable and cannot be exchanged for cash (or its equivalent value in any other digital asset) or any payment obligation by the Company, the Distributor, or any of their respective affiliates;
(c) does not represent or confer on the token holder any right of any form concerning the Company, the Distributor (or any of their respective affiliates), or its revenues or assets, including without limitation any right to receive future dividends, income, shares, ownership right or stake, share or security, any voting, distribution, redemption, liquidation, proprietary (including all forms of intellectual property or license rights), right to receive accounts, financial statements or other financial data, the right to requisition or participate in shareholder meetings, the right to nominate a director, or other financial or legal rights or equivalent rights, or intellectual property rights or any other form of participation in or relating to the Boring protocol, the Company, the Distributor or their service providers;
(d) is not intended to represent any rights under a contract for differences or any other agreement the purpose or pretended purpose of which is to secure a profit or avoid a loss;
(e) is not intended to be a representation of money (including electronic money), security, commodity, bond, debt instrument, unit in a collective investment scheme or any other kind of financial instrument or investment(f) is not a loan to the Company, the Distributor, or their respective affiliates. It is not intended to represent a debt owed by the Company, the Distributor, or any of their respective affiliates, and there is no expectation of profit; and
(g) does not provide the token holder with any ownership or other interest in the Company, the Distributor, or any of their respective affiliates. Notwithstanding the BOP distribution, users have no economic or legal right over or beneficial interest in the assets of the Company, the Distributor, or any of their affiliates after the token distribution. To the extent a secondary market or exchange for trading BOP does develop, it would be run and operated wholly independently of the Company, the Distributor, the distribution of BOP, and the Boring protocol. Neither the Company nor the Distributor will create such secondary markets, nor will either entity act as an exchange for BOP tokens.
Boring will deploy a hardware device complete with firmware for participants to โ€œplug and playโ€ to support the network. These nodes will serve as routing points for the network to process traffic. In exchange, BOP token incentives will be distributed to encourage the deployment of such hardware devices/nodes.
The issues presented by existing systems are solved with the implementation of the Boring Protocol. Other mechanisms to thwart attack vectors will be introduced as they are identified. The Boring Protocol provides the means to generate income in token rewards from an endpoint such as a computer or mobile device even when it is not used and therefore would only be a cost to the average consumer. It is a relatively untapped resource, and it will drive an entirely new market for bandwidth usage and privacy in one actionable program.
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