# What is Joint? ## What is Joint? Joint refers to a collection of components that work together to allow the Joint Protocol to achieve its purpose. Before we go into a detailed explanation of Joint, it is essential to describe them clearly. * **Joint Team:** This is the company within which the Joint protocol was developed. The company is responsible for researching, implementing, testing and deploying the Joint Protocol. * **The Joint Protocol:** A collection of non-upgradable smart contracts on an EVM-based blockchain that work together to facilitate peer-to-peer swaps between on-chain and off-chain assets such as crypto to fiat swaps and vice versa. * **The Joint Dapp:** A web interface and indexer designed to allow users to access and use the Joint protocol easily. It is open source and can be deployed by anyone worldwide to create an alternative access point. * **Joint Governance:** A suite of contracts designed to distribute ownership and control to the Joint community. The protocol's JOIN token facilitates Joint governance. * **The DroidPD:** The official NFT collection and mascot of the Joint ecosystem. A collection of 10,000 unique characters designed to tell the Joint story of unmediated commerce in a fun way. ## Introduction The Joint protocol is a peer-to-peer system that allows users to exchange cryptocurrencies (ERC20 Tokens) for off-chain assets like fiat, gift cards, and other real-world assets (and vice versa). It is also capable of allowing exchange between any two on-chain assets. It is a set of non-upgradeable smart contracts deployed on an EVM-based blockchain to match, organize and enforce asset exchange instantly or interactively. Joint protocol prioritizes the following properties: * Privacy: * Users do not need to reveal personal information (KYC-Free). * Communication between users is encrypted and inaccessible to anyone other than the participants in a trade. * Censorship-resistance: * Users can trade with anyone. * Users can trade any assets. * Users can trade unlimited volumes at any time. * Self-custody: * Users manage their funds and interact directly with the Joint protocol smart contracts from their wallets. There is no intermediary to hold funds or execute operations on users' behalf. * Transparency & Fairness: * Users can see the full trade information on-chain. * Users can start disputes and track the progress and decision-making with the Joint protocol's dispute system. With Joint, anyone can use or build an exchange that protects users from censorship and risks associated with centralized exchanges. Once deployed, the Joint Protocol will be instantly and perpetually available on the blockchain to everyone worldwide. ## How does Joint protocol compare to centralized P2P marketplaces? To sufficiently explain the difference between Joint protocol and its centralized alternatives, it is important to clarify the layers that make up a typical centralized P2P marketplace. These layers greatly determine the platform's capabilities and end-user experiences.

Centralized Marketplace Layers (read from bottom to top)

#### **Jurisdiction Layer** The first layer in a centralized marketplace is the *Jurisdiction* layer. This is the country or region where the marketplace has selected to incorporate its business and subjects itself to the existing rules and regulations. The team will look at factors such as ease of doing business, market size, legal structures, financial service infrastructure and political stability to make their decision. Incorporating in the wrong place can be catastrophic to the marketplace's success. #### Regulation Layer Once the jurisdiction has been selected, the regulatory layer includes all the rules that will govern the operations of the centralized marketplace. This layer informs the features and utilities built into the application. Most times, the source of pain and violations endured by users can be traced to this layer. It involves the enforcement of rules created by multiple regulatory bodies. Some of the most notable challenges users face include: 1. Privacy violations: 1. KYC requirement at registration time even when the user is not a citizen or domiciled in the jurisdiction. 2. Public revelation of customer information during a security breach or bankruptcy proceedings. 3. Sharing of confidential information and transaction activities with third parties. 2. Users' fund security 1. As custodian platforms, centralized marketplaces have control of users’ funds; they can lock funds for arbitrary service violations or at the request of regulators and other third parties. 2. The jurisdiction can also determine whether a user can access compensation when the exchange loses users’ funds via a software glitch, a hack, fraud or during a liquidation event. 3. Trading limitations 1. Regulatory requirements force centralized marketplaces to limit how much volume a user can trade before and after KYC completion. 2. Frequently, users intend to exchange assets at very low volume (ex, $10, $50, $100) but are still subjected to KYC procedures that can take multiple days to complete. 3. Additionally, users domiciled in a neutral jurisdiction who intend to trade among themselves will still be subjected to the rules of the host jurisdiction. #### Trade Engine Layer The Trade Engine layer implements the business logic of the marketplace with careful adherence to the rules defined in the regulation layer. The trade engine is responsible for registering and authenticating users, processing trade requests, handling KYC processing, payment settlement, and storing users’ communication logs and activities. Most user violations are executed on this layer. Since only the marketplace team has access to this system and the codebase is closed, detecting, proving, and protesting violations and irregularities is difficult before the damage is final. #### Application Layer The application layer includes applications in the form of web interfaces, mobile apps and API services used by end-users and developers. It is where the users go to start a trade, deposit funds, view their history and access marketplace features. The application layer is subject to the features made available by the Trade engine and other lower layers. It is tightly coupled to the Trade engine layer on centralised marketplaces, leaving no room for third-party extension or integration. #### User Layer The user layer describes the end-user who uses the marketplace to trade their cryptocurrencies and fiat. If the regulatory model requires KYC, it will not welcome users who need strict privacy considerations. High-volume traders will seek an alternative if the trade volume limit is too low. The type of users that make up this layer is largely determined by the decisions made in the lower layers. ### The Joint Protocol The Joint protocol takes a different approach through the decentralization of the layers that make up the protocol:

Joint protocol Layers (read from bottom to top)

#### Governance Layer Joint Protocol begins with a decentralized governance layer. As the first layer, Governance determines the protocol's features, capabilities and core ethos. At Joint, we are bootstrapping the Joint Protocol’s governance with an ethos that prioritizes censorship resistance and users’ privacy. We care about building a protocol that is permissionless and jurisdiction-agnostic. We care about building a democratized protocol that can be extended or integrated by anyone. At maturity, Joint protocol will be completely governed by its users across the globe. #### Trade Engine Layer Joint Protocol’s trade engine layer is a collection of smart contracts. These contracts work together to provide all the trade creation, management, settlement and rule enforcement needs of a peer-to-peer trading system. Unlike centralized trade engines, Joint is permissionless, censorship-resistant and privacy-preserving. As an autonomous system that lives on the blockchain, It does not conform to regulations in any jurisdiction; it has no boundaries and can maximize user happiness and fulfilment. It is open source; anyone can inspect, use the codebase and propose upgrades. #### Jurisdiction & Regulation Layers Unlike centralized marketplaces, a Jurisdiction layer is optional. The Joint protocol has no chosen jurisdiction; its only jurisdiction is the blockchain it is deployed on. As an autonomous application that lives on the blockchain, it cannot be accessed from anywhere. Without the constraint of jurisdiction, the Joint protocol does not include any artificial limitations designed to restrict its use unnaturally. At the Joint, we believe regulation may be applied on the application layer depending on the region the application intends to serve. Users worldwide and in different jurisdictions should not be required to adopt the rules from places they are not domiciled. #### Application Layer With a permissionless trade engine that lives on the blockchain, anyone can build applications that offer trading services to users across the globe and incorporate regulatory frameworks applicable to their target market (if they must). This layer encourages the creation of various interfaces and applications, enabling competition and more choices for users. The Joint development team will provide an official interface to allow users to access and use the protocol easily. #### User Layer The Joint protocol has been designed to enable integration and allow any team to build new interfaces and experiences. As a democratized protocol, applications can be designed to meet the specific needs of sections of users with little to no change in user experience. The protocol can also be integrated into existing and new decentralized applications to provide a new defi primitive for converting crypto-assets into cash. The Joint protocol user layer will span across many integrated applications and protocols. ## Conclusion The Joint Protocol uses innovative smart contracts to enable peer-to-peer trade without permission. This approach, unhindered by censorship and valuing user privacy, makes the platform unique. The smart contracts are carefully crafted to ensure smooth, secure, and efficient participant interactions. And its decentralized nature provides unparalleled transparency. The Joint Protocol is more than just a mission; it's a pioneering initiative. It plans to set up a new protocol for unrestricted on and off-ramping, welcoming all users and encouraging inclusivity. Plus, it's built to be compatible with both new and existing protocols. It can seamlessly integrate with various systems, promoting its usability and adoption. Joint Protocol aims to facilitate trade and foster a more interconnected, efficient, and inclusive digital economy. # How Joint is Different The Joint Protocol works like centralized P2P exchanges, sharing almost exact concepts that users already recognize and are comfortable with. However, Joint decentralizes and democratizes these concepts for good. For better understanding, It is essential to highlight the lifecycle of a typical peer-to-peer trade on centralized exchanges and then outline the approach taken by the Joint Protocol. ## Lifecycle of P2P Trade ### Registration **On CEX:** New users looking to trade on a centralized P2P exchange must create an account and provide their legal names, email, password and other private and identifying information. The exchange uses the data to create an identity, a profile and a custodian wallet for the user. **On Joint:** Users do not need to create an account. Users are not required to provide any personal information as they interact directly with the protocol. There is no need to collect private information. **They only need an Ethereum wallet with the assets they want to trade.** ### KYC Verification **On CEX:** After registration, most centralized P2P exchanges will not a users to start trades or create ads. Government regulations require centralized exchanges to know the user before offering services in most jurisdictions. Therefore, users must complete a KYC (Know Your Customer) onboarding process before they are allowed to trade. **On Joint:** As a protocol, Joint cannot collect or store private information as a smart contract. It does not need users’ confidential information before it can provide service. As a blockchain application, it operates autonomously and *forever*. However, interfaces and DApps that build on the Joint Protocol and operate in jurisdictions where KYC is mandatory may require users to go through KYC on their apps. It is important to note that even when an interface requires KYC, users can switch to an alternative interface, deploy their own or interact directly with the contract using tools like Etherscan. Since all interfaces and DApps building on the Joint Protocol are automatically non-custodial, users’ funds cannot be locked up, confiscated or mismanaged. ### Liquidity Provisioning **On CEX:** After completion of KYC, most centralized P2P exchanges set additional hurdles that users must overcome before creating ads (liquidity provisioning). For example, some exchanges require new users to be active for some time or have reached an arbitrary set usage target before being allowed to become liquidity providers (or merchants). **On Joint:** The Joint Protocol does not have these arbitrary requirements — the rules are open to everyone. Users can join anytime, open/access a market, and provide and swap liquidity. Users can also create their market, provide liquidity, and trade with people in their community (e.g., WhatsApp, Telegram, etc.). ### Markets **On CEX:** Centralized exchanges limit trading to several handpicked trading pairs (or markets). Liquidity providers can only add liquidity and trade on these markets. They have no options and must accept the terms and fees associated with these markets. **On Joint:** On Joint, liquidity is collected into a market. A market comprises two assets: a base asset and a quote asset. Liquidity providers bring the base asset (the liquidity), while the taker swaps exchange the quote asset (in their wallet) for the base asset. Anyone can create a market, optionally set a fee and invite liquidity providers to add liquidity. A market can also be open or permissioned. Liquidity providers can provide liquidity to any open market. Permissioned markets require users to be added to an allowlist before performing certain operations; this is useful for private or trusted markets. ### Trade Engine **On CEX:** Centralized marketplaces run and manage a trade engine responsible for managing accounts, markets, liquidity, orders and disputes. This system is critical and must always be up and running; otherwise, users risk losing time, money and opportunity if they cannot enter or exit a trade. **On Joint:** The Joint Protocol also features a trade engine. However, the protocol’s trade engine is implemented as a smart contract on the blockchain. By existing on the Ethereum blockchain, the Joint Protocol’s service will always be available with 100% uptime. That’s not all! It will also be censorship-resistant - nobody can make it inaccessible. ### Dispute Resolution **On CEX:** Not all peer-to-peer trades involving fiat go as expected; payment issues, disagreements, or fraud attempts can occur unexpectedly. Centralized marketplaces use a combination of an internal escrow, security deposit, and dispute system to resolve trade issues. These systems allow users to trade with the comfort of knowing they can plead their case to the platform operators when problems arise. However, centralized dispute systems are prone to human error and fraudulent manipulations; the mediators can erroneously or unfairly rule in favour or against a party leaving the other party with no other option than to accept the ruling. **On Joint:** The Joint Protocol takes a different approach by decentralizing the mediation system. No longer can one company have a monopoly to mediate a trade. Instead, anyone can purchase a mediator ticket, stake some JOIN tokens as a security bond and join a market to provide mediation service. Multiple mediators are randomly selected and drafted into pending disputes during a dispute. The chosen mediators must vote on the correct dispute outcome based on the evidence received from the trade participants. Mediators who vote with the majority are rewarded with JOIN tokens, while those who vote with the minority lose a fraction of their security bonds as a penalty. # Roadmap The 2024 roadmap for the Joint project This document describes our roadmap for 2024. It includes planned technological, economic and governance features. The items are subject to change and influenced by team and community discussions. We have tried to order the items based on priority, but such ordering may be executed in parallel or alternate order. **Q1 2024** * Launch Private Testnet * Launch Public Testnet 1 * IDO Preparations * Protocol Audits Partnerships * Exchange Listing Partnerships * Marketing Partnerships **Q2 2024** * New Roadmap Release * Launch Public Testnet 2 * Tokenomics Release * Private & Public IDO * Airdrop * Token Generation Event * Token Listing (DEX & CEX) * Release Audits Report * Mainnet Launch (Ethereum, Arbitrum, Base, Optimism) * Protocol Libraries & SDK * Bootstrap Mediation & Miner Economy **Q3 2024** * Wallet Providers, Protocol & Fintech Partnerships * More L2 Deployments * Mobile App Launch * Web Interface Improvements (ex: Internationalization) * Support NFT Markets * Support Gift Card Markets * Community Governance Integration **Q4 2024** * Web Interface v2 Launch * Mobile App v2 Launch * Joint Chain Spec Release (L1) # Market ## Introduction On Joint protocol, a market is a virtual place where users meet to exchange one asset for another. A market is the centre point of all trading activities on the Joint Protocol. The Joint Protocol market allows users to add liquidity. The liquidity is denominated in the base asset of the market. The users who add liquidity to a market are known as *Liquidity Providers*. ## Market Pair A market comprises two assets — one is known as the *base* asset, while the other is called the *quote* asset. The base token is the liquidity token priced in the quote asset. For example, in an ETH/USDT market, the base token is ETH*,* while the quote asset is USDT. So, users who want to buy ETH must pay USDT to get it. ## Market Type There are two types of markets. #### **Instant** This is a market involving only on-chain assets. In an instant market, the base and quote assets exist on-chain as either ERC-20 tokens (ex. WETH) or an NFT. Instant markets are fast and require no coordination or communication with a counterpart. #### **Interactive** Interactive markets are a type of market where either the *base* or *quote* asset or both exists off-chain. Examples of off-chain assets are fiat, gift cards, or a real-world asset. Unlike an instant market, an interactive market requires coordination and communication with a counterpart to track, advance and complete a trade. ## Market Creation As a permissionless system, anyone can create a market for free. It will only cost a transaction fee paid to the blockchain miners to execute the contract call. Once the market has been created, only the creator can update the properties of the market. ## Liquidity Liquidity is the **base** asset added to a market for users to swap. When there is sufficient liquidity, users can swap an amount at a price specified by the liquidity provider. A user who adds liquidity to a market is known as a **Liquidity Provider**. ## Market Access Level There are two access levels of a market: * **Open Access:** An open market allows anyone to add and swap liquidity. There are no limits or restrictions in this type of market. Anyone can interact with the market. * **Permissioned Access:** A permissioned market allows only users who have been added to an allowlist. It is designed to replace private or trusted peer-to-peer marketplaces that commonly exist on messaging applications with a more trust-minimised experience. ## Market Mediation Mediators are integral to the success of a decentralised peer-to-peer marketplace where one asset cannot be tracked because it exists off-chain. The Joint Protocol includes a mediation protocol that allows individuals and organisations worldwide to offer mediation services for an opportunity to receive protocol incentives. #### **Mediation Pool** A mediation pool is a component of the Joint protocol that involves pooled mediators designated to mediate for markets of a specific configuration. Mediators can be pooled to include only mediators that can mediate in markets involving USD, gift cards, collectables, comics, etc. During market creation, the creator must specify the pool from which dispute mediators will be drafted. #### **Minimum Mediators** The pool selected by the market determines how many mediators are drafted into any given dispute. When more than one mediator is drafted into a dispute, the majority's decision is considered the verdict. ## Market Fee A market creator can specify a percentage deducted from every trade originating from the market. Market fee incentivises legacy trading platforms, escrows and private trade communities to adopt the Joint protocol without losing their ability to generate revenue through fees. When both assets of a market exist on-chain (e.g. ETH/USDT), the market fee will be deducted from the **base** token (ETH). But if one asset represents an off-chain asset (e.g. USDT/JYP), the fee will be deducted from the on-chain token (USDT). ## Protocol Fee Like the [Market Fee](broken://pages/yfgvP4kCX8RfXG4gAI06), the protocol fee is deducted from every trade. However, the protocol fee is mandatory and applies to all trades across all markets. ## Market Access Joint protocol markets can set access permission to either *open* or *permissioned*. When the default configuration is used, a market is considered open and permission-less; anyone can provide and swap the liquidity. Access can be restricted on the following levels: * **Liquidity Provisioning:** When a market creator wants to provide their own liquidity, they can enable permissioned liquidity provisioning. They can also do this if they wish to handpick who can provide liquidity. When enabled, only wallets that have been added to the allowlist will be permitted to provide liquidity. * **Swapping:** When a market creator wants to limit swapping to a select number of wallets, they can turn on the permissioned swap. Only wallets that have been added to the allowlist can swap when enabled. Once a market enables permission by restricting who can provide liquidity, swap or join as a mediator, it is considered permissioned. The market will only do this when required to adjust to regulation or integrate into an existing service. By default, the Joint Team interface will not showcase permissioned markets unless explicitly requested by the user. Access permissions can only be configured at market creation time and cannot be undone. # Liquidity Liquidity is what users take when they interact with a market. A market is a collection of liquidity that can be swapped for another asset (the quote asset). The base asset of the market determines the kind of liquidity that a market accepts. For example, if a market’s *base* token is ETH, then the liquidity provided to it can only be ETH. The liquidity provider is known as a maker, seller, or merchant on centralised peer-to-peer marketplaces. The users who swap the liquidity are known as **takers** or **swappers**. ## Liquidity Provider A liquidity provider is a person or entity that transfers any amount of a market’s base token into the market. The asset provided as liquidity can then be swapped for the market’s *quote* asset at an exchange rate determined by the liquidity provider. For example, in an ETH/USDT market, the liquidity provider transfers ETH into the market and receives USDT after a successful swap event. A liquidity provider can add or remove liquidity at any time. ## Liquidity Pricing Liquidity providers are responsible for setting the price of their liquidity. The liquidity provider will be required to specify how much of the market’s *quote* asset they want in exchange for a *base* asset. Liquidity providers can update the price and other liquidity parameters at any time. ## Liquidity Manager A liquidity manager is a wallet that can be granted permission to update the price of liquidity. Liquidity providers may use automated services that automatically manage the price of their liquidity to keep it in sync with the current market price. Liquidity managers can only alter price and nothing else. ## Liquidity Parameters There are other parameters that a liquidity provider can adjust to manage their trading experience within a market. They include: #### **Minimum Swap Amount** This is the minimum amount of liquidity that can be swapped per transaction. A swap request will fail if the swap includes an amount lower than the liquidity's set minimum. #### **Maximum Swap Amount** The maximum swap amount limits the amount that can be swapped in a single transaction. This limit can help a liquidity provider manage how quickly their liquidity is depleted. #### **Payment Time** Liquidity providers can specify the time they expect to send or receive payment. In an [interactive market ](/concepts/market#interactive)where the provider is expected to send payment off-chain, the payment time tells the protocol and the counterpart how long to wait. On the other hand, if the liquidity provider expects payment from the counterpart, the payment time determines how long to wait. When this payment time elapses, a grace period is entered. If the payment is still not received, the swap becomes eligible for cancellation by the counterparts. #### **Pause** Liquidity providers can pause their liquidity at any time. To pause liquidity means to prevent takers from initiating new swap requests. Pausing is helpful when the liquidity provider wants to take a break but does not want to remove their liquidity. # Swap Swap means to take a portion of liquidity from a market in exchange for another asset. Swapping is the most common activity in the Joint protocol. It involves the exchange of an asset held in a user’s wallet for another asset provided to a market. For example, in an ETH/USDT market, users can swap USDT held in their wallet for ETH. Users who swap are known as **takers** or **swappers.** ## Types of Swap There are two types of swaps a user can perform: #### **Instant** This is a swap between two on-chain assets. For example, a swap in a market where *base* and *quote* assets are either ERC20 (ex. WETH, USDC) or an NFT (ex. DROID) will result in an instant swap. #### Interactive This is a swap between two assets, one existing on-chain and the other a synthetic asset representing an off-chain store of value such as fiat (e.g. USD, JPY, EUR), gift card, collectable and other real-world assets. ## Interactive Swap {% hint style="info" %} A synthetic asset describes an off-chain asset or store of value like fiat and gift cards. {% endhint %} An interactive swap involves swapping an on-chain asset for an off-chain or synthetic asset. In this type of swap, the synthetic asset can be anything that is transferred through an off-chain channel. Unlike instant swaps, an interactive swap is not instant. The swap participants must pass through a time-bound trade flow where they inform the protocol about the progress of the trade. A taker *creates* a swap, the off-chain payer marks the swap as *paid,* and the liquidity provider *releases* the escrowed asset. ### Interactive Swap Phases This is the life-cycle of an interactive swap: * **Creation**: The swap order is created. * **Payment:** In this phase, payment is expected to be sent off-chain. If the liquidity provider is the payer, they are expected to send payment to the taker. If the taker is the payer, they must pay the liquidity provider. Both parties must agree upon the mode of payment. * **Payment Notification**: The payer must mark the trade as paid once they have sent the payment to the counterpart. Failure to do this may result in swap order cancellation. * **Grace:** This phase is entered only when the payer did not mark the swap order as *paid* within the liquidity provider’s preferred payment time. The grace period gives the payer more time to make payment before the swap is eligible for cancellation. * **Cancellation:** After the grace period elapses, the swap enters the cancellation phase, where either counterpart can cancel the swap. * **Release:** After the swap order is marked as *paid*, the swap enters the release phase, where the token must be released by the counterpart who received an off-chain payment. * **Dispute**: A dispute phase can be started when either counterpart wants to cancel or force a release of the trade due to any issues (e.g. payment, communication, misinformation). Disputes can only be started if the swap is marked as *paid*. ## Swap Price The liquidity provider sets the swap price. A market can have many liquidity providers, each specifying a different price. During the creation of a swap, the swapper must ensure they have enough quote tokens in their wallet; otherwise, the swap will fail. For instance, in an ETH/USDT market where the price of 1 ETH = 1000 USDT, if the swapper intends to take 10 ETH, they must ensure they have 10,000 USDT in their wallet. If the market includes fees and the protocol fee is turned on, they must also account for them. #### Price Slippage Guard Joint supports a slippage guard that allows the swapper to target a specific price range. Suppose a liquidity's price changes after a swap transaction has been created and broadcast to the blockchain miners. In that case, the swap will be cancelled if the updated liquidity price exceeds the maximum price set during the creation time. Conversely, if the price is lower, the swap is executed using the lower price. ## Swap Fee Depending on the market, a swap transaction is subject to at least one type of fee — *market fee* and *protocol fee*. The *market fee* is paid to the market creator or owner. If a swap originates from a market that takes a fee, the fee is deducted at the end of the swap. Market fees can be optional if the market takes no fee. The *protocol fee* is a fee paid to the protocol. Unlike market fees, it is not optional. In an instant swap, the fee is deducted from the base token received by the taker. For example, in an ETH/BTC swap order, the fee is taken from the ETH side. For an interactive swap, the fee is deducted from the side with the on-chain asset. For example, in an ETH/JPY swap order, the fee is taken from the ETH side. Conversely, in a JPY/ETH swap order, a fee is also taken from the ETH side. ## Swap Expiry Sometimes, a user intends to get into a position within a duration but may be unable to pay the high gas fee to get their transaction mined quickly. If the transaction remains unmined for too long, they may miss the opportunity and enter an undesirable position when their transaction is finally mined. Joint supports swap transaction expiration that allows users sent the duration of their swap transaction to remain valid in the mempool. When this time elapses, the swap transaction will be rejected when finally mined. By default, the Joint Team interface sets the expiry time to 30 minutes but allows users to provide a custom value. # Dispute Resolution ## Introduction Whenever two people meet to trade something, disagreements are bound to happen. When a trade between multiple parties is not entirely automated, as in the case of [interactive swaps](/concepts/market#interactive), there must be a process to resolve any conflict. This system is known as a dispute resolution system*.* Users of centralized marketplaces are familiar with dispute (or appeal) systems. It assures them that the platform operators will listen, deliberate and possibly resolve a dispute in their favour. However, many users on centralized marketplaces have found the dispute process unfair, arbitrary, and lacking in transparency, with no way to appeal a ruling. ## Joint Dispute System The Joint protocol features a decentralized dispute resolution protocol designed to be scalable and secure against manipulation. It leverages the wisdom of the crowd to create a decentralized prediction system for disputes where community members with skin in the game are tasked with resolving issues arising from swaps. The dispute system is open to anyone. As a permissionless system operating on the blockchain, it is fair and consistent and executes rulings automatically. # Mediation Learn about dispute mediation ## Mediation The Joint protocol's dispute system is driven by users known as **mediators**. A **mediator** is a person who is drafted into a swap dispute to review the trade details and evidence and then predict the outcome. Depending on the mediation pool, up to a minimum of three (3) mediators are drafted into a dispute. After reviewing the counterparties' evidence, the mediators must predict and vote to *release* the token or *cancel* the disputed trade. After the mediators vote, the Joint protocol will execute the majority ruling. ### Enrolment An economic requirement must be fulfilled to participate as a mediator on the Joint protocol; intending mediators must purchase a *mediator ticket.* Additionally, they must deposit a specific amount of P2P tokens into their ticket; the deposit is called a security deposit. Security deposits ensure mediators have skin in the game and can be penalized for bad behaviour. The amount of security deposit a ticket must have is determined by the market the mediator intends to join. A market creator can set the minimum security deposit required of mediators. If a ticket with insufficient security deposit attempts to join the market, it will fail. # Ticket Market Learn about the mediation ticket market ### Introduction A mediator ticket is purchased directly from the protocol's ticket market. The ticket market manages the supply and price of the ticket. There is a capped amount of tickets that can be purchased. The price of each ticket grows and falls in response to demand. A ticket is purchased using the Joint's JOIN token. ### Ticket Pool A ticket pool is a collection of tickets drafted to disputes that originate from a market. Pools are used to group capable mediators for a specific market type and security expectation. When a market is created, it must select a pool of mediators from whom to draft mediators whenever a dispute arises. Ticket purchases are also required to join a pool if their ticket holds sufficient security bonds. ### Ticket Security Bond A ticket security bond is a staked that is locked with the ticket at the time of purchase. When a ticket is purchased, the purchase must indicate the pool to which the ticket should be associated. Then, they must lock the ticket's market price and the pool's security bond. Security bond provides security to the mediation system in that mediators have skin in the game and can be punished in the event of failure to carry out their duties deligently. When a mediator fails to vote or vote erroneously, a fraction of their ticket is slashed and they are removed from the pool. ### Ticket Supply At any point, the total supply of mediator tickets cannot exceed *10,000*. Joint Governance will be able to adjust this cap. ### Ticket Life-cycle A ticket goes through several states throughout its lifetime. **Creation** A ticket is created when it is purchased. At creation time, it is assigned a pool. The ticket market price and the pool's security deposit determine the overall ticket cost. $$ Cost = Ticket Market Price + Pool SecurityBond $$ #### Maturation A new ticket cannot immediately join its assigned pool. It must wait idle for some time. This wait time is known as the *maturation period*. Once the ticket matures, it is considered **mature** and must join its assigned pool. #### Join A mature ticket enters a state where it must join the pool it was assigned at creation time. As a joined ticket, it will be eligible for the draft to mediate in new disputes. A mature ticket must join its assigned pool within a period, after which it will expire if it remains unjoined. #### Expire A ticket enters an expired state when it is cancelled or not joined to its assigned pool. An expired ticket cannot join a market; the owner must cancel it and drain the security bond and purchase cost. #### Cancel A ticket not drafted into a dispute can be cancelled at any time. Cancellation is the first step required for a ticket's security deposit to be withdrawn by its owner. Ticket cancellation is not instant; it takes effect after a long wait. This delay prevents bad actors from destabilizing the ticket market through an abrupt exit. #### Drain When a ticket's security deposit and purchase cost have been withdrawn, we say the ticket is **drained.** To drain a ticket, it must first be cancelled. Draining is instant; Funds are immediately returned to the ticket owner's account. #### Draft When a ticket is randomly selected to mediate in a dispute, the ticket is said to be **drafted**. In other words, drafting is when a ticket is picked to mediate in a dispute. Ticket owners who have joined a pool should expect to be drafted anytime. Once drafted, the ticket creator must participate in the dispute process or risk getting their security deposit slashed. The Joint protocol miners are responsible for drafting mediators into disputes. #### Undrafting Undrafting a ticket means removing it from a finalized dispute and returning it to its assigned pool. A ticket can only be undrafted after miners have executed the dispute's verdict. When a ticket has been undrafted, it will be immediately available for drafting into a new dispute. The Joint protocol miners are responsible for undrafting mediators. # Voting Learn how voting works for dispute resolution ## Introduction Voting is how mediators express their verdicts for a given dispute. When a mediator is drafted to a dispute, they are expected to review the trade details and evidence presented by the swap counterparts before casting a vote. A mediator must predict what they believe is the right decision and what they think other mediators will decide based on the available evidence. Mediators can vote either to **release** the asset locked in a swap or **cancel** it and return any locked asset to their original owners. They cannot abstain from a vote. When a mediator's vote is among the majority voters (winners), they will receive a reward. But if their vote is among the minority voters (losers), a fraction of their security deposit is slashed. If a mediator abstains from voting by not casting a vote or not completing the voting phases, a fraction of their security deposit will be slashed. ## How Voting Works The Joint protocol voting system incorporates several phases over a fixed duration. * **Draft Phase:** In this phase, mediators are drafted into a dispute. The dispute does not begin until all mediators are fully drafted. In this phase, the swap is locked. * **Evidence Phase:** The evidence phase is where the mediator is expected to request and review evidence from the swap participants. * **Vote Commit Phase:** The mediator must encrypt and send their decision (release or cancel the swap). Votes are encrypted to prevent anyone from learning the choice made by the mediator. * **Vote Reveal Phase:** After the commit phase, the mediator must reveal their previously encrypted vote so it can be tallied. * **Execution Phase:** This is where Joint miners execute the verdict reached by the mediators. * **Undraft Phase:** After execution, all drafted tickets must be undrafted and rewards distributed. This is the phase where miners perform those operations. # Incentives & Penalties Learn about protocol mediation incentives and penalties ## Incentives As a public utility, anyone can become a mediator of the Joint Protocol, helping to solve disputes. However, mediators spend time and money to perform these duties. On Joint protocol, the mediator role is incentivized. Joint will reward mediators to solve disputes and keep the protocol lively. ## Slashing The Joint protocol considers the mediator critical to the protocol's success, as such irresponsible behaviours, mistakes, or incompetence will not be tolerated. To reduce misbehaviours, the protocol causes economic loss to mediators who are not following the rules by burning a fraction of the security bond associated with their ticket. There are two situations where a mediator's security deposit is slashed: * A fraction of the mediator's security deposit is slashed when a drafted mediator does not vote for the majority verdict. * A drafted mediator will be slashed when they do not vote or complete all the vote procedures. Slashed security bonds will be burned - This will serve as a deflationary mechanism for the native token. # Mining Mining is an integral part of the Joint protocol. It involves the execution of actions that keep the protocol lively. Due to the nature of smart contracts on the blockchain, they cannot execute functions without a user-initiated transaction. In other words, smart contracts can only update their state when users sign and broadcast a transaction. The Joint protocol requires special protocol participants to create transactions that perform various operations necessary to move the protocol. These protocol participants are known as ***miners***. ## Transaction Types There are several types of transactions miners can create. Some of these transactions are created in response to swap operations and must be sent within a specific period. ### Draft Transaction A draft transaction randomly selects and sends mediators into a new dispute. This process is known as *drafting*. When a dispute is created, the protocol cannot cheaply draft mediators in the same transaction. Instead, the protocol relies on miners to call the `draft` method until all mediators are assigned to the dispute. For instance, when a dispute requires three (3) mediators, the `draft` method can be called only three (3) times for that dispute. The dispute will be fully initialised once all mediators have been drafted. ### Undraft Transaction An un-draft transaction removes previously drafted mediators from an executed dispute. An executed dispute is a dispute that has been concluded. When a dispute has been executed, miners can call `undraft` multiple times to remove the mediators and prepare them for their next draft. For instance, if three (3) mediators are drafted to a dispute, it will take three (3) `undraft` calls to undraft the mediators. ### Dispute Execution Transaction A decision execution transaction is used to execute the ruling of a dispute after the voting phase has ended. When voting ends, mediators call the `executeDecision` method of the dispute to execute the ruling. Depending on the verdict, the call may release the locked asset of the disputed swap, cancel the swap, or mark the dispute as stalled if a definitive verdict is not reached. Miners can only call this method once per dispute. ## How To Become a Miner Mining is open to everyone. Intending miners do not need to stake any tokens. The only expense on the miner is the network fee and miner hosting cost which are repaid as a part of the protocol reward earned. ## Incentives The Joint Protocol rewards miner for their service to the protocol through rewards earned for every transaction completed. The protocol reward allocated to the miner will include the transaction fees paid to execute transactions, the miner hosting cost and a substantial amount as compensation. # Fees The Joint Protocol collects a fee when a swap is completed. Two types of fees exist in the protocol -- *market* and *protocol* fees. ### Market Fee When a market creator creates a market, they can set a commission that will be deducted from every swap originating from their market. However, the market fee is optional; the creator can remove it. ### Protocol Fee The protocol fee is a compulsory fee charged on all swaps across all markets. # Messaging Learn about private messaging Joint is an interactive exchange protocol that organizes users and manages their interactions towards a successful trade. To complete an interactive trade, the counterparts often communicate through a messaging system. Their communication involves sharing payment information, payment status, and issues surrounding the trade. ## Messaging on Centralized Exchanges Centralized peer-to-peer exchanges offer an insecure messaging service. Users’ messages are stored unencrypted and can be read by employees, exchange partners and other third parties or hackers if there is a breach. ## Messaging on Joint Protocol Joint Dapp includes a private messaging protocol built on [xmtp](https://xmtp.org/) to allow users to send encrypted messages to each other. With Joint's messaging system based on xmtp, a user's messages can only be read by the intended receiver and no one else. # Badge System Learn about the badge system ## Introduction A badge is an arbitrary string that represents something off-chain. It can represent ownership, identity, status or membership. It is an annotation system used by the Joint protocol for access control and by the Joint Dapp to improve user experience. A badge is usually granted to an address by an issuer. They can also be revoked or expire after some time. The badge system aims to make trading on the Joint Protocol safer for people. ## Example Use-cases With the badge system, users can: * Get verified for a specific purpose (e.g. KYC, country, token holder, DAO member, sports team fan). * Create a market reserved for users with one or more badges. * Join markets reserved for members with a specific badge. * Joint Interface can filter markets and liquidity by badge types. ## Concepts ### Format A badge is an arbitrary string that represents something. An example of a badge is `kyc`, `bitcoiner`, `african` and so on. Full format: $$ badge\[/path] $$ The format above describes a full badge identifier. The first part is the *badge,* while the other path after that `/` is known as the *path*. The part is optional but can convey information closely related to the badge. ### Issuer & Co-Issuer A badge issuer is an address permitted to issue a specific badge (e.g `badge`). A co-issuer is an address permitted to issue a path on an existing badge (e.g `badge/path`). For instance, an identity verification firm can be granted permission to issue `kyc` badges to users so they can access all kyc-gated markets or liquidity. This firm is called an *issuer*. A badge issuer can also permit themselves or another address to issue a path under their badge. In the previous example, the identity firm can create a path name `kyc/usa` granted to users from the U.S. The creator of a path is known as the *co-issuer*. ### Issuer Registration Currently, only the Joint development team can register issuers to prevent badge squatting and misuse. In the future, we plan to decentralize and manage the badge system using an ens-like approach. ### Metadata Badge metadata conveys arbitrary information that makes sense to external systems. At the time of issuance, the issuer can insert metadata. Metadata can also be added when a badge is granted to an address. Joint provides functions for updating metadata. ### Granting Badges A badge is meant to be granted to an address. Badge issuers and co-issuers can grant their badge to any address they choose. During this process, they can pass along metadata that external services can read later. ## Badge for Access Control The protocol uses a badge for access control purposes. The protocol allows market creators to limit access to their market by asking for one or more badges before an action is allowed. ### Access Control for Liquidity Providers A market owner can specify up to eight badges that an intending liquidity provider must possess before they are allowed to provide liquidity to the market. This is useful in markets where the owner wants to ensure only people of a certain category can provide liquidity. ### Access Control for Swappers Similarly, a market creator can specify up to eight badges an intending swap must have before performing a swap operation. This is useful when the market creator needs to manage who can take the liquidity in the market. Additionally, like market creators, liquidity providers can filter swappers by badges. They can define what badges takers or swappers must have before they can interact with their liquidity. ## Badge as a filter The badge system allows Joint Interfaces to provide a more relevant experience to users by allowing markets and liquidity to be filtered based on the user's preference. A user that intends only to be exposed to the kyc-gated market can enable the `Safe Mode` feature to force the Dapp to fetch only markets whose liquidity providers and swappers have completed KYC and have been granted a `kyc` badge. We also leverage badges to show markets and liquidity closer to the users via regional badges. ## # Supported Badges Learn about the official badges We currently support the following badges in the Joint Interface. #### `kyc` * Users may choose to complete a KYC verification process to obtain this badge. * It's optional. However, a user without the badge will not be able to use a market that requires it. #### `pm` * Payment method badge for annotating a preferred payment method to liquidity. * Allows would-be takers to know the payment method of choice before initiating a swap. #### `instruction` * This is a badge used to annotate trade instructions to liquidity. # General ## General FAQ ### What is Joint Protocol? Joint is a peer-to-peer exchange protocol that allows users to swap cryptocurrencies for fiat or other cryptocurrencies. Joint lets users interact directly with themselves to complete trades. No middleperson. No central authority. ### What can I do with the Joint Protocol? You can use the Joint protocol to exchange any cryptocurrency for fiat or other cryptocurrencies. For example, you can exchange ETH for fiat or ETH for USDC. ### What trading pairs are supported? Joint Protocol allows anyone to create a market for any token pair as long as they are based on the ERC20 standard. Joint has no trading pair limitation. ### Who are the protocol participants? Protocol participants are persons or entities that work together to keep the protocol lively and operating optimally. These are the protocol participants: * Market Creator - They create markets that can be traded on. * Liquidity Provider - Adds and manages liquidity in a market. * Liquidity Manager - Optionally granted the power to set or update a liquidity's price. * Mediator - Responsible for resolving disputes. * Miner - Executes public operations (ex, drafting, un-drafting, vote execution, etc.). * Interface operator - Provides and manages an interface (website or mobile app) that allows users to access and use the protocol quickly. ### Who is a taker? A taker (or swapper) is a person who swaps a quote asset for the base asset of any market. ### What is an Interface? An interface is a Dapp built on top of the Joint protocol. It can be a web or mobile application. Anyone can build an interface for the Joint protocol with additional features. The beauty of Joint protocol is that all interfaces intrinsically adhere to the protocol's censorship-resistant and non-custodial rules. ### Is KYC required? As a collection of smart contracts deployed on the blockchain, the protocol does not require KYC registration. However, interface operators incorporated in regions where KYC is mandatory may enforce KYC through the [badge system](/concepts/badge-system). ### How are disputes resolved? The Joint protocol includes an open, transparent, and simple decentralised dispute resolution protocol. When a dispute is raised, registered mediators are randomly drafted to the dispute, where they collect evidence and vote on a verdict. Mediators are rewarded by the protocol when they vote with the majority and are slashed when they vote with the minority. ### How will Joint protocol be governed? The Joint Team team will initially develop the Joint Protocol. When the protocol matures, a co-governance system between the protocol creators and the community will be set up to manage the protocol. # Market ## What is a market? A market is where liquidity providers and takers meet to exchange an asset. Liquidity providers add liquidity (the base asset) to the market, while takers exchange an asset they own (the quote asset) for the liquidity. ## What are the types of markets? Joint supports both instant and interactive markets. Instant markets involve pairs that exist on-chain (e.g. USDT/WETH). Interactive markets involve pairs where one of the assets exist off-chain (e.g. USDT/JPY). ## What is a market fee? It is a fee deducted from every trade from a specific market and paid to the market creator. The market creator is responsible for setting the market fees. # Liquidity ## Who is a liquidity provider? A liquidity provider is anyone who deposits and locks the base asset of a market such that others can trade it for another asset (the quote asset). ## Who sets the liquidity price? Liquidity providers can set the price of their liquidity at all times. They can also delegate the task to a liquidity manager (ex, a bot). ## Who is a liquidity manager? A liquidity manager is another account authorized to update the price of liquidity. Users may optionally grant permission to another account to help them keep the price of their liquidity close to the market price. Ideally, an automated service should be granted this role. ## Can I add or remove liquidity? Yes! Liquidity providers can add or remove liquidity at any time. ## Do liquidity providers earn a fee? No. Unlike AMM exchanges, liquidity providers on Joint protocol are more similar to makers on centralized exchanges; they do not earn a fee. They can only set the price of their liquidity. ## How many open swap orders can I have? The Joint protocol allows a maximum of 5 open swap orders. When the limit is reached for specific liquidity, no new swap can be initiated until the open orders are finalized. ## Can I set the duration I expect to handle payment? Yes. Liquidity providers can set a duration they expect to receive a payment (if they are the payee) or send payment (if they are the payer). After this time elapses, the protocol will enter into a grace period. If the grace period ends without the trade being marked as paid, it will enter the cancellation phase, where the liquidity provider or the taker can cancel the trade. ## When can I cancel a trade? After the liquidity provider's preferred payment window and the protocol's grace duration elapsed, at that point, any of the participants can cancel the trade. ## When can I start a dispute? Disputes can be started after the trade has been marked as PAID. # Mediation ## Who is a mediator? A mediator is a real person responsible for deciding the outcome of a disputed swap order. They typically work with other mediators to decide the ruling for a dispute. ## How can I become a mediator? To become a mediator, you must purchase a mediator ticket and stake a minimum amount of P2P tokens to be used as a security bond. The security bond is designed to encourage thoughtful and responsible mediation. Unfortunately, a portion of the mediator's bond is slashed and burned whenever a mediator gets it wrong or fails to vote when called. ## What is the cost of a mediator ticket? The cost of a mediator ticket is determined by the supply and demand of tickets at a point in time. Joint protocol calculates the prices based on supply and demand. If the demand for tickets is high, the price will rise. When demand is low, the price falls. ## What is ticket maturity? Ticket maturity describes how long a ticket must wait before it is ready to join a market. A newly purchased ticket must wait sometime before it becomes mature/ready. Ticket maturity prevents an attacker from purchasing a ticket and joining a mediator pool to influence mediation. ## Can a mediator ticket expire? Yes! Mediator tickets cannot be idle for an arbitrary duration or stashed for future use. If a ticket has not joined its assigned pool after maturity, it will expire after some time. The owner can cancel an expired ticket, allowing the security bond to be withdrawn. ## Can I resell a mediator ticket? No. Ticket owners cannot transfer tickets to another wallet. ## What is a pool? A pool is a collection of tickets owned by many mediators. A pool brings mediators skilled at mediating a certain type of market. Market creators designate pools responsible for resolving disputes. ## How many pools can a ticket join? A ticket can only join the pool that it was assigned to when it was created. The ticket owner cannot change it or join a different pool. ## Can a ticket leave a pool at any time? A ticket can only leave a pool when the owner requests to cancel the ticket. ## What is drafting? Drafting is when a mediator ticket is selected to solve a dispute. ## When is a ticket drafted? A ticket is randomly selected and drafted when a dispute is created. Any ticket in the pool has an equal chance of being drafted. ## How does voting work? When mediator tickets get drafted to a dispute, the dispute will enter into an *evidence phase* where the mediators will be allowed some time to request and review evidence from the swap counterparts. After the *evidence phase*, the *vote-committing* phase begins. In this phase, mediators must encrypt and cast their votes. After the vote-commit phase, the *vote-reveal* phase begins. In this phase, mediators must reveal the vote they previously committed. After the vote-reveal phase, the vote is tallied, and the outcome is executed by the smart contract with the help of miners. ## What happens if a ticket votes with the minority? A fraction of the ticket's security bond will be slashed. Also the ticket is removed from the pool. The ticket owner can cancel the ticket and withdraw the remaining security deposit. ## What happens if a ticket misses a vote? A fraction of the ticket's security bond will be slashed. The ticket will also be removed from the pool. The ticket owner can cancel the ticket and withdraw the remaining security deposit. ## Do mediators earn a reward? Yes. Mediators are rewarded for their service to the protocol. # Miners ## Who is a miner? A miner is a user who executes public operations that keep the protocol lively and operating optimally. Public operations are actions that anyone can perform. Miners are responsible for the following: * Drafting mediators to disputes * Un-drafting mediators. * Executing dispute ruling. ## Is mining incentivized? Yes. Miners are rewarded with JOIN tokens. ## How can I become a miner? Miners run a CLI application that watches for new mining tasks and attempts to complete them faster than other miners. # Security ## Is Joint Protocol non-custodial? Yes. You will always have control of your assets at all times. When you provide liquidity to a market, you deal directly with Joint contracts; You will always be able to remove your liquidity. ## Is Joint Protocol Audited? Joint Protocol will be audited before the mainnet launch. ## What happens if a counterparty refuses to release an asset? You can start a dispute if you have made the payment requested in the swap order. Joint Protocol’s dispute system brings real humans into a dispute to verify why an asset has not been released or a payment has not been made. The dispute system will release the asset to you if the evidence indicates that you made a payment. Otherwise, the swap will be cancelled. ## What happens if a counterparty does not make a payment? Suppose a counterparty does not make payment (or mark the swap order as `paid`). In that case, Joint Protocol will eventually allow the swap order to be cancelled by you or the counterparty after some time elapses. However, you can start a dispute if the counterparty marks the swap order as `paid`, but you did not receive the payment. ## Is KYC Supported? Interface and apps deployed by the Joint Lab team leverage the badge system to provide users with a `kyc` badge to indicate that an address has completed a KYC process. Market creators and liquidity providers are free to limit access to users who have the `kyc` badge. ## Safe Mode Joint Interface includes a safe mode setting that limits the markets and liquidity users are exposed to those created by users with a `kyc` badge. When this mode is turned on, users are assured that they are not dealing with unverified counterparts. ## Regional Mode Joint Interface filter markets by region. With the help of the badge system, a market can associate itself with a `region/[country]` badge to indicate that the market suits people of a specific region. Liquidity providers can also apply a region badge which will cause the protocol to enforce access to only users granted the specific region badge. # Token Supply There will be **10 billion** JOIN tokens. The token allocation is as follows: * 40% to Joint Community, which includes distribution to testnet & Trialnet users, Droid NFT holders & ecosystem. * 25% to Strategic Partners, with a 3-year vesting period, which includes future investors and advisors. * 22% to Core Contributors with a 1-year lock up and 3-year vesting period, which includes current and future team members. * 10% to Community Investors, with 25% released at TGE and a 9-month vesting period. This includes IDO participants. * 3% for Liquidity Management.
### **Community Allocation — 4,000,000,000 JOIN** The community allocation is intended to reward users who used the Joint protocol, built applications based on it, and used decentralized exchange protocols in the last six months. This allocation is broken down into the following: * **DroidPD NFT Holders:** 1% of JOIN supply can be claimed by owning a DroidPD NFT. The amount to be claimed will equal the Energon level of the Droid. \ **Release Schedule:** 50% at TGE, 9-month daily vesting. * **Testnet & Trialnet Users:** 3% of JOIN supply can be claimed by users who tested the Joint protocol through participation in our testnet and the Trialnet events (TapWar, social and protocol interactions). \ **Release Schedule:** 50% at TGE, 9-month daily vesting. * **Ecosystem/Treasury**: 36% of the JOIN supply will be reserved for ecosystem development and grant programs. JOIN holders will govern the treasury. ### **Strategic Partners — 2,500,000,000 JOIN** Strategic Partners include investors and advisors. This allocation is subject to a 1-year lock up and a 3-year vesting period. ### **Core Contributors— 2,200,000,000 JOIN** Core Contributors are current and future employees of Joint Labs. Core Contributors allocation is subject to a 1-year lock up and a 3-year vesting period. ### **Community Investors — 1,000,000,000 JOIN** Community Investors include IDO participants. 25% at TGE, 9-month daily vesting.
# Token Mechanics & Utility **JOIN holders will be responsible for setting protocol fees and other parameters.** Joint deployments on many chains will be governable through voting. The Joint community will use cross-chain governance contracts designed to allow the community to decide on protocol changes across Joint deployments. Joint Protocol can charge a fee per completed swap operation. The community can decide on the fee percentage and transfer the accrued fee to the treasury and staking pool. The treasury and staking pool will be under the control of token holders. A portion of the accrued fee can be transferred to the treasury while the rest is sent to the staking contract reserved for staked token holders. JOIN voting gives holders control over Joint, allowing them to participate in the protocol's governance regardless of the chain on which they hold JOIN. ## Utility * **Medium of Exchange:** JOIN is the medium of exchange for services across the Joint protocol and ecosystem. It will be used to pay and receive trading fees on Joint markets. * **Governance:** JOIN tokens will be used for governance. Token holders can vote on significant changes to the protocol. * **Security:** The JOIN token will be used as a security bond for new dispute mediators. Before they can participate in dispute resolution, mediators must purchase tickets that hold bonds denominated in JOIN. * **Staking & Incentives:** Joint miners stake JOIN as a security bond to be eligible to complete protocol tasks. Miners are rewarded with JOIN when to complete a task successfully. # Introduction Learn about DroidPD NFT DroidPD (a.k.a Droid Police Department) is the official mascot of the Joint Protocol. DroidPD is the medium by which the Joint and our community tell the story of decentralized, peer-to-peer commerce. ## What is DroidPD DroidPD is an NFT project consisting of 10,000 unique characters. According to the lore, Droids are security agents drafted into the police department of the Freedroid universe. The agent’s role is to protect the universe's inhabitants from those seeking to prevent them from trading and exchanging ideas openly and freely. ## Utility * **Fee Discount:** Receive up to a 25% fee discount when using Joint protocol. ## Traits A trait represents a feature of a Droid. A Droid comprises eight randomly selected traits combined to give the Droid its unique form, colours and other features. Each trait has an Energon requirement that must be met before the Droid can go to battle. [Learn more](#traits) # Lore In a distant universe known as FreeDroid, billions of lifeforms from different planets, moons, asteroids and nebulae co-existed and traded together in peace, fairness and harmony. These species thrived on their ability to share ideas, inventions, recipes and procedures freely and without restrictions. They traded with each other without a middle person. Nobody could dictate what they could trade or share. This freedom led to even more growth and opportunities for the inhabitants of FreeDroid. But things changed when the Bandits arrived. The Bandits are a ragtag group of criminals and mercenaries sponsored by species in the beta quadrant of the universe. This side of the universe believed that all trade must take place within their quadrant and all trades must be approved by their God King. For many years, the Bandits disrupted the lines of trade and destroyed planets that refused to comply with their demands. Billions of species were made extinct. When the suffering became unbearable, the citizens of FreeDroid decided to set up a police department to defend the universe against the bandits. It was decided that each of the 10,000 habitable planets produced an agent to join the new DroidPD. DroidPD is a collection of 10,000 agents policing the FreeDroid universe to ensure peaceful, non-intermediated commerce between species. # Utility ### Fee Discount Holders of DroidPD NFT are entitled to up to a 25% discount on trading fees. # Allocation This page describes the token allocation for the DroidPD NFT. | Allocation | Share | | ------------------- | ----- | | Team (Team Edition) | 10% | | Partnership | 20% | | Public | 70% | ## Team Edition Team Edition (or Team Allocation) includes 10% of the supply specially reserved for the team. This unique allocation includes Droids with high rarity, JOIN (formerly P2P) and Energon allocation. The Joint team intends to auction this allocation in the future. # Prohibited Jurisdictions This page includes a list of Jurisdictions prohibited from using the Joint Lab operated Joint Interface. | Prohibited Countries | | ------------------------ | | Afghanistan | | Azerbaijan | | Bahamas | | Bosnia and Herzegovina, | | Burma (Myanmar) | | Burundi | | Canada | | Central African Republic | | China, People's Republic | | Congo, Dem. Rep. | | Crimea Region | | Cuba | | Eritrea | | Ethiopia | | Guinea-Bissau | | Guinea, Republic of | | Iran | | Iraq | | Laos | | Libya | | Madagascar | | Mozambique | | Nicaragua | | Korea, North | | Lebanon | | Serbia | | Seychelles | | Somalia | | South Sudan | | Syria | | Uganda | | United States of America | | Uzbekistan | | Vanuatu | | Venezuela | | Yemen | | Zimbabwe | | |