The jet compositions, central engines, and progenitors of gamma-ray bursts (GRBs) remain open questions in GRB physics. Applying broadband observations, including GRB prompt emission and afterglow properties derived from {em Fermi} and {em Swift} data, as well as from Keck host-galaxy observations, we address these questions for the peculiar, bright GRB 110731A. By using the pair-opacity method, we derive $Gamma_{0}>190$ during the prompt emission phase. Alternatively, we derive $Gamma_{0} approx 580$ and $Gamma_{0} approx 154$ by invoking the early-afterglow phase within the homogeneous density and wind cases, respectively. On the other hand, nondetection of a thermal component in the spectra suggests that the prompt emission is likely powered by dissipation of a Poynting-flux-dominated jet leading to synchrotron radiation in an optically thin region. The nondetection of a jet break in the X-ray and optical bands allows us to place a lower limit on the jet opening angle $theta_{rm j}>5.5^{circ}$. Within a millisecond magnetar central engine scenario, we derive the period $P_{0}$ and polar magnetic field strength $B_{rm p}$, which have extreme (but still allowed) values. The moderately short observed duration (7.3,s) and relatively large redshift ($z=2.83$) places the burst as a rest-frame short GRB, so the progenitor of the burst is subject to debate. Its relatively large $f_{{rm eff}, z}$ parameter (ratio of the 1,s peak flux of a pseudo-GRB and the background flux) and a large physical offset from a potential host galaxy suggest that the progenitor of GRB 110731A may be a compact-star merger.
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