CoinMarketCap Academy takes a deep dive into Open Campus, a decentralized education protocol and the latest project to be featured on Binance launchpad.
Creators, publishers and learners can use Open Campus in a variety of ways:
- Creators can mint their content into Publisher NFTs, which are unique digital assets that represent the ownership and promotional rights of the content.
- Co-publishers can buy Publisher NFTs and help market and localize the content for their communities.
- Learners can access the content and pay in EDU, the platform’s native token. Revenue from the content is shared among the contributors via smart contracts.
- EDU token holders can help govern the protocol’s DAO, or decentralized autonomous organization, which manages the protocol development, funding, and operations.
Open Campus allows donors to support educational causes directly and transparently with smart contract donations. Donors can choose from a variety of causes, such as scholarships, grants, bounties and sponsorships and track their donations on-chain. The protocol also incentivizes donors with tax benefits and recognition.
Open Campus relies on a peer-review system to ensure that the content meets its quality standards and complies with its rules. Validators are randomly selected from a pool of qualified EDU holders who stake their tokens to perform the validation task. Validators earn rewards for their work and face penalties for misconduct.
Several third-party platforms have integrated with Open Campus, including TinyTap, Mocaverse and GEMS. These platforms help users create, distribute and consume educational content in different formats and domains through the Open Campus protocol.
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How Does Open Campus Work?
Creators can use various third-party platforms and tools to produce educational content in different formats and domains.
How Do You Use Open Campus?
Each Publisher NFT has a fixed supply of copies that can be sold to co-publishers, and a Content ID — a unique identifier that facilitates access to the content through any platform or device.
They can use various channels and strategies to promote the content, such as social media, blogs, podcasts and newsletters. For their work, co-publishers earn a share of the revenue from the content based on their contributions and performance.
Learners can also rate and review the content and provide feedback to the creators and co-publishers.
The DAO’s overarching aim is to ensure the protocol’s development aligns with stakeholder interests, and that it adapts to the changing needs of the education sector.
They can choose from a variety of causes, such as scholarships, grants, bounties, and sponsorships and specify the amount and conditions of their donations. Each donation is executed by a smart contract that ensures the funds are delivered to the intended recipients and used for the specified purposes. The protocol incentivizes people to donate through tax benefits and recognition.
Open Campus Tokenomics
Open Campus has a native token called EDU that powers the protocol’s ecosystem. The EDU token has several functions and uses, such as:
- Payment: Learners pay in EDU to access content; while creators, co-publishers, validators, and the EDU Foundation receive EDU as revenue from the content.
- Governance: EDU holders can propose and vote on protocol upgrades, allocate funds for protocol development and education initiatives, set protocol parameters and fees, and resolve disputes and conflicts.
- Donation: EDU holders can donate their tokens to support educational causes directly and transparently with smart contract donations.
The total supply of EDU is fixed at 1 billion tokens. EDU is allocated and distributed as follows:
- 5%: Binance Launchpad, which is conducting the token sale for Open Campus in May 20231. The token sale price is set at 1 ID = 0.025 USD (price in BNB will be determined prior to subscription).
- 4%: operational expenses. Vested over a period of 24 months, with no cliff and monthly releases.
- 10%: liquidity provision. Vested over a period of 12 months, with no cliff and monthly releases.
- 7.5% early contributors. Vested over a period of 6 months, with no cliff and monthly releases.
- 25%: ecosystem fund. Vested over a period of 48 months, with 5% released at TGE (token generation event) and monthly releases thereafter.
- 10%: treasury. Vested over a period of 24 months, with a 12-month cliff and monthly releases thereafter.
- 13%: strategic sale. Vested over a period of 30 months, with an 18-month cliff and monthly releases thereafter.
- 15.5%: advisors. Vested over a period of 30 months, with an 18-month cliff and monthly releases thereafter.
- 10%: team. Vested over a period of 36 months, with a 24-month cliff and monthly releases thereafter.