CoinMarketCap Academy takes a deep dive into Open Campus, a decentralized education protocol and the latest project to be featured on Binance launchpad.
Open Campus is a decentralized educational protocol that helps communities and educators to create and share tokenized educational content.
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.
The protocol uses smart contracts to distribute content revenue among the creators, co-publishers, validators and the EDU Foundation - a non-profit entity that supports protocol development, education initiatives and community building. This on-chain revenue sharing ensures that every contributor is fairly rewarded for their work and the value they create.
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.
Binance Launchpad Sale
The platform’s EDU token is launching via a token sale on Binance Launchpad:
The sale started on April 23, 2023 and will last until April 28, 2023. More information can be found here.
How Does Open Campus Work?
Creators can use various third-party platforms and tools to produce educational content in different formats and domains.
For example, they can use TinyTap to create interactive games and courses; they can use Mocaverse to create immersive learning experiences in the metaverse; or they can use GEMS to create curriculums and assessments for schools. Here’s a more in-depth overview of those third-party platforms.
TinyTap is a platform for user-generated educational games that has over 200,000 games and courses created by teachers and parents for children aged 2-8. The platform has adopted the Open Campus Protocol and launched the first-ever Publisher NFTs in October 2022.
Mocaverse is an NFT project which is building a dedicated learning area for the metaverse. The protocol has partnered with Open Campus to integrate its NFTs with the protocol and enable learners to access educational content in a fun and engaging way.
GEMS is the largest school network in the Middle East and North Africa, with over 250 schools and 190,000 students. GEMS is working to integrate with Open Campus and use its protocol to create, distribute, and consume educational content for its schools.
How Do You Use Open Campus?
Creators can submit their content to the protocol for tokenization; if it’s accepted, the content will be made into publisher NFTs, which are unique digital assets that represent the ownership and promotional rights of the content. To have their content reviewed by validators, creators need to pay fees in EDU tokens.
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.
Co-publishers can buy Publisher NFTs from creators or from secondary markets, and are responsible for marketing and localizing the content for their target audiences and regions.
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 access the content on any platform or device that supports the protocol, but they need to pay a fee in EDU to consume the content. The fee is determined by the creator and co-publishers and may vary depending on the type, quality and demand of the content. Proceeds from the fee are split among the creator, co-publishers, validators, and the EDU Foundation according to smart contracts.
Learners can also rate and review the content and provide feedback to the creators and co-publishers.
EDU token holders can help govern the platform via the Open Campus DAO, which manages the protocol’s development, funding, and operations through a series of tools and functions.These include proposing and voting on protocol upgrades, allocating funds for protocol development and education initiatives, setting protocol parameters and fees, and resolving disputes and conflicts.
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.
Donors can support educational causes directly and transparently with smart contract donations.
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.
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