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$EDU
Open Campus
By HackQuest
Oct 18,20243 min readWelcome to the Web3 world, where digital finance and applications are shown in a revolutionary way through the fusion of blockchain technology, cryptocurrencies, and a pioneering spirit. Are you overwhelmed by the wealth of terms in the Web3 world that you don’t understand? Are those slang barriers preventing you from learning about Web3? Don’t worry! We’re here to explain the obscure terms to guide your learning. Today, we're diving into an essential concept in the world of Web3: [$EDU].
What is $EDU
The $EDU token is the governance token for the Open Campus DAO and is also the native gas token of the EDU Chain.
$EDU token genesis occurred on BNB Chain as a BEP-20 token on 28 April 2023. It also exists on the Ethereum L1 Blockchain and will be bridged to the EDU Chain when the Mainnet goes live.
Source: Open Campus Documentation
Use Cases of $EDU
As the native cryptocurrency of EDU Chain, $EDU powers a wide range of functions and services within the platform which includes:
Governance
$EDU holders have a direct say in the platform's development through decentralized governance mechanisms. This ensures community-driven decision-making.
Platform Participation
By owning $EDU, you can access exclusive features, discounts, and early access to new products and services within the EDU Chain ecosystem.
Digital Asset Creation and Trade
Create and trade digital assets, such as NFTs representing educational certifications, digital content, or virtual goods, using $EDU.
Products, programs, and solutions powered by $EDU
●Open Campus ID: Decentralized learning profiles recording OC partner credentials minted with $EDU.
●Publisher NFT: Tokenized course contents minted with $EDU and distributed equitable return to Co-Publishers and creators in $EDU.
●OC Alliance: A consortium of partners in education and Web3 adopting Open Campus protocols.
●OC-X: 6-week accelerator program, providing funding, network, and growth resources for education-focused startups.
●OC University: Online social learning program incentivized in $EDU, powered by AI.
●OC DAO: The decision-making collective for education onchain, powered by $EDU token holders.
●Open Campus Education Fund: Incentivizing qualified educators to create courses that can be tokenized and sold as Publisher NFTs.
Payment and Rewards
$EDU can be used as a payment method for various educational services, online courses, and digital content. Additionally, it can be used for reward systems and incentives.
Ecosystem Growth
The demand for $EDU is directly linked to the growth and adoption of the EDU Chain. As the platform expands, the value of $EDU is expected to increase.
By combining the power of blockchain technology with the utility of a digital currency, $EDU aims to create a new economic model for the education sector.
Tokenomics
Supply Cap
$EDU has a total fixed supply of 1,000,000,000 tokens. Not a single more or less than it!
Token Allocation
Institutional holders (strategic sales, teams, advisors, and operational expenses) will receive 42.5% of the total token allocation. Other participants (ecosystem, early contributors, liquidity, treasury, and Binance Launchpad) will receive 57.5% of the total token supply.
Tokens allocated for the ecosystem fund will incentivize content creators to produce high-quality content and engage users to remain active on the platform. The ecosystem fund will also be used for grants, scholarships, and promotional incentives. This allocation aims to encourage the growth and adoption of the Open Campus Protocol by new content creators and partners while rewarding active community members and supporters of the ecosystem.
Token Release Schedule
Tokens will be unlocked and vested over time according to the release schedule in the chart below, starting from TGE on the 28th of April, 2023.
Additional Information
Token Bridge
Contract Address
The $EDU token contracts can be found here:
●BNB Chain (BEP-20): https://bscscan.com/token/0xBdEAe1cA48894A1759A8374D63925f21f2Ee2639
●Ethereum (ERC-20): https://etherscan.io/address/0xf8173a39c56a554837c4c7f104153a005d284d11
Conclusion
$EDU is more than just a digital currency; it’s the fuel that powers the EDU Chain ecosystem. As the backbone of this platform, $EDU plays a crucial role in driving innovation, fostering community engagement, and creating new opportunities. From governing the network to facilitating transactions and empowering creators, $EDU is essential to the growth and success of the EDU Chain.
If you wish to learn more about terms like $EDU, explore more in our HackQuest Web3 Glossary!