In today's rapidly developing blockchain technology, EDU token, as a core component of the Open Campus Protocol, is gradually showing its diverse application potential in the field of education. This article will delve into the main application scenarios of EDU tokens, including governance, payment, on-chain revenue sharing, user acquisition and content ownership, etc., to help readers better understand the value of this token.
Governance: empowering holders
EDU token holders play a vital role in the Open Campus Protocol. Not only can they submit DAO (Decentralized Autonomous Organization) proposals, but they can also participate in voting and guide the use of tokens in the ecosystem. This governance mechanism ensures that token holders can directly participate in the development direction of the protocol, thus enhancing the cohesion and participation of the community.
Payment: Diversified payment methods: In addition to its governance function, EDU tokens can also be used as a means of payment and are widely used in products and services provided by companies adopting the protocol. For example, ecosystem partners such as TinyTap have begun accepting EDU as a payment method and allocating a portion of the proceeds to the protocol. This payment mechanism not only facilitates the user's consumption experience, but also provides economic support for the sustainable development of the protocol.
On-chain revenue sharing: fair value distribution
In Open Campus Protocol, the value of contributors is fully reflected. Whether they are content creators, publishers or platforms, they can share the revenue generated by the protocol by holding EDU tokens. This on-chain revenue sharing mechanism ensures that the interests of all parties are reasonably distributed and encourages more creators to participate in the production of educational content.
User Acquisition: Onboarding Web2 users to Web3: Another important application of the EDU token is user acquisition. Through incentives, EDU can help guide Web2 users to join the Web3 ecosystem. Users can enjoy discounts when they access products offered by Protocol ecosystem partners. This strategy not only attracts new users, but also increases the overall activity of the ecosystem.
Content Ownership: A Shared Future
In the Open Campus Protocol, users have the opportunity to purchase NFTs using EDU tokens, thereby jointly owning the publishing rights of the content with the publisher. This innovative mechanism not only gives users a greater sense of participation, but also encourages them to actively participate in the creation and sharing of content. This content ownership model brings new possibilities to the field of education and promotes the sharing and circulation of educational resources.
OC-X: Community-driven accelerator program: OC-X is a community-driven program approved by the Open Campus DAO and funded by the Ecosystem Fund, with a value of up to $10 million. This 6-week program is designed to provide tailored support and growth opportunities for education-focused startups. By incentivizing educational institutions to build and integrate Open Campus, the OC-X program works to build a foundational network of participants.
Once an institution joins, learners can access rich educational resources through the OC platform. This diverse user base not only increases the attractiveness of the ecosystem, but also provides opportunities for learners to learn from each other and discover new knowledge. As the platform expands, the distribution channels for educational products and services also become richer.
TinyTap: A good example of an existing Web2 product
Founded in 2012, TinyTap, a subsidiary of Animoca Brands, has one of the largest libraries of educational games in the world. Partnerships with well-known brands and publishers such as Sesame Street, Oxford University Press and more enable TinyTap to deliver high-quality educational content to more than 9 million families around the world. Its mobile apps rank among the top grossing kids apps in the world, with more than 250,000 games and 100,000 creators.
In 2022, TinyTap raised $6 million through a private placement, accounting for 6% of the total EDU token supply. Although the specific financier has not been announced, there is widespread speculation in the industry that Binance Labs may be the lead investor in this financing.
The future of education
With the continuous development of blockchain technology, the application prospects of EDU tokens in the field of education are very broad. Just like the success of projects such as Sand, AXS and Matic in the metaverse, GameFi and Layer2 fields, EDU tokens, as a new education track, are likely to become the next dark horse of Binance IEO in the future. It is expected that in June, the education node will be officially launched, when we will witness the vigorous development of this innovative project.
Conclusion
To sum up, the diverse application scenarios of EDU tokens have brought new opportunities and challenges to the education field. Through functions such as governance, payment, on-chain revenue sharing, user acquisition, and content ownership, EDU tokens not only promote the sharing and circulation of educational resources, but also provide more participation and incentives for users and creators. As the Open Campus Protocol continues to develop, the future of EDU tokens is worth looking forward to.