What is Open Campus?

Open Campus is the latest IEO project on Binance Launchpad. Open Campus is a UGC platform, which can be understood as a content-sharing or online education platform.

Typically, education platforms involve three types of roles:

• The platform operator who provides support and maintenance for the platform
• The content creator, who provides content/courses
• The "students" seeking educational content.

In the Web2 world, we can see that there are already many similar platforms, such as the most famous Coursera and China's XuetangX. Both platforms allow individuals to choose topics and courses that interest them and earn certificates upon completion.

It is worth noting that as of today, although Coursera has gone IPO, it has always been in a loss-making state (with revenue but no profit). Coursera's business model includes

• Selling courses with certificates
• Paid courses
• Providing course services to enterprise-level customers.

Similarly, XuetangX (学堂在线) also provides paid courses as its main service. In addition, it offers value-added services for an extra fee on top of its free courses, including the ability to save learning records, participate in discussions, and earn certificates.

It is not difficult to see that making money in the online education industry can be challenging from a business perspective. Open Campus's approach is to combine the process of content circulation and usage with tokens and NFTs. The aim is to enable users who provide educational content to earn money while also providing incentives for users who are interested in learning to participate in the course.

Therefore, everyone is making money.

Right?

Specifically, the innovations that Open Campus has made on the basis of traditional online education platforms include:

• Using NFTs as certificates and transforming educational content into NFTs.
• Using blockchain to ensure the rights and interests of content creators by authenticating all content on the platform.
• Using tokens as a means of exchange for accessing courses and as a medium of exchange for rewards.

Open Campus's background

Open Campus is a close partner of TinyTap, or TinyTap itself. TinyTap is a user-generated content (UGC) educational gaming platform from Israel, founded in 2012. It enables every user who does not know how to code to create educational content with a focus on game-based learning for children.

In June 2022, Animoca Brands acquired 84% of TinyTap's shares for a price of $38.9 million, with plans to transform it into a Web3 platform. A few months later, TinyTap conducted its first NFT issuance. In the first issuance, the TinyTap Publisher NFT earned approximately 139 $ETH in revenue, with half going to the creators.

Token Info

The $EDU token underlies the Open Campus Protocol. $EDU will be a BEP-20 token on BNB Chain with a total fixed supply of 1,000,000,000 tokens.

Current use cases

• Payment to reward content creators and co-publishers for their revenue share.
• Minting educational content as an NFT.
• Payments to access partner educational platforms of Open Campus.
• Voting rights within EDU governance.

Future potential use cases: Future potential use cases

• Buying and selling on the Open Campus Protocol marketplace (for example, co-publishers buying Publisher NFTs).
• Grants and scholarships via Smart Donations.
• Decentralized peer-review system.
• Future Educational partners (e.g. Publishers such as Oxford University Press and Schools, GEMS Education) adopting the Open Campus Protocol.

These (and other) uses can be proposed by the Open Campus Protocol community and approved through the protocol’s governance process. These (and other) uses can be proposed by the Open Campus Protocol community and approved through the protocol’s governance process.

Institutional holders (strategic sale, team, 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.

$EDU's token distribution is shown in the following graph

$EDU tokens will be distributed over a minimum of 5 years, with 14.5% of the supply released at TGE (Token Generation Event).

• Liquidity operations receive a 10% allocation of the total $EDU token supply. At the Token Generation Event (TGE), 50% of this allocation will be unlocked, and the remaining will be released linearly over 1 year. The EDU Foundation treasury and operational expenses will provide any additional liquidity required.
• The ecosystem fund accounts for 25% of the total token supply. This allocation will be unlocked with 5% released at TGE, and the remaining released linearly over 4 years to support the ongoing development and growth of the Open Campus Protocol.
• The treasury is allocated 10% of the $EDU token supply, with 5% unlocked at TGE. The remaining allocation is locked for 1 year and is then released linearly over 2 years.
• Early contributors are rewarded 7.5% of the total token supply for their contributions. 10% of the token allocation will be unlocked at TGE, and the remainder will be released linearly over 6 months.
• Strategic sale is allocated 13% of the total $EDU token supply, and advisors receive 15.5%. These allocations will be locked for 1.5 years after TGE and released linearly over 2.5 years.
• 5% of the $EDU token supply is allocated for public sale via Binance’s Launchpad, with these tokens being unlocked at TGE.
• Operational expenses receive 4% of the $EDU token supply — 50% of the allocation will be unlocked at TGE. The remaining token allocation will be unlocked linearly over 4 years.
• The team will receive a 10% allocation of the total token supply, locked for 2 years and released linearly over 3 years.

Regarding Open Campus in Binance IEO, you can refer to: Open Campus will launch its token on Binance Launchpad.

So, it is just a retelling of Web2 stories using Web3/Crypto. We have already seen many similar projects, such as StepN from Binance Launchpad or many so-called "Web3's Github".

Is this truly a Web3 innovation revolution or is it just because crypto exchange users are easily swayed?