KEY TAKEAWAYS
- Open Campus DAO launches the EDU Chain mainnet, a Layer 3 blockchain on Arbitrum Orbit, to enhance on-chain education applications.
- EDU Chain achieves a total value locked (TVL) of $150 million, becoming the leading Layer 3 blockchain in terms of TVL.
- Initiatives like hackathons and the Open Campus Incubator aim to expand the dApp ecosystem on EDU Chain.
- EDU Chain introduces a mainnet points program, offering Yuzu points to unlock EDU token emissions, enhancing user engagement.
Open Campus, a decentralized autonomous organization (DAO) focused on building an on-chain education network, has announced the launch of the EDU Chain mainnet. This Layer 3 blockchain, built on Arbitrum Orbit, is designed to support consumer-facing education applications and on-chain education finance (EduFi), utilizing the EDU token.
With the mainnet launch, EDU Chain has achieved a total value locked (TVL) of $150 million, making it the leading Layer 3 blockchain in terms of TVL. This figure includes a portion of the Open Campus treasury and assets bridged by liquidity providers. The data, as of January 17, 2024, is available on L2beat.
Initiatives to Expand dApp Ecosystem
EDU Chain aims to expand its ecosystem by increasing the number of decentralized applications (dApps) on its platform. Two key initiatives have been introduced to achieve this goal. The first is an online hackathon series offering prizes equivalent to $1 million. The inaugural event focused on DeFi and infrastructure dApps, attracting over 4,500 participants and 725 submissions. The second event, targeting gamified education and DeFi dApps, saw 5,160 participants and 836 submissions. The third hackathon event is scheduled to open for registrations in February 2025.
The second initiative is the Open Campus Incubator, a 12-week program designed to help hackathon winners gain traction for their dApps on EDU Chain. Participants will have opportunities to pitch for grants and venture capital funding upon completion.
Incentives and Community Engagement
EDU Chain has also introduced Season 1 of its mainnet points program. Users can earn Yuzu points by interacting with dApps on the EDU Chain mainnet. These points can be used to unlock EDU token emissions, with up to 150 million EDU tokens allocated for mainnet rewards.
Yat Siu, co-founder and executive chairman of Animoca Brands and a council member of the EDU Foundation, commented on the launch, stating that it marks a pivotal step towards integrating education with blockchain technology. Shan Han, portfolio manager and head of Ecosystem at Animoca Brands, highlighted the significance of EDU Chain’s $150 million TVL, noting it as a testament to the project’s robust infrastructure and trust within the community.
For more information about EDU Chain, visit its website here.
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