What does Binance's new IEO Open Campus do?

Binance will launch its 31st Launchpad program, Open Campus (EDU) and BNB, on an investment-based basis, according to an official announcement on April 21st. Binance will determine how much a user can put in based on their average BNB holdings on the 5th day.

Open Campus is a platform that combines educational creation with blockchain technology. This platform allows educators to create and share their own innovative textbooks, and students can choose the textbooks according to their own needs. It features communities creating, owning and promoting content they want to learn about around the world. Educators can earn income through the agreement and gain recognition for their contributions from learners and the platform.

Platform users fall into three categories:

-Community (Learner)Can create, own and promote educational content that they want to know about worldwide, and use blockchain technology to fund, co-own and benefit educational content that meets their needs;

-Through Publisher NFT (Publisher NFT)Offer promotional rights to launch their content under agreements where co-publishers can earn revenue based on their contributions, in which creators and marketers share publishing rights;

-philanthropistSuch educational causes can be supported directly through donations, and their donated assets can be tracked through on-chain data.

To put it simply, Open Campus is still Binance's favorite Web3 story, from Web3 to Web2 app, Stepn, Hooked is the same. Open Campus is doing the Web3 version of Coursera.

Not long after Binance's last IEO Space ID, or even just after the ID was pulled, Binance unexpectedly announced a new issue of IEO. Soon the community was teasing the new IEO that almost no one knew.

The Open Campus Twitter feed was set up on April 5, just two weeks ago. Registration for the official website was in March this year. It can be found on its official website that the Launch Partners of Open Campus also have HOOK, Highstreet and other project parties. From the list of partners, it can be basically divided into Animoca and Binance. Movaverse, Sandbox, Tiny Tap are Animoca, and the rest belong to Binance.

TinyTap

In addition, Open Campus Protocol-based TinyTap is a user-generated content (UGC) educational technology company that provides code-free platforms that enable educators to create and distribute interactive educational content while capturing a usage-based share of revenue. Animoca Brands announced in June 2022 that it had acquired 80.45% of the issued capital of educational content platform TinyTap for a consideration of $38.875,000 in cash and stock.

Token economy

EDU is a native utility Token of the Open Campus Protocol ecosystem, with use case functions including:

· Governance: EDU holders can submit DAO proposals for the protocol and vote on them (for example, participate in planning Token usage to be allocated to the ecosystem, etc.).

· Payment: EDU can be used as a payment method for products and services provided by Open Campus Protocol (such as TinyTap, where a percentage of the proceeds will be allocated to Open Campus Protocol).

· On-chain revenue sharing: Contributors (including content creators, publishers, platforms) share of the agreed revenue within an EDU.

· User acquisition: EDU can be used to motivate and steer Web2 users to join Web3 because they can receive discounts on access to products offered by protocol ecosystem partners, such as TinyTap.

· Content ownership: Users can purchase co-publishing rights through publishers NFT and EDU.

As of April 21, 2023, the total supply of EDU is 1,000,000,000, and the circulation after listing is 145,000,000 (14.5% of the total supply of tokens), The LaunchPad sales quota is 50 million EDU (5% of the total Token supply). Other details are as follows:

(Data source: Binance Research)

(Data source: Binance Research)

Open Campus Protocol has raised $6 million in a private funding round in 2022. The number of tokens sold represents 6% of the total supply of EDU tokens, with an FDV of about $100 million.

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