Peter Jang
January 17, 2025 13:21
Open Campus is leading the layer 3 blockchain space with the introduction of the EDU Chain mainnet on Arbitrum Orbit, boasting a total fixed value of $150 million.
Open Campus, a community-led decentralized autonomous organization (DAO) focused on building an on-chain education network, has successfully launched the EDU Chain mainnet. This new development positions EDU Chain as a strong player in the blockchain space, especially in the education sector, with a total value at lock (TVL) of $150 million. According to Animoca Brands, the mainnet launch announced by Open Campus marks a significant milestone as it surpasses all other layer 3 blockchains in terms of TVL.
EDU Chain’s strategic design and performance
EDU Chain is built on Arbitrum Orbit and is tailored for consumer-facing education applications and on-chain education finance (EduFi). The blockchain is powered by the EDU token, which plays an important role in its operation. The impressive TVL on the mainnet includes parts of the Open Campus treasury and assets linked by liquidity providers, highlighting strong support and trust from stakeholders.
Following a successful testnet phase that recorded over 86.2 million transactions and 358,684 unique active wallets, EDU Chain will deploy 47 decentralized applications (dApps) on mainnet. The transition from testnet to mainnet is expected to further strengthen the ecosystem and user participation.
Initiatives to promote dApp development
Open Campus has launched several programs to increase the number of dApps on the EDU Chain platform. One of its key initiatives is a series of online hackathons offering $1 million in prize money to encourage innovation and development. The hackathon has already attracted thousands of participants, with the first two events focusing on DeFi and infrastructure, followed by gamified training and DeFi applications. Registration for the third hackathon is scheduled to open in February 2025.
Additionally, the Open Campus Incubator program provides hackathon winners with a 12-week incubation period, giving them the opportunity to gain interest and secure funding for their projects.
Community participation and future prospects
To further engage the community, EDU Chain introduced a mainnet points program where users can earn Yuzu points by interacting with dApps on the mainnet. These points can be used to unlock EDU token releases, with up to 150 million EDU tokens allocated for rewards.
Yat Siu, Co-founder and Chairman of Animoca Brands, highlighted the innovative potential of the EDU Chain mainnet in integrating blockchain technology and education. Shan Han, Portfolio Manager and Head of Ecosystem at Animoca Brands, highlighted the project’s strong infrastructure and strong trust gained among developers and stakeholders.
The launch of the EDU Chain mainnet marks a pivotal advancement at the intersection of blockchain technology and education, aiming to revolutionize the way education systems operate and interact globally.
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