A Quick Look at the Web3 Education Protocol EDU3: Background, Composition and Token Distribution

Recently, the DeSchool team, a Web3 online education infrastructure, officially released the EDU3 protocol whitepaper v1.0 developed by the team, and all products developed by the team use the EDU3 token. At the same time, shawn, founder of DeSchool and on-chain resume Booth, said that EDU3 tokens will be airdropped to the community and early adopters next year. As a Chinese project, EDU3’s open-card airdrop is worth paying attention to. Today, Foresight News gives a brief overview of what the EDU3 protocol is and how its token distribution and airdrops are like.

1. “Protocol, not Platform”

Regarding the origin of the EDU3 protocol, the article “DeSchool Protocolization: Web3 Native Education Infrastructure” has a brief description:

In 2021, Caesar Lynch left a Silicon Valley crypto technology company to think about how to change the status quo in the industry where Web3-native education infrastructure is missing. After many discussions with SeeDAO founder Whitefish, Caesar Lynch and his technical team decided to develop an educational protocol called EDU3 and set up the company in Hong Kong. Based on this protocol, the DeSchool team has successively developed DApps such as deschool.app, on-chain resume booth.ink, and echo.world. Today, the DeSchool development team is trying to make the protocol available to the community in the form of an SDK to simplify the barrier to entry for Web3 development and use. According to the DeSchool team, the EDU3 protocol provided in the form of SDK supports out-of-the-box support, helping developers to quickly launch Web3 education applications with zero backend and minimal resource investment.

II. EDU3 Protocol Composition and Incentive Method

At present, the EDU3 protocol is relatively complete in terms of content, identity, incentives, NFTs, reputation, etc., including: permanent knowledge graph, cross-ecological identity binding, on-chain general academic qualifications, co-creation of teaching materials NFT, incentive curation network and educational social reputation. This basically constitutes the various stages of education: teaching materials, knowledge acquisition, knowledge sharing and dissemination, evaluation, academic certification, on-chain resume and talent recruitment, etc. Its ecosystem participants include stakers, ecosystem developers, content creators, curators, and content consumers.

The overall architecture of EDU3 revolves around “content creation” based on Arweave storage, and only a steady stream of high-quality new content will drive curation, staking and consumption, so that DApps will also be active. The incentive mechanism of EDU3 is also relatively simple, in terms of time, the earlier the ecosystem participants participate, the more EDU3 they will receive.

3. Economic model and airdrop details

The native token of the EDU3 protocol is EDU3, which will enter the market circulation by the end of 2024, and will be issued in the form of points. EDU3 can be used to pay for or offset the cost of storing Arweave, streaming media and bandwidth, issuing fees for co-creation of EDU3 teaching materials, and possible future fees around content creation and distribution. In terms of business model, the revenue of the EDU3 protocol comes from fees and content sales.

The total amount of EDU is 1 billion, of which 25% is allocated to the team (250 million), 15% to investors (150 million), 10% to SeeDAO (100 million), and 50% to the community (500 million). Of the 50% token supply allocated to the community, DApp community members who use the EDU3 protocol in the early days will receive 3% of the retroactive airdrop rewards (30 million), and the remaining 470 million (47%) EDU can be obtained through the “Participation Mining” system, and users can enter the “Participation Mining” system by joining the EDU3 ecosystem DApp as community members. Participation mining is based on M days as a round, users can stake EDU3, develop based on the EDU3 protocol, create, curate, consume, etc., the earlier and more active each round, the more tokens will be obtained.

The EDU3 protocol will launch “engagement mining” in 2024, so there is still plenty of time for users to participate.

Reference: EDU3 Protocol White Paper v1.0 “DeSchool Protocolization: Web3 Native Education Infrastructure”