Open Campus, the community-led decentralized autonomous organization (DAO) building an on-chain education network, announced it has launched the EDU Chain mainnet, a Layer 3 blockchain on Arbitrum Orbit. EDU Chain is designed for consumer-facing education apps and on-chain education finance (EduFi), powered by the EDU token.
With the launch of its mainnet, EDU Chain has become the leading Layer 3 blockchain as measured by its total value locked (TVL), which amounts to US$150 million (according to data on L2beat as of 17 January 2024). EDU Chain’s TVL includes a portion of the Open Campus treasury and assets that have been bridged to EDU Chain by liquidity providers (LPs) contributing to EDU Chain.
After a successful testnet campaign with over 86.2 million transactions and 358,684 unique active wallets interacting with the EDU Chain testnet, the 47 dApps already on EDU Chain testnet will begin deploying their dApps to the EDU Chain mainnet. To explore EDU Chain available dApps, visit the EDU Chain ecosystem page.
EDU Chain aims to increase the number of dApps on its platform through two initiatives. The first initiative is an online hackathon series with the equivalent of US$1 million in prizes. The inaugural hackathon event focused on DeFi and infrastructure dApps and attracted over 4,500 participants and 725 dApp submissions. The second hackathon event for developers interested in creating gamified education and DeFi dApps attracted 5,160 participants and 836 dApp submissions. The third hackathon event in the series will open for registrations in February 2025.
The second initiative to increase the number of dApps on EDU Chain is the Open Campus Incubator, a 12-week incubation program to assist hackathon winners in gaining traction for their dApps on EDU Chain. Participants also have the opportunity to pitch for grants and VC funding upon completion.
Additionally, EDU Chain today announced Season 1 of its mainnet points program, in which users earn Yuzu points by interacting with EDU Chain mainnet dApps. Users can use Yuzu points to unlock EDU token emissions. Up to 150 million EDU tokens have been set aside for mainnet rewards.
Yat Siu, co-founder and executive chairman of Animoca Brands, and a council member of the EDU Foundation, said: “The EDU Chain mainnet launch marks a pivotal step towards a future where education seamlessly integrates with blockchain technology, transforming the way that students and educators learn and interact with educational systems.”
Shan Han, portfolio manager and head of Ecosystem at Animoca Brands, said: “With a TVL of US$150 million, EDU Chain currently has the largest TVL across all Layer 3 blockchains today. This indicates a strong level of trust in the project and a robust infrastructure for developers, establishing EDU Chain as the premier destination for people looking to engage in the future of education on-chain.”
For more information about EDU Chain visit its website at https://educhain.xyz.
About Open Campus
Open Campus is a community-led DAO that is building an on-chain education network to empower both educators and students. Core contributors to the Open Campus DAO include Animoca Brands, TinyTap, NewCampus, RiseIn, and HackQuest. Together, they are working with Open Campus to enhance the education system for teachers, learners, and institutions by using innovative blockchain protocols and funding initiatives. Open Campus has launched EDU Chain, a Layer 3 blockchain on Arbitrum Orbit designed for consumer-facing education apps and on-chain education finance (EduFi), powered by the EDU token.