Peter Zhang
Jan 17, 2025 13:21
Open Campus introduces its EDU Chain mainnet on Arbitrum Orbit, boasting a total value locked of $150 million, leading the Layer 3 blockchain space.
Open Campus, a community-led decentralized autonomous organization (DAO) focused on building an on-chain education network, has successfully launched its EDU Chain mainnet. This new development positions EDU Chain as a formidable player in the blockchain space, particularly within the education sector, with a total value locked (TVL) of $150 million. The mainnet launch, announced by Open Campus, represents a significant milestone as it surpasses all other Layer 3 blockchains in terms of TVL, according to Animoca Brands.
EDU Chain’s Strategic Design and Performance
The 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 a crucial role in its operations. The mainnet’s impressive TVL includes portions of the Open Campus treasury and assets bridged by liquidity providers, highlighting the robust support and confidence from stakeholders.
Following a successful testnet phase, which recorded over 86.2 million transactions and engaged 358,684 unique active wallets, EDU Chain is set to deploy 47 decentralized applications (dApps) onto the mainnet. This transition from testnet to mainnet is expected to further bolster its ecosystem and user engagement.
Initiatives to Boost dApp Development
Open Campus has initiated several programs to increase the number of dApps on the EDU Chain platform. One major initiative is an online hackathon series, offering $1 million in prizes to encourage innovation and development. The hackathons have already attracted thousands of participants, with the first two events focusing on DeFi and infrastructure, followed by gamified education and DeFi applications. The third hackathon is scheduled to open for registration in February 2025.
Additionally, the Open Campus Incubator program offers a 12-week incubation period for hackathon winners, providing them with the opportunity to gain traction and secure funding for their projects.
Community Engagement and Future Prospects
To further engage its community, EDU Chain has 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 emissions, with up to 150 million EDU tokens allocated for rewards.
Yat Siu, co-founder and executive chairman of Animoca Brands, emphasized the transformative potential of the EDU Chain mainnet in integrating blockchain technology with education. Shan Han, portfolio manager and head of Ecosystem at Animoca Brands, highlighted the project’s robust infrastructure and the strong trust it has garnered among developers and stakeholders.
The launch of the EDU Chain mainnet marks a pivotal advancement in the intersection of blockchain technology and education, aiming to revolutionize how educational systems operate and interact globally.
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