Important points
Open Campus launched EDU Chain on Arbitrum Orbit with the aim of strengthening on-chain education infrastructure. The $EDU token serves multiple functions, including serving as a gas, governance, and utility token within the ecosystem.
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Open Campus, a decentralized education initiative backed by Animoca Brands and Binance Labs, launches EDU Chain, a layer 3 blockchain on Arbitrum Orbit, to power education applications and foster a thriving dApp ecosystem designed, the team shared on Friday.
Introducing @educhain_xyz — L3 for Education.
Bringing the $5 trillion education industry and 1.4 billion students and educators around the world on-chain.
Our mainnet is now operational❕
Learn how to join the EDU Chain movement 👇 pic.twitter.com/U3Pl67TZU9
— Open Campus (@opencampus_xyz) January 17, 2025
As an EVM-compatible chain built on Orbit, the platform inherits the security and infrastructure of Arbitrum One while also leveraging the security and liquidity of Ethereum and operates as an independent network.
EDU Chain features an Open Campus (OC) grading system (formerly known as Verifiable Credentials), which enables educational institutions and training centers to issue decentralized and tamper-proof academic records.
OC Achievements gives each learner complete ownership and control over their learning data, said Yat Siu, co-founder and executive chairman of Animoca Brands and board member of the EDU Foundation. said in a statement to Cointelegraph.
According to the project, more than 100 decentralized applications across the categories of trading, learning, gaming, and earning are currently being developed on the EDU chain.
The $EDU token serves as a utility token for the EDU Chain ecosystem. According to Open Campus, $EDU holders can earn rewards by bridging and staking their tokens on mainnet. EDU Chain has allocated $150 million of EDU tokens, representing 15% of the total supply, to mainnet rewards distributed through EDULand NFTs over a three-year period.
This debut follows a testnet campaign that saw impressive activity with 86.2 million transactions and 358,684 active wallets. According to L2Beat, EDU Chain achieved $162 million in total value lock (TVL).
To further expand the ecosystem, Open Campus will host a $1 million dollar hackathon series and a 12-week OC incubator program, providing mentoring, funding, and support to winning projects.
The platform also launched the “Yuzu: First Harvest” campaign. This will allow mainnet users to earn rewards by interacting with the EDU Chain dApp during the first season.
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