Binance, the world’s largest cryptocurrency exchange, has announced Open Campus as the next project to be featured on Binance Launchpad, a platform allowing users to participate in token sales of up-and-coming crypto projects.
The preparation period for the Open Campus initial exchange offering on Binance Launchpad will start on April 23 and last until April 28, 2023. In total, $2.5 million worth of EDU tokens (at an exchange rate of 1 EDU = 0.05 USD) will be distributed among participants.
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What is Open Campus?
Open Campus is a web3 education protocol that allows communities to create, distribute, and promote educational content they thinks is valuable for the broader society. In addition, the Open Campus protocol is designed to enable educators to earn revenue from their efforts.
The educational content produced via Open Campus can be tokenized into NFTs, meaning that educators can utilize various revenue-sharing strategies that can be coded into the smart contract. Here’s a quick excerpt of that functionality taken from Binance’s research paper:
“Revenue generated from the content will be stored in a smart contract, co-owners will be able to withdraw based on their contribution (e.g. teachers for creating the content, publishers for marketing and localization).”
There are three fundamental concepts Open Campus is built upon. Here’s how the Open Campus team explains each of them:
Communities can utilize blockchain technology to fund, co-own and learn from educational content that fits their needs.
Creators launch their content on the protocol by offering promotional rights through Publisher NFTs, where co-publishers can earn revenue based on their contributions.
Philanthropists can support educational causes directly and track their donations on-chain through Smart Donations.
The native token of Open Campus is EDU, which fulfills governance, payments, and on-chain revenue-sharing use cases. In addition, EDU can be used to “incentivize and onboard” new users through Open Campus partners, and for purchasing the Publisher NFTs.
The Open Campus protocol has already secured its first adopter, a highly successful kids app, TinyTap. TinyTap is among the 10 top highest-grossing kids-focused mobile apps in both Android and iOS ecosystems. TinnyTap has over 100 thousand creators and more than 9 million families.
How to participate in the Open Campus token sale on Binance Launchpad
The Open Campus team will be selling 50 million EDU tokens through Binance Launchpad, which corresponds to 5% of the token’s total supply (1 billion tokens). Each token will be sold at a price equivalent to $0.05, which means that the team is looking to raise $2.5 million through the sale.
Here are the important dates you should keep in mind when participating in the Open Campus token sale:
Start End Preparation Period April 23 (00:00 AM UTC) April 28 (00:00 AM UTC) Subscription period April 28 (06:00 AM UTC) April 28 (09:00 AM UTC) Calculation period April 28 (09:00 AM UTC) April 28 (10:00 AM UTC) Final token distribution April 28 (10:00 AM UTC) n/a
The maximum investment a single user will be able to make into the Open Campus token sale on Binance Launchpad is the equivalent of $15,000. However, not all users will be able to invest this much, as each individual user’s allocation will be determined by their BNB token holdings.
If you want to participate in the Open Campus launchpad, you have to open an account on Binance and verify it. For more information, check our guide on how to invest in an IEO on Binance.
Here’s a brief explanation of how to participate in the Open Campus Launchpad:
Step 1: Create an account on Binance
Step 2: Verify your account
Step 3: Select Open Campus on the Binance Launchpad homepage
Step 4: Commit your BNB
Step 5: Wait for the EDU token distribution on April 28, 2023, at 10:00 UTC
For additional information, you can check out the performance of some of the previously completed IEOs on Binance Launchpad:
Project Current ROI (in USD terms) ROI 7 days af ter launch Space ID 31.1x 17.4x Hooked Protocol 20.6x 24.7x STEPN 37.5x 55x Alpine F1 Team Fan Token 2.3x 3.6x League of Kingdoms 3.2x 12.7x Voxies 1.2x 14.6x Porto Fan Token 2.4x 5.5x Lazio Fan Token 2.7x 11.5x Beta Finance 1.5x 36.1x
*Data based on a snapshot taken on April 21, 2023, at 16:00 PM (UTC)
When will the Open Campus token sale on Binance start?
Binance will start recording users’ BNB balances for the purposes of the Space ID token sale on April 23 at 00:00 UTC. This will last until April 28 at 06:00 UTC, when the subscription period will be open and eligible users will be able to commit to buying ID tokens.
Tokens will be distributed to participants immediately after the token sale concludes, and we can also expect EDU to be listed for trading on Binance shortly after the token sale.
Thanks to the announcement, we’re already seeing increased demand in the markets for BNB. The cryptocurrency is up about 1% in the last 24 hours. In comparison, both Bitcoin and Ethereum have lost over -2% each in the same time period.
