OCP-5: OC100 Competition Prize Pool and Funding

ABSTRACT

Open Campus launched OC100 in February 2024, in collaboration with Forbes and Animoca Brands (the “Collaboration Partners”). As an initiative, OC100 is strongly aligned with Open Campus’ mission, a big part of which is to give recognition to educators as key stakeholders in the education sector. The competition aims to identify, elevate and reward influential educators who play a crucial role in onboarding and engaging learners into Web3 through different educational mediums.

We are proposing the following allocation of funds from the Ecosystem Fund:

Competition prize pool: An allocation of $200,000 USD worth of EDU as a prize pool for OC100, an Open Campus branded competition that we are seeking to establish in collaboration with ForbesWeb3, the Web3 arm of the media giant Forbes and Animoca Brands.

Management Fee & Operating Expenses: We propose a payment of $160,000 USD in EDU to NewCampus (the “Operator”), as the exclusive operator of OC100 to cover its operating expenses and management fees.

Owing to the nature of the competition, Open Campus will benefit from an unprecedented level of exposure and from both mainstream media (through Forbes and other media outlets) and within Web3 on both Web3 media and on Crypto Twitter at the grassroots level.

MOTIVATION

The majority of news and insights (or known colloquially as “alpha”) about Web3, predominantly originate from social media networks, with X being a notable example. This information plays a crucial role in educating Web3 users, offering them the latest market updates and tutorials that enhance their understanding and ease their learning journey in Web3. The creators of this content are often underappreciated, yet they play a pivotal role in advancing Web3 and deserve acknowledgment and celebration for their contributions.

Open Campus being an educational platform that aims to provide accessible and engaging education through Web3 technologies sees OC100 competition as a means to identify and recognize influential educators who play a crucial role in onboarding and engaging learners into Web3, which helps Open Campus to amplify the reach of its educational mission and inspire more individuals to explore and understand the potential of Web3.

To enhance the competition experience and incentivize participation, we would like to request for the allocation of a grant of 200,000 USD in EDU tokens, to be shared amongst the winners. Grants to winners will be unlocked in tranches based on KPIs to be agreed upon with each winner. The purpose of the grant is to support the winners’ future content creation to further strengthen their ability to better educate the masses about Web3.

Supporting the competition grant with EDU tokens not only provides financial assistance to the winners but also contributes to solidifying Open Campus’s brand image, sphere of influence and pole position as the premier education project in Web3.