OCP-10: Establishment of Developer Ecosystem Fund and Node-Lease Program for EDU Chain

ABSTRACT

This proposal aims to establish a Developer Ecosystem Fund and Node-Lease Program to incentivize developers to build on EDU Chain, addressing the cold-start problem and fostering a vibrant, sustainable ecosystem of education dApps. We propose a $20 million fund, with $4 million allocated for hackathon prizes and future incentives, $14 million for liquidity incentives, and $2 million for operational support. We expect this fund to support developers on EDU Chain for at least the next 3 years.

Additionally, we propose a node-lease program involving 200 nodes to be leased to ecosystem partners. This program will create a sustainable ongoing incentive fund by splitting node proceeds 50/50 between partners and the community fund, aligning incentives, encouraging economic activity on EDU Chain, and creating a self-sustaining source of funding future developer incentives.

To oversee the deployment of funds and manage these initiatives, we propose establishing a governance council consisting of five members. This proposal aims to kickstart developer engagement, with the first hackathon scheduled for July 15, 2024.

MOTIVATION

EDU Chain is poised to become the leading education-focused blockchain, core to Open Campus’ mission of establishing a decentralized platform for educational institutions, edtech companies, and partners. However, to realize this vision, we must address the critical challenge of the “cold-start” problem – the initial lack of developers and applications on a new blockchain.

To overcome this challenge and establish EDU Chain as a thriving ecosystem, it is imperative to provide substantial incentives that will attract talented developers and innovative projects. By creating a robust Developer Ecosystem Fund and implementing a Node-Lease Program, we aim to:

Accelerate the development of education-focused decentralized applications (dApps) on EDU Chain. Create a sustainable model for ongoing ecosystem growth and developer engagement. Align the interests of developers, ecosystem partners, and the broader Open Campus community. Establish EDU Chain as the go-to platform for building the future of decentralized education. This proposal seeks to lay the foundation for a vibrant, self-sustaining ecosystem that will drive the adoption and utility of the $EDU token, ultimately benefiting all token holders and participants in the Open Campus community.

SPECIFICATION

Developer Ecosystem Fund Total allocation: $20,000,000 in $EDU tokens a) Hackathon Prizes: $4,000,000

• $1,000,000 for initial hackathon prizes
• $3,000,000 for future incentives including prizes and grants

b) Liquidity Incentives: $14,000,000

• To provide liquidity mining rewards for DEXs and lending protocols built on EDU Chain

c) Operational Support: $2,000,000

• To support operational expenses related to developer initiatives such as hackathons
• To support operational costs of promising dApps and projects
• Governance Council remuneration

Node-Lease Program

• Number of nodes to be leased: 200
• Eligibility: Ecosystem partners, developers, and educational institutions
• Revenue split: 50% to lease holder, 50% to community fund
• Lease terms: To be determined by the Governance Council, with regular reviews

Governance Council

• Composition: 5 members (profiles provided below)
• Responsibilities: Outlined in the Governance Council Profiles section

TIMELINE

Proposal Approval: [Date TBD] Governance Council Formation: Within 1 week of approval First Fund Allocations: Within 1 month of approval Node-Lease Program Launch: Within 2 months of approval First Hackathon (Semester 1) Kick-off: July 15, 2024 Second Hackathon (Semester 2): [Date TBD, approximately 4 months after the first] Third Hackathon (Semester 3): [Date TBD, approximately 4 months after the second] Program Review: Annually, with the first review in June 2025 RESOURCING

The $20,000,000 Developer Ecosystem Fund will be sourced from the existing EDU token treasury. The allocation will be as follows:

$4,000,000 in $EDU tokens will be set aside for hackathon prizes and future incentives. $14,000,000 in $EDU tokens will be allocated for liquidity incentives for protocols building on EDU Chain. $2,000,000 in $EDU tokens will be allocated for operational support, including Governance Council remuneration. The fund will be managed by the Governance Council, who will oversee the distribution of resources according to the specified goals and timeline. The Council will also be responsible for managing the Node-Lease Program, including the allocation and monitoring of the 200 nodes to be leased to ecosystem partners.

To ensure the necessary oversight mechanisms are in place, any spend and/or investment proposals by the Governance Council must be formally ratified by the Open Campus Council before they are deemed valid.

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Due to a word count limit only a section of OCP-10 was copied to Snapshot. The full OCP-10 proposal can be viewed at forum.opencampus.xyz