Welcome to the Web3 world, wher digital finance and applications are shown in a revolutionary way through the fusion of blockchain technology, cryptocurrencies, and a pioneering spirit. Are you overwhelmed by the wealth of terms in the Web3 world that you don’t understand? Are those slang barriers preventing you from learning about Web3? Don’t worry! We’re here to explain the obscure terms to guide your learning. Today, we're diving into an essential concept in the world of Web3: [OC Developer Ecosystem Fund].
The OC Developer Ecosystem Fund is a $20 million initiative by Open Campus to drive the development and adoption of education-focused decentralized applications (dApps) on the EDU Chain. It aims to overcome the "cold-start" problem by incentivizing developers to build on the EDU Chain, ensuring a vibrant and sustainable ecosystem for educational dApps. The fund is allocated across three primary categories: hackathon prizes, liquidity incentives, and operational support.
Source: Open Campus Documentation
The fund originated from Open Campus' mission to establish EDU Chain as the leading blockchain platform for education. Recognizing the challenges faced by new blockchain platforms in attracting developers and projects, Open Campus devised this fund to provide substantial incentives, kickstarting development activities on the EDU Chain.
The OC Developer Ecosystem Fund of $20 million is being used in the following:
The OC Developer Ecosystem Fund is a pioneering initiative by Open Campus to establish EDU Chain as the leading blockchain platform for education. By providing substantial incentives and fostering a sustainable ecosystem, Open Campus aims to revolutionize decentralized education and drive long-term growth. With strategic resource allocation, the fund is set to create a vibrant, self-sustaining ecosystem benefiting developers, educators, and the broader community.
If you wish to learn more about terms like the OC Developer Ecosystem Fund, explore more in our HackQuest Web3 Glossary!