Education is the platform on which the world runs. Online learning platforms have taken the sector by storm, but still, face problems with user retention due to lack of motivation from students and teachers. Tutellus aims to disrupt the Educational Technology sector by offering students rewards to learn!
With a student base of 1 million and around 130,000 video courses, Tutellus is the world’s first decentralized education technology platform. The Tutellus platform functions on the NEM blockchain for its high transaction speed and due to the support, NEM offered during the development process of the platform.
The Tutellus platform aims to reward students and teachers for participating in the learning process, through two tokens. The tokens in question are TUT and Smart TUT or STUT, which are interoperable with the NEM blockchain. These tokens will be used for functionality over time, to buy products and services, for serving as a measure of relevance, and for governance purposes.
Relevance is a metric used on the platform to measure the knowledge and activity of users in skills and micro-skills. It can be lost or gained by interacting with courses in an organic way. It is a means of rewarding user interaction.
STUT and TUT tokens:
The TUT token is used as currency on the Tutellus platform, with which courses can be bought. It is limited in number. The courses bought using the token will be available at a discounted price. Services available on the platform are promotional and marketing services and third-party services.
TUT tokens are also used to access scholarship programs on the platform, and influence governance decisions. TUT can also be exchanged by users on the platform, and redeemed for fiat.
TUT tokens cannot be bought outside the platform, instead is acquired through:
- ICO or the bug bounty system
- Scholarships afforded by Tutellus
- Loyalty programs on the platform
- Trading with STUT upon completion of course
The STUT token is used to reward users who contribute value to the platform, with the number of STUT determining the relevance and importance of the user. A higher number of STUT results in more benefits for the STUT holders. STUT is acquired when a student interacts with a course that he/she is enrolled in, by engaging in discussion and contributing to the value.
The maximum amount of STUT that can be gained from a course is the value of the course in Euro multiplied by 100. A student can earn STUT by:
- Asking relevant and insightful questions on the subject of a course
- Providing valid answers to questions from other students
- Applying the content taught in practical ways
- Successfully passing exams
- Submitting projects and related works
- Taking part in evaluations of other students via a rubric system
- Taking part in tutorials with other students
- Reviewing the course, rating it, and providing feedback for the improvement of both the teacher and Tutellus
When a course is completed, the student has the option to trade 50% of their earned STUT into TUT.
Teachers on the platform can earn income through two streams. Primarily, they get 70-85% of the price paid by the student when they buy a course. Secondarily, they get income through subscription service fees, which corresponds to the time the student spends in their course.
There are two potential ways that scholarships and TUT tokens will be distributed on the platform. Third-party interests with targeted students matching offer with the demand to solve a market needs for trained professionals. The Tutellus platform also matches people from developing countries to learn the most sought-after skills available. The revenue earned from these streams will be distributed in a 30:20:50 ratio to students, teachers and Tutellus respectively.
The tokens are distributed as follows:
- 600 million tokens will be offered during the token sale. Up to 300 million additional tokens may be issued during the sale if discounts are applied. No more tokens will be issued after the ICO.
- 100 million tokens for the team, with one-year vesting.
- 100 million tokens for advisors, PR and others.
- 200 million tokens to be kept in a pool in order to activate the ecosystem.
The technology for the system functions on layers.
The roadmap for the system is as follows:
Q. What are the changes that will be seen in the user experience? How are you planning to spread knowledge of the changes?
Evangelizing and teaching the community about blockchain benefits are the most important issues to work with our users for the next year. We’ve started with basic courses about tokens and crypto, and we will create new courses about that. The transition will be progressive and transparent for users: the platform or fiat money won’t disappear, users will have new services based on tokens but supporting the classical ones.
Q. Why have you designed the token model as it has been designed?
A double-sided token model lets us separate the financial power from the governance system: with the decentralized model we empower users with relevance, that can be users who hold the liquid tokens or not. So there’s no overlapping between them.
Q. As mentioned in section 4.2.2, can you provide clarity on the token flow state model?
The token flow model works as a Cash Flow state model, increasing depending on the time we activate the “business model with companies”. Revenue comes from students who are paying in crypto, teachers who promote services and companies who use the platform for recruitment services, and expenditures come from scholarships and TUT tokens traded from STUT.
So despite the fact we give TUT tokens to the students who want to earn money, the effort, to be able to earn them, has also a direct impact on the revenue: to earn them they have to help other users, so the platform conversion also raises. The result is, again, more revenue.
Q. In relation to the scholarship programs launched for education by Tutellus, which NGOs are you planning to partner with?
We have already our first partnership with GIVE Foundation, and we are looking for NGOs and foundations with direct access to people in underprivileged countries. The more they are in the EdTech industry, the better.
Q. In relation to the scholarships offered under section 4.2.1, which universities are you planning to approach for them? Will the grants be offered by Tuttelus?
We’ll start with Latin and Spanish universities, where we hold most of our users and content until now. The University of Alicante in Spain should be the first one. Yes, we will offer the grants focused on the areas we think there are more job opportunities.
To know more about Tutellus, click here!
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