What is the LiveEdu Token Utility Model? What Will EDU Tokens be Used For?
LiveEdu is a decentralized peer-to-peer project learning network for people to improve their job skills in future technologies. Projects can be watched live or as recorded video. We are applying what Steemit did for blogging to the education market. Team from Amazon and Y-combinator. LinkedIn bought Lynda.com for $1.5 billion and Lynda was founded 20 years ago. LiveEdu is building today the next generation Lynda.com. Existing business and team.
In this article, we’ll take a look at the LiveEdu token utility model in more detail. We will also explain how EDU tokens will be used on the platform. There are more details in the whitepaper, but this article will give a short overview of the key concepts.
LiveEdu EDU Token Utility Model
Each positive activity a learner, content creator, site moderator or ecosystem participant completes on LiveEdu represents the minting of EDU tokens. EDU tokens will be fully integrated into all core modules and transactions on LiveEdu: a payment method for all financial transactions; to reward premium project creators, positive learner behavior, site moderators, and API ecosystem developers. When EDU tokens fully roll out and integrate into LiveEdu, the chart below shows how EDU tokens will be used on our website and in mobile apps.
All new and existing LiveEdu users will be assigned an EDU token wallet. Each LiveEdu user will receive a small free token amount as a starting balance. For each new user, that creates an account on site, a wallet will automatically be created to store their tokens. The wallet will also be used for incoming and outgoing user token transactions.
Use-Cases for EDU Smart Tokens
Payment Method for all Financial Transactions
EDU tokens will replace fiat payment methods as the main method of payment by users for subscriptions and donations. Subscription prices on LiveEdu will be denominated in USD$ and not EDU units. Viewers cannot use fiat, BTC or ETH directly on LiveEdu. They must first buy EDU tokens and then expense them for activities they do on site. The most important viewer activities will each cost a certain number of tokens.
Viewers buy EDU tokens in $5 increments with a minimum starting amount of $10. The total number of tokens a user will get, at the time of purchase, will depend on the EDU token market price at that time. Viewers will use the tokens for paying subscriptions, downloading project files, sending messages, voting on projects, submitting project requests, requesting custom projects, sending personal Q&A to streamers and donations.
Since we have a subscription model, each month EDU tokens are distributed to paying subscribers. For example, if a user has a monthly single subscription for $10, each month we distribute 30 tokens to him. Viewers, without a subscription can buy EDU tokens to hold them in their wallets or use them for non-subscription-related activities. Token price value changes will not affect the subscription price USD$ nominal value; but only affect how many tokens a user needs to buy a subscription.
Paying Premium Project Content Creators
As shown in the LiveEdu token utility model (see section content creators), premium project creators will be rewarded EDU tokens as partial compensation for their work. Thirteen percent (13%) of all tokens, minted for the purpose of this ICO, are reserved for them and will be distributed over a 3-year period until all premium project creator tokens are allocated.
LiveEdu Token Utility Activities for Learners
Learners on LiveEdu will be rewarded for each positive learning activity they complete; watching live streams, watching project video playlists, total monthly view time, submitting premium project suggestions, inviting friends and following projects.
LiveEdu Token Rewards for Quality Assurance and Site Moderation
Quality assurance encompasses reporting bugs, technical streaming issues, video quality issues and content moderation. LiveEdu users will be allocated tokens for each quality assurance activity. Quality assurance is important as it improves user experience for all learners and content creators.
LiveEdu Token Rewards for LiveEdu API Ecosystem Developers
EDU tokens will be allocated to developers for each application developed on top of the LiveEdu API, that is deployed and used by at least 1000 end users. The best apps and bots will be endorsed by LiveEdu and shared to all LiveEdu users.
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