The Blockchain University Launches Rewards Model For Learning

one0x is a knowledge supply-chain solution designed to facilitate the exchange of education on the blockchain. The primary idea behind one0x is to quantify education as a commodity which can then be distributed through incentives. one0x enables the participants to both, share and receive knowledge, and receive rewards. This is made possible through the platform’s rewards model, the first iteration of which is now live on The Blockchain University.

one0x’s reward model has two primary components:

• Gyan
• Karma

Gyan — the standard unit of value for measuring the amount of knowledge gained and shared. Gyan is the knowledge score attached to every course or project on the platform. A minimum one hour of learning amounts to one Gyan point. Gyan points are awarded when users attend classes, post questions and answers in a community, take up group projects, and participate in work contracts. Users’ Gyan points at the end of each week determine their Karma rewards.

Karma is one0x’s own ERC20 token. Its value is attached to Gyan. That means it becomes stronger with the increase in participation on the platform. Karma is the main financial instrument of distributing rewards on the platform. Participants can earn Karma tokens by increasing their Gyan balance, curating Gyan value for others’ teaching contracts, and creating high-quality content.

Karma Rewards Pool

Every week, the platform mints 5% of the already circulating Karma in its ecosystem. 90% of the total rewards are distributed between the top 10% of the Gyan rankers. All the users are accorded Karma token on the basis of their Gyan score at the end of a week.

The rewards pool is divided into the following pools:

• Knowledge Pool
• Curator Pool
• one0x Nodes

Knowledge Rewards (65%)

This is the biggest segment in the rewards pool. It allocates reward tokens for activities related to teaching and learning. Clearly, one0x considers teaching as the most important part of the exchange process, and rightly so, due to the value it adds to the ecosystem. Therefore, the platform awards more Gyan points to the teachers.

It is fairly obvious that most of the top Gyan rankers will be teachers. The rewards mechanism, however, creates an elliptical curve to locate the users with the highest Gyan scores in order to ensure that the students with high Gyan scores are also rewarded equally.

Curation Rewards (15%)

Curating classes on the basis of quality is an important contribution to the platform’s functioning. Users who discover high-quality courses and assess the Gyan score attached to every class are rewarded for their contribution. This reward incentive encourages user participation on the platform and also shows the utility level of every course through reviews.

The curation rewards pool is further divided into the following categories:

• Non-Participant Review (35%) — The participants’ votes for any content are included in this category. Users can upvote or downvote any content. For instance — questions, answers, classes, comments, and more. The value of each vote varies on the basis of certain criteria.
• Participant Review (35%) — This form of curation includes reviews from teachers and students. Both parties review each other through stars and comments which determine their ranks. They are offered curation rewards based on this.
• Review of Contract Value (30%) — Every teacher can change the price of their content once a week. Users can post a value, known as counter quote, to change this amount. If the teacher changes the content’s price, all users with counter quotes are rewarded on the basis of the proximity of their quote to the changed price.

one0x Nodes Rewards (20%)

This pool rewards the nodes that are responsible for initiating and handling the operations of one0x’s distributed database on the blockchain. Nodes execute all transactions on Ethereum and bootstrap the ecosystem. They hold an indispensable position in the ecosystem and are, hence, rewarded for their work.

Rewards Payout

one0x rewards work the same way as an auction; the reward amount is predefined and users ‘bid’ their work quotient to earn it. In addition to that, rewards are accorded to everyone who contributes positively to the platform, proportional to the size of their contribution.

Rewards are paid at the end of each week primarily on the basis of three chief determinants:

• Floating Gyan balance
• Value of vote
• Popularity score of the content

This reward system is built on the psychology that ‘everyone wins something’. At its core, it presents the idea that small rewards can lead to bigger rewards, thereby, driving participation on the platform.