OCP-5: OC100 Competition Prize Pool and Funding

ABSTRACT

Open Campus launched OC100 in February 2024, in collaboration with Forbes and Animoca Brands (the “Collaboration Partners”). As an initiative, OC100 is strongly aligned with Open Campus’ mission, a big part of which is to give recognition to educators as key stakeholders in the education sector. The competition aims to identify, elevate and reward influential educators who play a crucial role in onboarding and engaging learners into Web3 through different educational mediums.

We are proposing the following allocation of funds from the Ecosystem Fund:

Competition prize pool: An allocation of $200,000 USD worth of EDU as a prize pool for OC100, an Open Campus branded competition that we are seeking to establish in collaboration with ForbesWeb3, the Web3 arm of the media giant Forbes and Animoca Brands.

Management Fee & Operating Expenses: We propose a payment of $160,000 USD in EDU to NewCampus (the “Operator”), as the exclusive operator of OC100 to cover its operating expenses and management fees.

Owing to the nature of the competition, Open Campus will benefit from an unprecedented level of exposure and from both mainstream media (through Forbes and other media outlets) and within Web3 on both Web3 media and on Crypto Twitter at the grassroots level.

MOTIVATION

The majority of news and insights (or known colloquially as “alpha”) about Web3, predominantly originate from social media networks, with X being a notable example. This information plays a crucial role in educating Web3 users, offering them the latest market updates and tutorials that enhance their understanding and ease their learning journey in Web3. The creators of this content are often underappreciated, yet they play a pivotal role in advancing Web3 and deserve acknowledgment and celebration for their contributions.

Open Campus being an educational platform that aims to provide accessible and engaging education through Web3 technologies sees OC100 competition as a means to identify and recognize influential educators who play a crucial role in onboarding and engaging learners into Web3, which helps Open Campus to amplify the reach of its educational mission and inspire more individuals to explore and understand the potential of Web3.

To enhance the competition experience and incentivize participation, we would like to request for the allocation of a grant of 200,000 USD in EDU tokens, to be shared amongst the winners. Grants to winners will be unlocked in tranches based on KPIs to be agreed upon with each winner. The purpose of the grant is to support the winners’ future content creation to further strengthen their ability to better educate the masses about Web3.

Supporting the competition grant with EDU tokens not only provides financial assistance to the winners but also contributes to solidifying Open Campus’s brand image, sphere of influence and pole position as the premier education project in Web3.

SPECIFICATION

Competition Structure

The competition will be split into three Cohorts from February - April 2024. Each cohort will last approximately 4-6 weeks, consisting of the following stages:

  1. Nomination phase:
  • OC ID holders nominate KOLs respective to each category
  1. Initial review phase:
  • Judging Panel reviews submissions based on predefined criteria
  • Creates initial shortlist to proceed to public voting phase
  1. Public Voting phase:
  • Process: OC ID holders have one vote per category every day during this phase and users will be encouraged to return to engage and vote every day.-
  • Final results will be compiled from the weight of the public vote relative to the expert panel’s judgment
  1. Post-Competition Engagement:
  • Forming of OC Fellow Encourage ongoing engagement with the top 100 through follow-up content, interviews, and collaborations.

Here is a diagram of the structure and timeline. Please note this is purely indicative and subject to further change by the Operator:

Competition Outcome

A total of 100 OC100 winners will be selected from the following nomination categories.

Cohort 1

  1. Gaming
  2. Content Creation & Storytelling
  3. Technical Educators & Developers

Cohort 2

  1. Community Builders & Leaders
  2. Entrepreneurship & Innovation
  3. Investment & Financial Insight

Cohort 3

  1. Cultural & Artistic Impact
  2. Social Impact & Ethics

These winners will be selected through a rigorous process judged by a panel of prominent Web3 thought leaders and the public. The public can freely nominate their favorite creator to OC100 within a time period, which will then be reviewed and shortlisted by the judges. After that, the public will have the opportunity to vote for creators within each category. Final results will be based on a combination of weightings between the judges and public votes.

The 100 winners from all categories will be sharing the 200,000 USD grant in EDU and have the chance to join the OC Fellowship program to forge lasting connections with influential Web3 thought leaders.

RESOURCING

Competition Prize Pool

  • The prize grant of $200,000 USD in EDU from the Ecosystem Fund, to be released from the Open Campus DAO MultiSig to the winners of the competition.

  • The amount that each winner is entitled to will be jointly decided upon between the Collaboration Partners no later than 7 days prior to the announcement of the winners of each Cohort.

  • The 100 winners will need to submit their wallets to the Open Campus team after the announcement of results. The funds will be transferred directly from the Ecosystem Fund into these wallets.

  • Open Campus, Animoca Brands and ForbesWeb3 shall have the right to final decision in the event of any dispute.

Management Fee

NewCampus has submitted a proposal to the Administrator to act in the capacity of Operator for the OC100 Competition and handle all operational aspects of OC100, including judge coordination, application review, event moderation, marketing and content creation. In consideration for these services, New Campus will charge a management fee of $160,000 USD to be paid in EDU from the Operational Expense Treasury, covering human resources and onboarding fees.

The fees will be disbursed in phases based on the completion of milestones determined by the DAO administration. The disbursement schedule will consist of three phases, occurring every three months starting from the launch of the competition.

NewCampus has been a great partner and long-standing friend to Open Campus. Through their track record on the OC-X initiative, we believe they have demonstrated a proven ability to execute and manage complex projects.

See Appendix 2 for a breakdown of the scope of engagement and breakdown of expenses submitted by NewCampus.

RISKS & DRAWBACKS

The funding disbursed to winners will be subject to performance milestones to ensure that interests between Open Campus are aligned with each winner. In addition, the DAO Administrator will work with the Operator to 1) ensure a detailed work plan will be put in place, 2) conduct periodic check-ins to ensure they are following the timeline.

GOALS FOR THIS PROPOSAL

The objective of this proposal is to authorize the allocation of $200,000 (in EDU) towards the prize pool for OC100 winners and to provide a $160,000 payment of management fees to New Campus for their role as the operator and coordinator of OC100.

Appendix

Appendix 1: About OC100

OC100 is a pioneering competition to spotlight the brightest minds in Web3, hosted by Open Campus, Animoca Brands and ForbesWeb3. This collaboration aims to recognize and elevate the content creators who are driving the next phase of Web3 adoption through educational online content.

The competition follows a multi-phase format, beginning with a nomination phase where OC ID holders can nominate key opinion leaders (KOLs) within various categories. The nominations are then reviewed by a judging panel consisting of prominent Web3 thought leaders and experts who shortlist the candidates for the public voting phase.

During the public voting phase, which lasts for two weeks, the public has the opportunity to vote for their preferred nominees in each category. A dedicated platform is provided for the voting process, and detailed profiles of each nominee are made available to help voters make informed decisions. The combined votes from the public and the judging panel determine the final winners.

The OC100 will have 8 nomination categories including Cultural & Artistic Impact, Content Creation & Storytelling, Technical Educators & Developers, Community Builders & Leaders, Entrepreneurship & Innovation, Investment & Financial Insight, User Experience & Design, and Social Impact & Ethics. There will be a final of 100 winners who will be getting a share of the $EDU prize pool and invited to be a part of a dedicated fellowship with other OC100 entrants.

For more information, please visit 100.opencampus.xyz.

Appendix 2: Scope of Engagement and Expenses Breakdown

The management fees will cover New Campus’ expenses and services for the following:

Payroll:

  • Project Lead
  • Learning Experience Designer
  • 2 Operations Support Analysts

Management activities:

Before competition starts

  • Developing the website and assets
  • Designing the competition structure and journey

During the competition

  • Managing and moderating applications
  • Coordinating with the judges
  • Creating content and competition updates for Open Campus social media, including conducting spaces featuring influencers and judges

Post competition

  • Supporting post-competition marketing and promotion on Open Campus, Forbes, and Animoca Brands
3 Likes

We love the initiative for the competition.

It brings together a lot of people into the public eye as well.

Event of such magnitude requires expenses and it better to be prepared than to worry later on.

Excited to see how the event unfolds.

3 Likes

I believe in the potential of this proposal as it brings value, growth and innovation to Open Campus and I am pleased to approve it. :heart:

This is a big opportunity to bring eyes into the project.

Forbes has over 150m monthly readers, and the curation of judges and nominated participants will surely provide significant reach from the Web3 side.

Very excited to have such influential brand partners trust Open Campus and look forward to building a long term relationship with them.