OCP-9: US$10M Strategic Node Validator Fund to Enhance the Open Campus Ecosystem and Stakeholder Benefits

ABSTRACT

The Author is proposing that the Open Campus DAO allocate US$10 million from the Open Campus Ecosystem Fund towards acquiring validator nodes from other leading ecosystems.

This Strategic Fund aims to expand Open Campus’s presence in the decentralized landscape while nurturing partnerships with other ecosystems, consequently enriching its educational offerings.

The sequencer fee rewards from operating third-party validator nodes will directly benefit Principal Node Operators and help in diversifying the Open Campus Treasury.

The Open Campus DAO is pivotal in overseeing the OCP-9 Strategic Fund. It falls to the Open Campus DAO community to:

  • Identify target ecosystems.
  • Submit new OCP proposals for fund allocation.
  • Actively participate in voting on these proposals to guarantee proper fund utilization.

MOTIVATION

The Author recognizes the pivotal role of decentralized infrastructure across industries such as gaming, artificial intelligence and finance in shaping the future of education.

By acquiring validator nodes from leading ecosystems, the Open Campus DAO can contribute significantly to this infrastructure while fostering collaborative partnerships with other ecosystems.

This initiative aligns with our mission to democratise access to education and empower individuals worldwide through blockchain technology.

ABOUT THE AUTHOR

Megan Miao is an educator and technologist whose career in education spans across public and private sectors. As Head of Programmes at NewCampus, she builds learning experiences to scale people, teams and organisations. Passionate about underserved areas in education, Megan has spearheaded a wide range of programs across multiple organisations to drive equal access to quality learning, and sits on the OC-X Council to build the largest edtech ecosystem in Web3. Currently, she leads APE_U, a pioneering education partnership between Open Campus and ApeCoin DAO to create new quality standards for governance education.

SPECIFICATION

  1. Identification of Target Ecosystems: Conduct comprehensive research to identify ecosystems with established validator nodes, considering factors such as tokenomics, community engagement, and alignment with Open Campus’s values.

  2. Acquisition Process: Upon identification, an eligible Open Campus DAO member [1] will submit a new OCP with a request to acquire up to $5 million from the total US$10 million Fund outlined in this proposal to acquire validator nodes from selected ecosystems (the “Node Assets”).

  3. Validator Node Operation: Validator nodes purchased through the OC-P 9 will be operated using a Node-as-a-Service (NaaS) provider [2] to maintain, manage, and configure node assets. A NaaS provider shall be nominated and stated in each future OCP that proposes a Node Assets purchase.

  4. Special Advisor for Node Assets Acquisition: In order to assess, negotiate and secure the most favorable commercial terms for Node Assets, a Special Advisor shall be nominated and stated in each future OCP that proposes a Node Assets purchase. The role of the Special Advisor will be to assist the Open Campus DAO in procuring favorable deal terms and executing and completing these deals.

  5. Reward Distribution Mechanism: I will work with The Open Campus Foundation to implement a transparent and automated reward distribution mechanism, ensuring up to 50% of all rewards yielded from Node Assets are pro-rata distributed to operators of Principal Nodes, with the remaining 50% contributing to the Open Campus Treasury.

  6. Process: The Open Campus DAO plays a critical role in the OCP-9 Strategic Fund. Its effectiveness hinges on the active involvement of its members in submitting DAO proposals and participating in the voting process. Here’s how I propose that it works:

  • Acquisition Decisions: DAO members vote to decide if funds from the OCP-9 Strategic Node Validator Fund should be unlocked to acquire in Node Assets.
  • Operational Decisions: DAO members determine the future of Node Assets — whether to continue operating them or to sell them, based on their long-term value potential within the Open Campus ecosystem.
  • Sale of Node Assets: In the event of any sale of any Node Assets, proceeds will be sent to the Open Campus Treasury.
  • Proposal Submissions: All actions regarding acquiring or selling Node Assets are initiated through new OCP DAO proposals, submitted by an eligible Open Campus DAO member.

RESOURCING

  • $10 million from the Open Campus Ecosystem Fund allocated for the acquisition of validator nodes.

  • Up to $200K annually from the Open Campus Ecosystem Fund for node deployment, operation, reward distribution, and governance.

GOALS FOR THIS PROPOSAL

  1. Enhancing Decentralized Infrastructure: Playing a role in strengthening and advancing decentralized infrastructure by acquiring and operating validator nodes from leading ecosystems.

  2. Expansion of Educational Partnerships: Establish collaborative educational partnerships with other ecosystems to broaden Open Campus’s audience and educational offerings. This approach follows the successful model established by the Open Campus collaboration with ApeCoin DAO on the APE_U initiative.

  3. Sustainable Community Rewards: Implement a diversified sustainable rewards model whereby rewards from validator nodes are shared with Open Campus asset holders in a transparent fashion.

  4. Diversification of Treasury: Bolster the Open Campus Treasury fund with diversified asset holdings from other leading web3 institutions contributing to the Open Campus ecosystem’s long-term viability.

  5. Strategic Project Engagement: Through the acquisition of node assets and the distribution of reward tokens to Open Campus asset holders and the Open Campus Foundation treasury, Open Campus secures substantial influence within third-party ecosystems and DAO structures.

By achieving these goals, we can reinforce Open Campus’s position as a key player in the decentralised ecosystem, driving innovation and education in Web3.

RISKS & DRAWBACKS

  1. Market Volatility: Fluctuations in markets may impact the value of rewards generated from validator nodes, affecting the sustainability of the proposed model.

  2. Operation Downtime: Nodes will be operated 24/7 optimally to obtain maximum reward as a validator, however, uptime may be affected by system limitations and network speed. We will delegate the operation to a dedicated Node-as-a-Service (NaaS) operator to ensure smooth runtime.

APPENDIX

Appendix 1: Who is eligible to submit a proposal to the Open Campus DAO?

  • “Proposal” means a proposal put forth by a Tokenholder that satisfies the Proposal Threshold to a vote of all Tokenholders.
  • “Proposal Threshold” at the time any Proposal is made, ownership of at least one (1) Token or NFT (as applicable) at that time.

See OCP-1 for more information.

Appendix 2: What is a node-as-a-service?

Node-as-a-Service (NaaS) is a specialized infrastructure service that simplifies the process of running and managing blockchain nodes, such as Ethereum, Binance Smart Chain, and others.

3 Likes

Super Bullish investment, this proposal is big win for all those investing in Principal nodes, holders of Open Campus assets and the Open Campus community at large. YES, we fully Support and will vote for. :heart:

3 Likes

Thanks @Fullman for the support! Can’t do it without the community :blush:

1 Like

As a student, how can l run the web3 node?

Thanks for the Q rho! Node operators will be integral to maintaining our network & ensuring that everything runs smoothly n securely.

This role is vital as it supports the core infrastructure that our educational initiatives rely on. We’ll be sharing more detailed information soon on how you can contribute.

Two ways to approach upskilling that you can consider:

  1. Learn more about edtech and education use-cases
  2. Understand how existing node infrastructure works

Happy to chat more on this (: