MetisEdu ($MTS) is a Korean massaive open online courses (MOOC) education platform with its token $MTS issued on both Ethereum and Klaytn blockchain.
Metis believes in empowering individuals to attain their true potential through education. However, education is frequently underutilized due to difficulties of accessing education and students may not always have the right incentive to complete their education. Metis solves this issue by providing a direct economic incentive for users which is representative of the economic value to society that is not captured by the users themselves. Through Metis, students have a financial incentive to study and pick up skills that are in demand within society. These students learning and picking up skills that the industry is lacking can earn money while being educated.
To gain MTS tokens, users will need to complete milestones in their online courses. The MTS token have several use cases:
1. Governance Token
a. MTS token owners can create governance proposals and vote on proposals that will directly affect the MetisEdu protocol.
Some of the decisions that are influenced through voting are:
- i. Total rewards distributed upon completion of each course (courses in-demand by society can be voted on to increase rewards earned from course completion to incentivize more users to pick up the course)
- ii. Type of courses and education institutions that will be allowed to participate in the provision of courses on the MetisEdu platform
b. MTS token can also be delegated to trusted educational institutions/organizations who can cast votes on behalf of the MTS users.
c. MTS token holders can vote on MetisEdu tutor applicants after viewing their sample lectures.
- i.If the tutor that you voted on won the majority of the votes, you will receive dividends from the revenue earned from the tutor’s lectures. Dividends will be paid with the TriumphX project’s native token TRIX monthly.
- ii. Furthermore, you will receive the NFT representing a part of the ownership of the tutor’s videos. You can trade them on the marketplace with others. If more users take the tutor’s lectures, there will be more dividends distributed to NFT holders. Therefore the value of NFT will rise.
2. Staking by educational institution
a. To qualify for the provision of courses on MetisEdu, each qualifying educational institution will need to stake a particular amount of MTS tokens to provide their courses on the MetisEdu platform.
b. Institutions can get discounts for platform commission.
c. Differentiated marketing packages, which will increase lecture exposure on the platform, will be provided based on the amount staked.
3. Staking by students to boost incentive rewards
a. Users can stake a certain amount of MTS token as a signal of their dedication to completing the class. Upon completion, they can receive multiple times of their rewards. (e.g. a user who has staked tokens may receive up to 5 times more token rewards as incentive).
- i. This system gamifies the lessons taken and increase the incentive for users to complete their classes. Users are also incentivized to work harder to complete their classes earlier as it increases their rewards upon completion.
- ii. Staking can also reduce fees for certain selected classes and platform access in view of their supports and belief in the MetisEdu system.
4. MTS tokens can be used as a currency for payment of classes or for the redemption of rewards for their work in completing the classes.
a. Class fees may be discounted if payment is made using MTS tokens
b. Given that MTS token price may fluctuate, MetisEdu platform will be connected to external oracles to obtain data on realtime prices of MTS token and peg the price of the classes and incentive according to the current market price. This ensures
that the incentive of the students from completing the courses and the payment received by the education institution remains stable.
c. MTS tokens can also be earned by students through a mentorship program. Students who have completed the course can introduce new students to study in the program and they will serve as mentors to guide the new students. Upon completion of the course by the new student, the mentor will also receive a portion of incentive as a reward for
helping new students. Through our experience, we have discovered that mentorship has greatly enhanced the learning experiences of new students and increased the efficiency of their mastery of new skills.
