What is LEARNtoken (LEARN)?
LEARN is the governance token of LEARNcollective, a decentralized web3 educational hub. It was originally launched in 2022 by tlogs.eth to teach web3 concepts during in-person web3 courses at CryptoLearnLab in Austin, TX.
LEARNcollective Governance
LEARNcollective utilizes LEARNtoken to represent voting power on governance proposals via its Snapshot space. Governance proposals are submitted to make changes to LEARNcollective, approve new projects, or distribute LEARN from a LEARNcollective treasury wallet. Only members of the LEARNalumni status have the ability to submit governance proposals. Check out LEARNcollective Initiation for more on LEARNcollective status.
Once a governance proposal is submitted, there is a 1-day cooling period before a 7-day voting period begins. Each LEARNtoken held equates to one vote on each active proposal during its voting period. LEARNtoken must be held on Ethereum for participation in LEARNcollective governance. Any LEARNtoken holder on Ethereum can vote on active governance proposals. There is a 1m LEARN quorum that must be met in order for a proposal to pass.
Once a governance proposal is submitted, there is a 1-day cooling period before a 7-day voting period begins. Each LEARNtoken held equates to one vote on each active proposal during its voting period. LEARNtoken must be held on Ethereum for participation in LEARNcollective governance. Any LEARNtoken holder on Ethereum can vote on active governance proposals. There is a 1m LEARN quorum that must be met in order for a proposal to pass.
LEARNtoken Distribution
The maximum supply of 100 million LEARN was minted on Ethereum upon launch of the LEARNtoken smart contract and split between five addresses as follows.
LEARNcollective.eth (20m LEARN)
LEARN held in this wallet serves as the primary LEARNcollective treasury. A successful LEARNcollective Snapshot proposal is necessary to distribute LEARN from the LEARNcollective treasury. Proposals can be submitted by LEARNalumni status and each LEARNtoken held equates to one vote on any given proposal. There is currently a 1m LEARN quorum that must be reached for a proposal to pass. The treasury wallet is intended for use in developing functionality for LEARNcollective and funding the production of additional educational content.
LEARNtokenLiquidity.eth (20m LEARN)
Though all governance & token-gating takes place on Ethereum, LEARNcollective implemented LayerZero’s OFT standard to enable LEARNtoken to be bridged to other L2 EVMs. With a successful governance proposal, LEARNcollective can elect to have LEARNtoken liquidity deployed on any L2 EVM. To verify LEARNcollective status or vote on governance proposals, LEARN must be bridged back to Ethereum.
Implementation of the OFT standard allowed LEARNcollective to bridge 10m LEARN from Ethereum to the Base blockchain per the first successful governance proposal. Base now serves as the liquidity hub for LEARNtoken, taking advantage of transaction fees that are 200x lower than on Ethereum. LEARNtoken is now available for swap via Uniswap on Base.
LEARNcollective may elect to swap LEARN from the liquidity wallet for stakes in other Web 3.0 communities via a successful governance proposal. Any assets received in swaps can be utilized by LEARNcollective to grow LEARNtoken liquidity or generate yield for LEARNcollective via decentralized protocols.
LEARNcollectiveRewards.eth (20m LEARN)
LEARN held in the rewards wallet has also been bridged to the Base blockchain to facilitate cheaper transaction fees when distributing LEARN throughout web3. LEARN from the rewards wallet may be used by LEARNcollective to incentivize use of LEARNtoken throughout the web3 ecosystem or promote membership in LEARNcollective. LEARN from the rewards wallet can be bridged to other chains or distributed as dictated by successful governance votes.
A potential use case could include an incentive program for a borrow / lend protocol that enables users to borrow LEARN to achieve status and gain access to LEARNcollective educational resources for a limited amount of time without having to buy LEARNtoken outright.
LEARNcollectiveDistributions.eth (20m LEARN)
LEARN held in the distributions wallet has also been bridged to the Base blockchain to facilitate cheaper transaction fees when distributing LEARN throughout web3. The distribution wallet is LEARNcollective’s ‘scholarship fund.’ It is reserved for dissemination of LEARNtoken at in-person LEARNcollective events, airdrops, metaverse scavenger hunts, and other crypto-specific learning experiences created to distribute LEARN. Initially, CryptoLearnLab may elect to strategically distribute LEARN from this wallet to grow membership in LEARNcollective.
CryptoLearnLab.eth (20m LEARN)
CryptoLearnLab received 20m LEARN to maintain a vested interest in the success of LEARNcollective and LEARNtoken. The CryptoLearnLab mission is to educate on blockchain concepts, facilitate the creation of crypto-assets within its community, and celebrate thriving blockchain projects. It created LEARNcollective to serve as a home for both curious web3 new-comers and industry builders with advanced skillsets.
So far, CryptoLearnLab has contributed the following to the ecosystem.
CryptoLearnLab will continue to steward LEARNtoken adoption and fund development of LEARNcollective as incentivized by its developer grant. LEARN from this wallet will be utilized to foster ecosystem growth and defend LEARNcollective against any governance attacks.
LEARNcollective.eth (20m LEARN)
LEARN held in this wallet serves as the primary LEARNcollective treasury. A successful LEARNcollective Snapshot proposal is necessary to distribute LEARN from the LEARNcollective treasury. Proposals can be submitted by LEARNalumni status and each LEARNtoken held equates to one vote on any given proposal. There is currently a 1m LEARN quorum that must be reached for a proposal to pass. The treasury wallet is intended for use in developing functionality for LEARNcollective and funding the production of additional educational content.
LEARNtokenLiquidity.eth (20m LEARN)
Though all governance & token-gating takes place on Ethereum, LEARNcollective implemented LayerZero’s OFT standard to enable LEARNtoken to be bridged to other L2 EVMs. With a successful governance proposal, LEARNcollective can elect to have LEARNtoken liquidity deployed on any L2 EVM. To verify LEARNcollective status or vote on governance proposals, LEARN must be bridged back to Ethereum.
Implementation of the OFT standard allowed LEARNcollective to bridge 10m LEARN from Ethereum to the Base blockchain per the first successful governance proposal. Base now serves as the liquidity hub for LEARNtoken, taking advantage of transaction fees that are 200x lower than on Ethereum. LEARNtoken is now available for swap via Uniswap on Base.
LEARNcollective may elect to swap LEARN from the liquidity wallet for stakes in other Web 3.0 communities via a successful governance proposal. Any assets received in swaps can be utilized by LEARNcollective to grow LEARNtoken liquidity or generate yield for LEARNcollective via decentralized protocols.
LEARNcollectiveRewards.eth (20m LEARN)
LEARN held in the rewards wallet has also been bridged to the Base blockchain to facilitate cheaper transaction fees when distributing LEARN throughout web3. LEARN from the rewards wallet may be used by LEARNcollective to incentivize use of LEARNtoken throughout the web3 ecosystem or promote membership in LEARNcollective. LEARN from the rewards wallet can be bridged to other chains or distributed as dictated by successful governance votes.
A potential use case could include an incentive program for a borrow / lend protocol that enables users to borrow LEARN to achieve status and gain access to LEARNcollective educational resources for a limited amount of time without having to buy LEARNtoken outright.
LEARNcollectiveDistributions.eth (20m LEARN)
LEARN held in the distributions wallet has also been bridged to the Base blockchain to facilitate cheaper transaction fees when distributing LEARN throughout web3. The distribution wallet is LEARNcollective’s ‘scholarship fund.’ It is reserved for dissemination of LEARNtoken at in-person LEARNcollective events, airdrops, metaverse scavenger hunts, and other crypto-specific learning experiences created to distribute LEARN. Initially, CryptoLearnLab may elect to strategically distribute LEARN from this wallet to grow membership in LEARNcollective.
CryptoLearnLab.eth (20m LEARN)
CryptoLearnLab received 20m LEARN to maintain a vested interest in the success of LEARNcollective and LEARNtoken. The CryptoLearnLab mission is to educate on blockchain concepts, facilitate the creation of crypto-assets within its community, and celebrate thriving blockchain projects. It created LEARNcollective to serve as a home for both curious web3 new-comers and industry builders with advanced skillsets.
So far, CryptoLearnLab has contributed the following to the ecosystem.
- Design of LEARN tokenomics integrated into LEARNcollective
- Creation of all LEARNcollective educational materials
- Deployment of the LEARNtoken contract on the Ethereum network
- Implementation of LayerZero’s OFT standard to enable LEARNtoken bridging
- Development of the LEARN-gated LEARNcollective Discord
- Launch and hosting of the LEARNtoken.info website and all documentation
CryptoLearnLab will continue to steward LEARNtoken adoption and fund development of LEARNcollective as incentivized by its developer grant. LEARN from this wallet will be utilized to foster ecosystem growth and defend LEARNcollective against any governance attacks.