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1. Introduction
A short description of our 8 years history.
Tutellus is the biggest online educational collaborative platform in the Spanish-speaking world. With +1.8 million users from 160 countries, +180,000 video courses and the best crypto content worldwide (Bootcamps and Courses) we hold a very recognized mark in the industry.
Over the last 7 years of steady growth we enabled over two million transactions inside the platform, representing $10 million USD, and more than a billion minutes spent on online education. An exhaustive analysis of the user behavior has given us a profound knowledge of their needs and the best training opportunities for each of them. The company has invested $1.6MM USD to date in developing the platform, defining the target market and the value proposal.
In 2017 we launched the tokenization model and the TUT token, positioning tutellus.io as the first EdTech platform that paid users for learning. We were announcing the token in july 2017 here:
The TUT token was launched in the Ethereum network in sept 2017. Due to the network saturation caused by the Kryptokitties madness, we had huge difficulties to continue the project there and decided to migrate to NEM;
The project started to get a big traction between users, but during 2018 NEM announced a new blockchain and we made some assumptions: they may discontinue the blockchain in order to launch a new one (Symbol): more powerful, more functional, better. And the projects launched in the NEM version (as the TUT) will have to migrate by themselves to the new one. Now, the Symbol blockchain is ready, but with a focus in corporate clientes, and during 2020 we took the hard choice of leaving NEM in order to bet for a project who would fix better with our values.
Take aways: "paying for learning" and our tokenomics model was great, but the market was not ready for our business proposal in 2017. We needed time and evolve to a new one.
After the business decision to change the blockchain network we stopped and froze all the token progress; it was the time DeFi protocols started to get traction and were deeply developing other business lines in the company, learning about the new blockchains, sidechains (both in Bitcoin and Ethereum) and L2 protocols (such as LN in Bitcoin or Optimistic in Ethereum).
We started to work with the SatoshisGames friends tokenizing their assets: the skins you can get/export/whatever in the Lightnite game:
NFTs created by Tutellus' team in march 2020. Firsts worldwide in Liquid.
Each skin is a NFT token you can interact with. The tokens are public and you can see them through the Explorer we also created.
It was good, but Liquid has many problems for a standard utility tokens like the TUT, so we decided not to go here (no adoption, no web3 wallets, no smart contracts, hidden tx and more).
Despite of the fact we've been tokenizing a lot of assets during the last 12 months in BSC, it has a point of centralization (21 validators) could be improved in other networks. But we accumulated experience in all kind of EVM contracts and tokens, such as:
Last thing before introducing our new token was to look around how the market has evolved since 2017 (TUT launching) and apply the best take-aways to the new 2021 scenario. Having said that we have in mind some bullet points about how the new token should work:
- Forget the double token model (STUT and TUT), let's do it more simple.
- The new token should be a protocol, not just a token.
- The new token should be used inside / outside Tutellus.
- The new token should retain value from the ecosystem.
- The new token should add different DeFi services, being more attractive.
- The new token should show a brilliant incentives model to get adoption.
- The company (Tutellus) shouldn't have a centralized influence over the token.
Polygon (previously Matic) is the Ethereum sidechain with the biggest ecosystem of protocols, developers and EVM-compatible tokens. The blockchain has a huge growth potential and we decided it's the best place to stay.
The TUT is an utility token created in Polygon network by Tutellus.
- Becoming a useful and valuable asset for Tutellus community.
- Accumulating value by the use of the token inside and outside Tutellus.
- Rewarding token holders who contribute to the protocol.
- Rewarding clients, users and professors who pay and get paid in LTUT.
Take aways: the TUT includes DeFi services, different mechanisms to retain value from inside&outside operations, a much better incentives program and reduces the complexity of the 2017 tokenomics proposal.
Last modified 2yr ago