Tutellus is transforming the world of education through its new & unique educational model of paying the learners while they learn, with the help of blockchain technology. Yes, that’s right! You can earn money while you are studying. Tutellus makes the student-teacher relationship interesting & rewarding for both and hence strengthen their commitment. This first-ever concept of a decentralised system of learning is made possible on the NEM blockchain.
Tutellus has more than 1 million student community. The commitment of students and teachers will be measured on its platform. Students will be paid for learning (proof of learning), and teachers will be rewarded based on a student’s success (proof of teaching). Tutellus also plans to partially fund for few of its students’ education for available jobs, as they want to help reduce poverty and promote learning, all by the use of blockchain.
Blockchain will create the digital assets, or tokens needed to fulfil the Tutellus ecosystem of students, teachers and companies, where they earn money through tokens. Companies can find the right candidates, perfectly matching their needs without any hassle.
The tutellus model contains two tokens:- TUT and SmartTUT (STUT)
The TUT token is a token running on the NEM blockchain. It can be used inside the platform to purchase products, and it is granted as scholarship funds to committed students, with a bias in favour of students from countries going through difficult times. With TUT token, you will be able to buy any product on the platform, with a 10% discount. TUT token is a full tradable token which can also be used to purchase services, such as promotion and marketing for teachers, and access to the students’ profiles. This token can also be used to buy access scholarship programs funded through third-party donations, influence governance decisions associated to relevance: approval of courses, career design, teachers, tutors and master management, etc. and to transfer money to other people, inside or outside the platform.
Smart TUT or STUT, will not be directly tradable in fiat. Users who contribute educational value to the platform will be rewarded with STUT. The number of STUT tokens held by a user will provide a measure of the relevance and the importance of this user for the platform. Additional benefits will be granted for holding high amounts of STUT tokens.
The STUT tokens can partly be traded for TUT tokens. They can also be stored in the user’s virtual wallet as a measure of Relevance in the platform. This will help in the long term, for example, job matching which will enable companies to access to better employees, companies who need influencers, lead acquisition, etc. The user will not be able to buy STUT at any point, and it has to be earned by doing actions inside the platform.
Tutellus introduces a mechanism to add value to the TUT token, evolving from a utility to a security token with rights and dividends for token holders. They are concerned about the market situation and the value proposal, and to protect the token holder, and they won’t list the TUT token. To solve liquidity problems, they have improved the model by introducing a new version of the TUT token called, “The Teacher Token”, both for investors & their community. You will be able to have your favourite teachers very soon and will be able to generate liquidity in a secondary market inside the platform.
1. Tutellus protects their token holders against the market situation and the general token’s devaluation.
2. Tutellus’ token holders will be able to invest in their best teachers and win money with the increase of the teacher’s value. But inside of Tutellus, starting on November’18, token holders will earn money because of dividends (30% Teacher’s profit during five years) or selling their tokens in the platform to other users.
3. The student approach doesn’t change (STUT, Relevance, etc.).
I will explain more in detail about their tokenisation in Part 2.
STUT token is linked to EUR: 1 € = 100 STUT
ICO Token Price: 1 TUT = 0.0500 USD
Tutellus token sale ended on 30th September’18. The total number of tokens is 1,500,000,000, out of which 60% was allotted for token sale.
In the token sale, $22,050,000 of $40,000,000 were sold. (55%)
Accepted currencies – ETH, BTC, LTC, XEM, BCH, DASH.