WEPIN Partners Day 2024 ⑦ StudyRich: Creating a WEB3 Learning App Through StudyRich X WEPIN Collaboration

Author: Jiyun Kyung, Business Development (https://www.linkedin.com/in/jiyunkyung/)

WEPIN Partners Day 2024 Speakers

① Verychat: "The Future of Web3 Mass Adoption Through the History of Computer Popularization"

② Vortex Gaming: "Beyond Platform - Community Evolution: Integrating Web2/Web3 Gaming and User Rewards"

③ map3protocol: "Web3 based Real-World Map"

④ Metacultures: "Global Mass Adoption through K-Culture Performance"

⑤ BitBlue: "Entertain Transformation; AltTown"

⑥ Socialus: "Building YouTube Investment Ecosystem with Web3 Wallet"

⑦ StudyRich: "StudyRich X WEPIN, Creating WEB3 Learning App"

⑧ Modern Lion: "Driving Blockchain Mass Adoption through NFT"

⑨ WEPIN Wallet: "Growing Together with Partners, Shaping the Future of Web3 Mass Adoption"
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[TL;DR]

• EDUM Project is building a comprehensive learning measurement and token reward system through StudyRich, their Web3 education platform based on the Study-to-Earn model.
• The integration of WEPIN's non-custodial wallet into the StudyRich app enables streamlined user access through social login and simplified token management.
• While addressing challenges such as transfer fees, network transitions, and user Web3 literacy, the team remains committed to creating educational utility in the Web3 space.
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About StudyRich

StudyRich, a service by Dreamleaders who developed the EDUM blockchain project, is an innovative study platform designed to add new value to education. The platform employs a Study-to-Earn model to maintain sustained learning motivation through incentivization. The platform features a study timer for accurate time measurement, camera verification for monitoring study activity, and a "Note" reward system where users earn "Notes" for every hour of study or verified learning session. These earned "Notes" can be exchanged for EDUM tokens and utilized in various ways within the ecosystem.

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Creating a WEB3 Learning App: StudyRich X WEPIN Collaboration Journey

Hello, I'm Minju Chae from the EDUM Project. Today, I would like to address three key topics: first, introducing our core partner Jinhaksa; second, explaining the background and process of implementing StudyRich and wallet integration; and finally, discussing several challenges faced by Web3 products.

May I ask if anyone here is familiar with EDUM, StudyRich, or Jinhaksa? Our EDUM project is developing a Web3 platform in partnership with Jinhaksa, a company that has maintained its position as the number one ICT enterprise in education and college admissions for 23 years.

Jinhaksa operates a college application submission platform that most college graduates have likely experienced at least once. Interestingly, many people describe it as "a platform they hope never to revisit after getting accepted." Two years ago, they launched "Catch," an AI-based recruitment platform. Currently, Jinhaksa secures 300,000 new members annually, while Catch maintains 100,000 daily active users.

We are advancing our Web3 education project by leveraging Jinhaksa and Catch's extensive educational and employment-related content, along with their strong user base among Generation MZ (millennials and Gen Z). Given the scarcity of successful Web3 project onboarding cases in the education sector, EDUM is strategically capitalizing on this unique opportunity.

The EDUM Project is founded on the 'Study-to-Earn' model. Leveraging Web3 characteristics, it enables anyone worldwide to participate in learning activities and receive rewards, regardless of age, nationality, or gender. The project aims to provide personalized learning mentorship by analyzing accumulated learning data through AI.

The X-to-Earn ecosystem encompasses various models. In the Play-to-Earn category, Axie Infinity and WeMix are notable examples that reward gaming activities. For Move-to-Earn, STEPN and SuperWalk lead the market by incentivizing physical activities, and there are even Sleep-to-Earn platforms that reward sleep patterns.

Within this landscape, we have adopted the Study-to-Earn model. What distinguishes it from traditional Learn-to-Earn approaches is our focus on measuring and rewarding the learning process and behavior itself, rather than just learning outcomes.

EDUM measures learning behavior through two methods. The first is the StudyRich app with WEPIN wallet integration, which tracks study time and verifies actual learning through a seat verification camera system. The second is the EDUM Device, being developed in collaboration with LG Electronics, which measures concentration levels through brainwave and biometric data.

Currently, the EDUM Device is being tested by 300 first and second-year high school students through Jinhaksa, with plans for official launch next year following usability testing. By analyzing the patterns in this accumulated learning data, we ultimately aim to provide personalized learning mentorship services.

Let me now detail our StudyRich app service with WEPIN wallet integration and its implementation process. StudyRich is a learning management timer service that conducts two seat verifications during each 30-minute study session. Upon completing the timer and confirming attendance through facial recognition, users receive reward points called 'Notes,' which can be exchanged for EDUM tokens.

Initially, the token exchange process was quite cumbersome. Users had to transfer Note points from the StudyRich app to an external swap page, then link with MetaMask to receive EDUM tokens. At that time, we anticipated EDUM tokens would serve as integrated points within the educational ecosystem.

Last year, considering VASP regulations, we explored external wallet options. However, users experienced difficulties with MetaMask and key management. After evaluating user experience, regulatory requirements, operational needs, and technical aspects, we determined that an in-app wallet was necessary.

We explored several wallet integration approaches. Our initial consideration was implementing MetaMask API signature processing within the app to retrieve wallet addresses. We then examined integrating various universal wallets through Wallet Connect. However, both approaches still required users to be familiar with MetaMask or universal wallets and presented management challenges.

The final option we considered was a custodial wallet system that would integrate with virtual asset wallet providers' hot wallet APIs for asset withdrawal. However, this approach raised security concerns as it required our servers to directly manage API calls for transfers and address management. Additionally, it would have required us to develop the entire wallet UI independently.

Around the time we concluded our meetings with custodial wallet providers, WEPIN's CSO Minho Yoo contacted us, leading to an immediate meeting. Subsequently, we implemented WEPIN's non-custodial wallet solution, which allows users to store their account keys through simple social login. This implementation resolved virtual asset wallet provider compliance issues while significantly improving user convenience by enabling wallet functionality within the app. Additionally, the widget-based wallet process reduced our UI development workload.

Let me demonstrate how WEPIN is integrated into the StudyRich app. We redesigned the token export page, where clicking the "Connect Wallet" button triggers the WEPIN widget. Users can receive their wallet by logging in with Google or Apple accounts. Wallet addresses and token balances are displayed in-app through the WEPIN API. To address potential login session issues, we enabled address lookup and balance verification through Infura.io, our RPC provider.

This integration enables real-time token balance checking within the app. Besides the Polygon-based EDUM tokens, users with Polygon holdings can directly verify their balances and exchange Note points for EDUM tokens in the app. Previously, users had to navigate to external swap pages and complete complex processes including MetaMask setup and custom token configuration. With the WEPIN wallet integration, tokens can now be received with just a few clicks.

While operating our Web3 project, we've identified several key challenges. The first is transaction fee management. Transferring EDUM tokens on Polygon to MetaMask or exchanges requires MATIC tokens, and Web2 users often struggle to understand concepts like gas fees or MATIC. As an interim solution, we're sending a small amount of gas fees along with EDUM token transfers, enabling users to transfer tokens without holding MATIC. Based on our DAU projections, we expect to sustain this gas fee support by adjusting minimum withdrawal amounts.

The second challenge involves network transitions. While EDUM tokens listed on GOPAX and L Bank are Ethereum-based, our utility tokens operate on Polygon. This requires users to bridge networks for exchange withdrawals, incurring both Polygon and Ethereum fees, which creates additional user costs.

To address these challenges, we're exploring multi-chain support through international exchanges. Our potential solutions include pursuing dual listing of both Ethereum and Polygon-based EDUM tokens on exchanges, or providing liquidity on PancakeSwap or Uniswap for USDT conversion. While these aren't perfect solutions, they represent our current strategic direction. As domestic exchanges don't yet support multi-chain functionality, this remains an ongoing challenge even for potential listings on Bithumb or Upbit.

Our next challenge concerns user comprehension. Operating Web3 products reveals that users find related terminology highly unfamiliar. For instance, after implementing our wallet and introducing the Study-to-Earn concept, some users inquired about connecting the wallet to traditional banking apps like Toss Bank. Given the low understanding of concepts like wallets, networks, and gas fees, comprehensive user guides are essential. UX writing must focus on simplifying technical terms like 'gas fees' and 'transaction fees.'

To address this, we're developing guides that translate technical terms into more accessible language. For example, we're replacing 'gas fees' with 'network usage fees' and explaining concepts like 'bridge' and 'network transition' through analogies to banking and telecommunications networks. Beyond typical product development challenges like finding product-market fit, growth hacking, and internal improvements, these additional hurdles make product enhancement particularly challenging. The Web3 market requires constant monitoring due to evolving narratives and emerging issues like NFT regulations.

While we face various challenges in both product improvement and the broader Web3 and blockchain space, the EDUM project remains committed to creating meaningful utility and scalability in the Web3 education category. We appreciate your continued interest and support. Thank you.

※ 본 콘텐츠는 위핀 파트너스 데이 2024에서 각 연사분들의 발표 내용을 편집한 것입니다. 발표 내용과 일부 상이할 수 있으니, 참고 부탁드립니다.