An Overview of Scholarship Coin
Scholarship Coin (SCHO 2.0) is a decentralized peer-to-peer electronic cash system that has been formed with the ambition to create a scholarship system that will incentivize students based on their academic performance in their recognized institution.
SCHO 2.0 is a minable coin which can be mined on a Proof of Work (POW) OR Proof of Stake (POS) basis.
The coin will be mined by the foundation and stored in its treasury. The treasury will be used as a collateral to create a stable coin that will be paired to the value of the U.S. Dollar. We are currently developing a platform in which students will be rewarded for their grades, graduating diploma and certificates. This reward system will be operating with the stable coin
As mentioned above, the stable coin will be worth $1 USD and will be backed by the total worth USD of the foundation’s treasury. The treasury will contain mined and purchased SCHO 2.0 and other cryptocurrencies by the foundation. For example, if the World Scholarship Foundation has 2,000,000 SCHO in their vault, and one SCHO 2.0 is worth $1 USD each, the total stach will be worth 2 million $ therefore, the foundation will be allowed to mint a supply of 80% of that total value, 2,6 million stable coins. If each SCHO is worth 2$, then the total stach of 2 million SCHO 2.0 held by the foundation will be worth 4 million$ USD, which means that the foundation would have 3,2 million stable coin minted. The stable coin will be managed by an algorithm that will automatically burn or mint the supply as the market price of SCHO 2.0 fluctuates.
The scholarship system will be operating with the stable coin. The stable coin will be rewarded per each note in one sessional report. For example, an A + could be worth 50 SCHOUS, a B could be worth 25 SCHOUSD . A successful high school diploma could be worth 200 SCHOUSD. As these are only examples, the real reward grids are being developed and will be made public on the website once the system is launched.