Reward (S2E)

Basis

EDUM S2E (Study to Earn) is based on the reward theory, which suggests that positive reinforcement can induce desirable cognition and behavior.

S2E = Study To Earn, compensation through Study

Through the reinforcement factor (reward), EDUM S2E (Study to Earn) can increase initial participation rates and improve the Retention Rate (Customer Retention Rate). Subsequently, this incentivizes specific behaviors and enhancements that can elevate the effectiveness of learning. In particular, the Retention Rate plays a vital role in the success of the business, as a strong 15-day Retention Rate among new members can have a substantial impact on ROI (Return on Investment), UV (Unique Visitors), and LTV (Customer Lifetime Value), which are key metrics for business success.

According to the prominent scholar of behaviorism in psychology, Burrhus Frederic Skinner (1904-1990), "reward and reinforcement" have a tremendous impact on the process of shaping behavior. He demonstrated that through positive reinforcement, humans can learn various skills and perform tasks. The theory of "operant conditioning" supports the idea that the enhancement of learning through reward systems can influence individuals.

As evident from the research findings mentioned above, it has been observed that appropriate rewards based on learning behavior result in higher Retention Rates compared to paid users. Therefore, the immediate, rational, and redeemable rewards offered by EDUM serve as powerful reinforcement factors, fostering proactive motivation among learners and promoting self-directed learning habits and high academic performance. Furthermore, the high Retention Rate among users of EDUM services enhances the potential for business success and contributes favorably to the development of various business models, such as collaborative ventures.

Flow

EDUM S2E follows a process that includes goal setting, self-directed learning, goal achievement, and learning rewards, allowing learners to obtain rewards through this process.

This series of steps is provided to learners through EDUM's S2E platform (B2C) and educational services from partner companies (B2B), playing a central role in constructing EDUM's innovative educational ecosystem.

B2C Service

Reward - Study To Earn, 3 Step

The EDUM reward system is structured into three stages, providing evolved learning measurement tools at each stage to enhance precise and effective learning outcomes. The step-by-step EDUM S2E service is designed to surpass the diversity of service layers (B2C & B2B) and overcome geographical limitations, enabling it to be offered to global learners and expanding the EDUM ecosystem.

Measure – Step ① Mobile APP [STUDYRICH]

The first step of the S2E system is a reward system where learners receive rewards through learning in the Mobile App environment. Learners can improve their learning attitude by utilizing features such as schedule management and timers in the "Study Rich" S2E App, and they can obtain transparent and reasonable rewards based on their usage. Additionally, users can utilize various NFT items within the app to access additional features. For example, by purchasing NFT items like [Pen/Camera/Ink], users can increase profitability, exchange rates, and frequency based on the items they own. They can also gain efficient and selective profits through item

combinations.

A. Pen NFT

It is an item that can be acquired based on levels, and when a specific level is achieved, it grants the holder certain privileges. It has a unique value (exchange rate) and depending on the grade (rarity) of the NFT, it also increases the timer time for daily acquisition.

B. Camera NFT

It is an item that can be purchased and used in conjunction with a timer, regardless of the level. Participation in capturing photos with the camera determines the differential application of reward acquisition rates, directly influencing profitability(productivity).

C. Ink NFT

It is a consumable item that can be purchased and used to obtain additional rewards when using the timer. It can be acquired and used regardless of the level. When combined with a specific pen, it offers benefits similar to a random box, adding an element of fun similar to a game's gacha system.

Measure – Step ② AI measuring

The second stage of the S2E system is an AI-based learning measurement system that provides rewards through training. Developed in collaboration with KAIST (Korea Advanced Institute of Science and Technology), it utilizes the 'Learning Measurement AI Algorithm' to offer learners more refined 'face detection'-based learning measurement, ultimately providing reasonable rewards.

Using AI embedded in cameras of smartphones or tablets, it can detect the learner's movements. This enables the analysis and quantification of learning styles, ultimately enhancing learning effectiveness and concentration.

The AI algorithm utilizes Person Re-identification to identify whether the analyzed video belongs to the same individual, using tube masking technology after learning the user's initial data.

Through the utilization of the VideoMAE deep learning algorithm with excellent temporal redundancy and adaptability, face comparison analysis is conducted, simultaneously analyzing various gestures and sitting postures to improve accuracy.

Measure – Step ③ HARDWARE _ Measuring the brain wave

The third step of the S2E system is a hardware-based learning measurement system where users receive rewards through training. The brainwave measurement solution captures the frequencies (brainwaves) generated by the learner's brain and categorizes them into five groups based on speed and amplitude. The brainwaves originating from the frontal lobes (left and right) are detected using headset sensors. After extracting fundamental brainwave data and more than 15 standardized brainwave indicators, including concentration, five analysis outcomes are obtained, which pertain to concentration, brain stress, and left-right brain imbalance.

Starting from Q2 2024, a range of EDU DEVICE products utilizing brainwave measurement technology will be launched, starting with the EDUM headset. Additionally, digital content aimed at enhancing concentration will also be offered. These devices serve not only as educational tools to improve learning effectiveness through enhanced concentration but also provide learners with the opportunity to acquire EDUM as rewards for using the devices, catering to various purchasing needs. The ecosystem's native currency, EDUMP, can be used to purchase both devices and digital content. The structure of acquiring EDUM from the purchased devices is expected to increase the value of EDUM while promoting ecosystem circulation.

B2B Service

In EDUM's platform, we can leverage a powerful user pool targeted towards education and growth, with over 4 million cumulative members and 150,000 daily active users such as JINHAK materials and CATCH (Provider of corporate recruitments, salary information, customized job information). With efficient DATA utilization, we can predict user behavior and enable optimized business strategies and personalized services. Additionally, based on the extensive experience and know-how of JINHAK we will provide service configurations tailored to user needs and offer user-friendly interfaces and middleware for our partners.

Users can conveniently access fragmented points and content from various education companies, overcoming challenges in education environment accessibility, and receive high-quality educational services and content. Additionally, partnering companies facing challenges in acquiring new members, securing content, and marketing costs can expect various business opportunities such as content exchange, sales, user acquisition, and channeling Partnering companies are required to pay a certain fee to join the EDUM platform, which is expected to play a crucial role not only in EDUM's direct revenue but also in fostering a circular ecosystem.

DATA

On the EDUM platform, it is possible to identify users' learning patterns and create targeted/customized product offerings, even expanding the services to various package deals through integrated services of individual products. For example, high-performing users can provide their standardized brainwave and concentration data to users with relatively lower levels and can also create package deals combining learning data, headset, and brainwave content. This combination of services and DATA, such as EDUM devices and NFTs, enables servitization, leading to not only direct revenue increase from HEAD-Set and NFTs but also expansion into related derivative products/package deals, creating greater value-added.