What is Space ID? Space ID is a project specializing in providing domain name-related services on Etherreum, BNB Chain and Arbitrum. So what’s special about Space ID? Everyone, let’s find out in the article below.
To better understand Space ID, people can refer to some of the articles below:
- What is Ethereum Name Service (ENS)? Overview of Cryptocurrency Ethereum Name Service
What is Space ID?
Overview of Space ID
Space ID is a platform that allows users to register, buy, sell and manage domain names on the Web3 platform. After a successful initial period of development on BNB Chain, Space ID quickly expanded its market to Ethereum and Arbitrum, but the level of success also decreased slightly.
If people are wondering what a domain name is on the Web3 platform, some examples are:
- Domain names on BNB Chain: hakresearch.bnb, hakinsights.bnb, buupro13.arb, nuoccam.arb,…
- Domain names on Arbitrum: hakresearch.arb, JPMorgan.arb, Facebook.arb, Youtube.arb, quangtruong.arb,…
- Domain names on Etherreum: Minaprotocol.eth, Arbitrum.eth, VitalikButerin.eth, SamFTX.eth,…
The Space ID difference
Rare Name Service Multichain platform
After successfully launching sales on the BNB Chain ecosystem with enthusiastic support from Binance, Space ID quickly expanded its market to Arbitrum and Ethereum. It can be said that Space ID was also quite successful when it first opened for sale on the Arbitrum network.
In the future, Space ID will certainly continue to expand its market because Space ID’s largest source of revenue comes from selling domain names.
Program for the community
Being a platform specializing in buying and selling domain names, Space ID must have a plan so that the community can deploy affiliates such as:
- Space ID Gift Card
- Space ID Comic Council
- Space ID Referral Program with commission rate up to 15%.
Build Use Cases for domains
Space ID allows users to build their own personal brand on those domains. Besides, Space ID also has some differences such as:
- Domain names can connect to Web2 social networking platforms such as Twitter, Gitcoin,…
- Domain names on BNB Chain and Ethereum can be set to replace a complex wallet address. For example: 0x83240d2348ndf92343olkj3432jj3234 becomes quangtruong.bnb.
- Many customizations help simplify the user experience.
Development Roadmap
In the near future, Space ID will continue to expand its products to Blockchains such as Aptos or Sui Blockchain.
Besides, Space ID has released a number of outstanding updates as follows:
- July 31, 2023: SpaceID has launched a series of new products and features in version V3 such as Web3 Name SDK, Domain Dashboard,… To understand more about Space ID V3, everyone can read the article Space ID V3 : Does New Innovation Make a Difference?
Investor
- September 2, 2022: Binance Labs successfully invested in Space ID in the Seed round with an undisclosed amount and valuation.
- February 7, 2023: Space ID successfully raised $10M at Stragetic round with the participation of Polychain Capital and DAO5.
- March 17, 2023: Space ID sells Public Sales for the first time on the Binacne Launchpad platform.
Space ID is also a partner of many large projects in the Crypto market such as Galxe, DODO, Trust Wallet, Chainlink, StepN, ApeSwap, CyberConnect,…
Core Team
Space ID’s main development team did not reveal their faces to the media. Many rumors suggest that Binance is the organization behind Space ID. According to some official articles, Space ID’s development team has worked on many different Crypto projects.
Tokenomics
Information about Space ID tokens
- Project name: Space ID
- Code: ID
- Blockchain: BNB Chain
- Token classification: BEP 20
- Contract:
- Total supply: 2,000,000,000
Token Allocation
- Seed Sales: 20%
- Core Team: 15%
- Marketing: 13%
- Foundation: 12%
- Community: 10%
- Binance Launchpad: 5%
- Strategy: 8%
- Advisors: 7%
- Ecosystem: 10%
Token Sale
Space ID is officially sold on the Binance Launchpad platform with the following information:
- Total quantity: 100,000,000 IDs equivalent to 5% of total supply
- Selling price: $0.025 equivalent to a valuation of $50,000,000
Token Release
Category |
Quantity |
Percent |
Vesting time |
---|---|---|---|
Binance Launchpad |
100M |
5% |
100% at TGE |
Advisors |
140M |
7% |
Lock for 1 year and pay in installments over the next 3 years |
Strategic Sale |
160M |
8% |
Lock for 1 year and pay in installments over the next 3 years |
Seed Sales |
400M |
20% |
Lock for 1 year and pay in installments over the next 5 years |
Core Team |
300M |
15% |
Lock for 1 year and pay in installments over the next 5 years |
Ecosystem |
200M |
ten% |
50% at TGE and paid in installments over the next 3 years |
Marketing |
260M |
13% |
10% at TGE and paid in installments over the next 4 years |
Foundation |
240M |
twelfth% |
0% at TGE and paid in installments over the next 4 years |
Community Airdrop |
100M |
ten% |
30% at TGE and paid in installments over the next 2 years |
Token Use Case
Users who hold the ID will receive a number of benefits:
- Vote on important protocol decisions.
- The development team also revealed that there will be more ID features in the future.
Exchanges
Currently, users can buy and sell IDs on many exchanges such as Binance, OKX, Bybit, MEXC, Kucoin, Houbi,…
Project Information Channel
- Website: https://space.id/
- Twitter: @SpaceIDProtocol
Summary
Space ID is one of the projects deployed on Binance Launchpad and could completely become a big trend in the future. Therefore, everyone should closely monitor the project in the coming time and cycle.