SPACE ID

SPACE ID is a platform for digital identities, building a hub for users to discover, register, trade, and manage .eth, .bnb, & .arb Web3 domains. SPACE ID is developing a universal name service network that also includes a Web3 Name SDK & API for developers across blockchains and offers a multi-chain name service for users to create Web3 identities.

SPACE ID announced its 2.0 upgrade, which includes a Web3 domain and identity platform, a multi-chain name service, and Web3 Name SDK and API. With this upgrade, SPACE ID aims to streamline the Web3 industry and establish itself in the market.

In February 2023, SPACE ID joined forces with ARB ID and launched SPACE ID .arb Name Service. After its public launch, it amassed a total of 95,000+ registrations and 71,000+ holders. ARB ID is developing the .arb Name Service, a Web3 Domain identifier developed on Arbitrum. The strategic merger bolsters SPACE ID’s position in the domain name service industry.

ARB ID and SPACE ID will work to develop decentralized identity solutions on a larger spectrum. As the major focus, the joint team will keep building the name services for both the .bnb and .arb domain. ARB ID will work under SPACE ID.

The team will work toward the shared objective of developing the Universal Name Service, with the near-term effort to enhance SPACE ID 2.0, featuring the following:

• A Web3 Domain Platform: For discovering, registering, trading, and managing domains in one place
• Multi-chain Name Service: Explore innovations on multi-chain support and cross-chain interoperability
• Web3 Name SDK & API: A developer toolkit for integrating Web3 name services into different applications

SPACE ID launched its governance token — the ID token, and released it publicly on Binance Launchpad. The preparation period of the Binance Launchpad subscription began March 17th, 2023, and the token distribution started March 22nd, 2023. The governance token of SPACE ID is designed to play a vital role in the decision-making process of the project, enabling users to have a say in the direction and future of SPACE ID.

The ID token serves a crucial part in the development and sustainability of the SPACE ID ecosystem, as it incentivizes users to engage with the project and participate in its success. With the launch of ID, SPACE ID aims to provide users with a rounded platform for managing their digital identities. The ID token will be available on Binance Launchpad for public subscription, and trading is expected to begin after.

SPACE ID's community will have the chance to purchase, sell, and trade the ID tokens on the exchange. Five percent of the overall supply is allocated to Binance Launchpad participants. Ten percent of the overall supply is reserved for the community airdrop, and 21 percent of the community airdrop, which is 2.1 percent of the total supply, will be eligible for claiming for the early adopters of SPACE ID at the time of trading on Binance. The remaining part of the Airdrop allocation is set aside for contributors in future campaigns and will be released gradually.

ID is the native token of the SPACE ID ecosystem, and it has the following functions:

• Staking: Users can stake ID tokens to get discounts in the SPACE ID domain NFT marketplace trading fees, and Web3 domain registration discounts on SPACE ID.
• Payments: It is utilized as a means of payment within the SPACE ID ecosystem and for Web3 Name SDK Integration.
• Governance: ID token holders are able to participate and vote on SPACE ID DAO proposals.