Deep-Dive into SPACE ID - The next big player!
So, What is SPACE ID?
SPACE ID is a name service platform that allows users to perform all processes related to web3 domains from one centralized location.Â
It includes a web3 name SDK and API for developers on different blockchains, as well as a multi-chain name service for creating web3 identities12.
Web3 domains are human-readable names that replace complex addresses for all web3 interactions, such as sending and receiving cryptocurrencies, accessing decentralized applications, and managing digital assets1. Web3 domains are also decentralized, censorship-resistant, and self-sovereign, meaning that users have full control and ownership over their own identities2.
SPACE ID aims to become the gateway between decentralized identities and the real world with a universal domain name service. It supports multiple top-level domains (TLDs), such as .eth, .bnb, and .arb, and allows users to discover, register, trade, and manage their web3 domains in one portal13.
What are the features of SPACE ID?
SPACE ID offers a variety of features for users, developers, and communities.
Some of the main features are:
âą Discover: A hub for users to search names in all TLDs and find the best ones for their needs1.
âą Register: A service for users to register names from all name services in one place, with competitive prices and easy steps1.
âą Trade: A marketplace dedicated for domain investors, where they can buy and sell web3 domains with other users or platforms1.
âą Manage: A tool for users to manage all their web3 names in one portal, with features such as updating records, transferring ownership, renewing domains, and more1.
âą Web3 Name SDK & API: A service for developers to integrate all web3 name services into their applications, with a simple and unified interface that supports multiple blockchains12.
âą Multi-chain Name Service: A service for communities to launch their own TLDs on different blockchains, with features such as subdomain management, NFT collections integration, and unique branding14.
âą Universal Domain: A future feature that will enable users to have a single name for everything they own and everything they are across blockchains, with simplified interactions and connected identifiers15.
What is the tokenomics of SPACE ID?
SPACE ID has its own governance token called ID, which was launched on the Binance Launchpad platform in March 2023.Â
The token has a total supply of 2 billion ID, with an initial circulating supply of 14.3% of the total supply2Â .
The ID token has various use cases within the SPACE ID ecosystem, such as:
âą Governance: ID holders can participate in the governance of the platform, such as proposing and voting on protocol upgrades, parameter changes, new features, etc2Â .
âą Staking: ID holders can stake their tokens to earn rewards from the platformâs revenue streams, such as registration fees, trading fees, advertising fees, etc2Â .
âą Utility: ID holders can use their tokens to access premium services and features on the platform, such as discounts on domain registration and renewal, priority access to new TLDs, exclusive NFT collections, etc2Â .
What is the vision of SPACE ID?
SPACE ID was founded in April 2022 with its long-term vision stated as follows:
To become the gateway between decentralized identities and the real world with a universal domain name service5.
SPACE ID believes that web3 domains are not only names but also identities that represent usersâ digital selves. By building a one-stop hub for web3 domains across blockchains, SPACE ID aims to empower users with self-sovereign identities that can connect them with people, information, assets, and applications in the digital world5.
SPACE ID is also backed by some of the most renowned venture capital firms and industry leaders in the web3 space, such as Polychain Capital, dao5, Binance Labs, Multichain Ventures, Anyswap Network, Bit.Store, TARS Protocol, BSCDaily, CoinMarketCap, and more
Conclusion
SPACE ID is a name service platform that aims to provide a one-stop hub for web3 domains across blockchains. It offers a variety of features and services for users, developers, and communities to discover, register, trade, and manage their web3 identities.
It also has its own governance token called ID, which enables users to participate in the platformâs governance, staking, and utility. SPACE IDâs vision is to become the gateway between decentralized identities and the real world with a universal domain name service.
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Summary:
âą SPACE ID is a name service platform for web3 domains across blockchains.
âą Web3 domains are human-readable names that replace complex addresses for web3 interactions.
âą SPACE ID supports multiple top-level domains (TLDs), such as .eth, .bnb, and .arb.
âą SPACE ID offers features such as discover, register, trade, manage, web3 name SDK & API, multi-chain name service, and universal domain.
âą SPACE ID has its own governance token called ID, which has use cases such as governance, staking, and utility.
âą SPACE IDâs vision is to become the gateway between decentralized identities and the real world with a universal domain name service.
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