Empower every community to launch their own top-level Web3 domain

In the fast-paced world of Web3, where innovation knows no bounds, the SPACE ID community is at the forefront, leading the charge towards a revolutionary way of navigating the decentralized landscape. Our guiding vision is focused on building a global domain name network and achieving this goal requires a strategic approach.

Mr Arton.bnb Alright, we can start now. There’s specific things we do want to talk about. We’re going to be talking about, of course, the Space ID 3.0. I guess one of the most exciting things we have been working on lately and one of the things that I’m excited most for personally is the Space ID 3.0, then we’re going to talk a little bit about the Huobi listing and integration. Of course, grant program season two, which we announced yesterday, I’m going to talk a little bit about that. Lastly, the .Sei domain name, whitelist campaigns, we’ll give some attention to this as well. I know we do have a lot of people interested in that. We’ll give a little bit more details on that. I know you have a lot you want to say about Space ID 3.0 I think we can start with that.

Mr Solo.bnb Well, maybe first little stats in there of where Space ID 2.0 got us to use it. Again, Space ID 1 was basically the front end registration for .bnb domains. Separately, we had the .arb domains as well. Then we launched the 2.0, which contained basically an all in one platform to search for domains, register domains, list, trade, manage domains as well. And not only for .bnb and .arb, but for .eth as well ENS. Since then, well within six months, we’ve got over 1.1M registered domains if you combine both .bnb and .arb and then we achieved also a great volume of $10M on the marketplace, which is pretty significant. And then we decided to launch the Space ID again 3.0. And I know on our roadmap that’s something we explained. We talked about launching a domain named Launchpad for projects we like to issue their own TLD (Top Level Domain). And I think we had it much further down our roadmap. The initial plan was not physically to launch it at that time, but we were getting just so many requests from different projects and different chains to help them release a top level domain on their chain.

And we can really see it also because on a lot of these different ecosystems, there’s a lot of little small name services projects that are popping up. Sometimes they have a hard time getting direction over. And in a lot of cases, some of the blockchain teams were reaching out to us, even though there were already two or three main services on their ecosystem, they wanted actually to work with us or have us advise one of the other project also to make sure that they can hit the proper growth. They all know that digital identity are coming. They’re the elements into having a ecosystem where you get user interactions and just better capabilities, basically. They know that a name service, again, is the first step towards that. They need to have a successful domain name service on their chain. As I said, we’re getting a lot of requests to launch TLD for them. That’s one of the things that we did with the thing. But the thing is we can’t develop ourselves all these different top level domains. That’s a lot of work. We also can’t necessarily, I’d buy through the full end all these other projects launching their name services.

We need to make the creation of a name service just much easier for anyone in this space. That’s why we decided to launch this Space ID 3.0 as soon as possible. Because, again, we see the long term vision in having domain names in the space. We also want to place space ID as an infrastructure, basically. We want to be the building block for digital identities in this space. We don’t want to only be provider of domain names. No, we want to be used to launch in domain names in this space. We really believe that each community, they should possess their own name service and they should have control also over this name service themselves. Not this we have us officially launching these domains. They should have the control on it. We decided to launch this so that anyone can use Space ID to launch their name service. There’s a lot of parameters they can play with. They can play and customize what would be the pricing for these name service that they launch, all the details in regards their resolving functions, their record registry, the meta data, and a lot of other stuff as well.

Mr Arton.bnb Let’s say how does the Space ID ecosystem benefit? How does the space ID DAO benefit ? Let’s say we have a lot of new TLD, a lot of community interested in launching their own TLD. How is the ecosystem benefiting from this? How is the DAO benefiting from this in a sustainable manner where we have these new communities launching on our ecosystem, bringing over their own communities? How does the future look like with Space ID 3.0?

Mr Solo.bnb Yeah, of course. Before Space ID 3.0, Space ID has the whole token holders as a whole, so DAO participants as well, the value comes from the revenue that we can make out of our own domains that we launched. But now with 3.0, any community that launches their up level domain, we get a cut out of the registration revenue that happens. This cut that we get, as per a previous announcement that was said, half of it goes into the community treasury and the other half is used to buy back and earn the ID tokens. And so if we looked at how much token would be burned in the next following years, it doesn’t rely on us. We can successfully launch more named services, although we’ll continue to launch our own as well. But now the future is held more into, will there be named services everywhere in the space? Will the future of Web3 be wallet address are replace by names? We believe so. Which means that the volume of ID tokens that’s going to be burned is going to be burned based on will digital Identity be part of it. This gives us more revenue.

We can expect, in the future, hundreds of different name services that are launched on space ID. But also the DAO plays a bigger part in it DAO because DAO is part of all these projects that decide to launch their names, obviously, there might be projects that are figured and others. There might be some spam from users trying to launch the DAO the names. We want to include the DAO into voting onto which domain names should have an official tech bar on Space.ID That when you go in Space.ID and you search the name that you want, so I can type in Solo. Right now, I see Solo. Arb .Bnb .Eth . But we’ll also have all these other domains that are launching our infrastructure show up as well. So we want to be able to identify which ones are actually are legitimate. There’s already a barrier of entry to use the toolkits for Space ID 3.0, meaning that it will require users to stake certain amounts of ID tokens to be able to use the toolkit. A gain, after that, as I said, we take a portion of the revenue. There’s a minimum percentage that we have for this. Previous projects, these are help on, again, advising them on how they should launch it, how they should execute their growth strategy. If they want us to give them more promotion, amplify them on the social, then we can negotiate on percentage and take an even bigger cut as well.

Mr Arton.bnb I do think you mentioned a lot of key points because obviously everybody that’s in our community, everybody that’s the ID token holders, everybody that’s participating in our DAO governance, everybody’s interested for the future. Since there are, A lot of different name services out there, of course, we do have other name services on other chains. But when we’re looking towards the future, we do see so many chains going live lately. We see so many new popular projects, new popular Dapps. If this does become the norm, which we do believe it will, when each community, each project does want to release their own unique identity to their community members.

Mr Solo.bnb feel like for an ecosystem, again, when I say ecosystem, I’m talking about a chain like Arbitrum. It helps the social interaction between users on the chains. It also helps their user transfer funds more easily using wallet. But those times, let’s say, if DApp wants to launch their own name service, they wouldn’t necessarily benefit as much from doing so. What I mean with that is it would be very costly and they have resources to launch their own name service and try to maintain it and develop all the front end to let users register names and all that. But if you use our toolkit, then it becomes easy. It’s pretty much the same. All plug and play. You go on Space ID, you write down what the domain expansion that you want, you fill in some parameters, and then boom, you got a name service to brand it to your name. It makes it very easy for any Dapp to launch it. But also even like NFT projects.

Let’s say there’s an NFT project with an NK EFT collection, they want to launch a name service and Eric dropped that for free to all their holders. They give us a certain amount of money, the minimum that we charge, give that to their holders and boom, that’s it. They don’t even have to do any depth work pretty much to be able to do that. That can be also the case for communities. Let’s say you got a crypto community in Japan, a lot of users and their users are very excited to bring this branding from their community outside and Web 3.0 Well, again, they can just go and fix that E and launch a top level domain. It doesn’t cost them anything. There’s a lot of benefits that comes with it. First, obviously, you don’t need your Devs to create the infrastructure for this service. It’s all plug and play. But also you don’t have to create, again, a front end to register these domain names. It’s going to be compatible automatically with our platform. Same thing for managing these domain names. You don’t have to pitch to different NFT marketplaces to get your collection verified on there.

It’s going to be on the Space ID at the NFT marketplace by default. Also, you don’t have and that’s what is very, very crucial. You don’t have to go and get pitch and do all the business development work with all these wallets on there, all these exchanges and all these steps to integrate your name service for you. Because if you launch a domain name using your infrastructure, your domain name providing that it’s on an EVM chain will automatically be compatible in our current ecosystem of over 200 different Dapps and wallets and centralized exchanges. That’s the toughest thing to do because let’s say you do put the Dapp work into launching a service, doesn’t really do anything if it doesn’t get integrated anywhere. That’s always the hardest part is to get these big wallets to integrate your SDK pretty much, but they don’t even have to do that anymore.

Mr Arton.bnb Exactly. You did talk about just now about the SDK. Can you repeat it again how the DAO plays into this in the verification of the legitimacy of these new TLD that are going to be launched with our toolkit?

Mr Solo.bnb Yeah. As I was saying. Earlier, the DAO will be pretty much responsible in determining which of all these domain names we launched are legitimate ones. It will require the DAO to vote on each TLD to identify which one could get the verified checkmark, which one could be able to go in featured sections of our website, let’s say.

Mr Arton.bnb Exactly. This gives our DAO more power within our ecosystem to decide basically to verify which of these new TLD will be verified. I guess coming full circle here, the more TLD we have have launched from these different, I guess we can call them partners, if they are using our infrastructure to launch their TLD, the more that’s happening on our toolkit, on Space ID 3.0, the more our holders, the DAO benefits, the more the ID token is being burned.

Mr Solo.bnb Cooler thing with that is the more there’s TLD as you said, the more the voting power in the DAO becomes powerful. And we could even see some projects I want to make sure that their TLD gets verified purchasing tokens, taking them and having more voting power to make trick passes, which is good as a whole, good for DAO. But also the more TLD is launched in our infrastructure, the more our Web 3.0 Domain name is Becomes stronger as well. Because right now when we pitch partner, we sell these these wallets, we sell these DAOs and integrate our Space ID 3.0 Let’s say in a year we get 100 different TLD that are launched on using this based on the toolkit. Then when we pitch these wallets, we can tell them, hey, just do this one integration and now you’ll be compatible with 100 different name services. It makes my business development work a lot easier definitely.

Mr Arton.bnb what’s the timeline for Space ID 3.0?

Mr Solo.bnb It should be coming out very soon. I don’t know if we published an exact date for this. I know we got another blog post also that we’ll launch with a bit more details. One thing for sure that we did disclose in that first blog post is the launch partners that will be launching with the toolkit. They’re not all going to launch at the same time. We got a Pancake swap. We got the Community Chain. We’re doing works with Gnosis as well and then Opside. When I say we had a lot of requests from other chains, you can see it being through here and it doesn’t count all the others also that we’re still in the change in crypto.

Mr Arton.bnb Personally, I just can’t wait for 3.0. I think it’s a game changer, especially since I always think about things on the from the perspective on how fast gaming is growing. I think gaming is going to be one of the most important things in Web 3, in the crypto space in terms of bringing huge adoption. When we were talking about all these easy to launch new TLD, in my mind, I can see either each of these games launching their own TLD for their games, for their communities or there may be a Unified name for all of these games. So about Space ID 3.0 anything else do you want to mention here?

Mr Solo.bnb I think we’ve covered pretty much everything there is to stay here. Again, we’ll send out more information soon. There’s going to be another blog post with more information. Just stay alert on our Twitter or on our live partner’s Twitter as well. I think we can move on to the second topic, which would be the Kube integration.

Mr Arton.bnb Right, the Kube integration. That happened, we did release it on the first of August, so a couple of days ago, and they did list our token on August second. So Solow, the KubeI integration. How did this happen? How long has it been in the works?

Mr Solo.bnb We started with the smaller one and then we’re moving up the ranking. So we’ll be really the first big one that we got. So we were really excited about that. And the reason why we want the decentralized exchanges to integrate with domains is, especially with, hopefully, a new market cycle that falls into a bullrun soon, there’s going to be a huge new wave of users on board and onto Web 3.0. We have to tap into them at the first entry point, which is the honorings like centralized exchanges. People first go on there, they buy some tokens and then they bring those tokens, they withdraw them to their personal wallet. But let’s say you go in and you buy our tokens and you want to withdraw them to your wallet. So you arrive on that page that says enter wallet address or a Space ID domain where it says enter your wallet address or a. Arb domain name. Well, this makes them think that, okay, there’s something else to the wallet addresses here. Instead, I could own a space ID them. So it’s a lot of visibility that’s based on the domain that we get. In a way, it’s like marketing for us, it brings the capability and then for the central life exchange, it brings this more simplicity for their users. Nothing more than just typing in Solo.Arb in there and not having to log in into your wallet, copy the address, paste it there, it’s like Chrome to error. Well, all the same reasons why we would want an integration with a wallet just with now a lot more visibility here.

Mr Arton.bnb And talking about exchanges, future exchanges. What’s our plan? Are we looking to integrate with even more exchanges? Are we in talks with more exchanges? Can you give us any details about that?

Mr Solo.bnb Yeah, of course, that’s the goal. As I said, we were starting with a smaller one. We got a budget for this in terms of providing brands to get these exchanges to integrate it. We’re just working our way up on there. We have certain KPI to hit for the quarter. So we’ll just get more and more going. And again, the more we get, the more it’s easy to convince the others because often, especially for the bigger players, they’ll ask, Okay, yeah, we can potentially do it. Just fill us example of the other integrations that we have. So then we went back to square one, got these integrations, this smaller one. And then again, t hat’s been working our way up for the big boys.

Mr Arton.bnb For sure. I think it’s a good way to segue into the second topic, which is the grant program. Because even with these exchanges, of course, while we are unable to disclose the full details regarding individual grants, it should be invited to these exchanges. The grant program is helping us with our efforts in getting not only change grant integrations, but all the other track grant integrations as well. Talking about the grant program, we just released season two and we just announced the season two blog post together with the season one overview. For season one, we did launch it in June of this year. It’s actually been a pretty great effort within these last few months. It really has helped push forward our integrations, our connections with partners. Even with our existing partners, we were able to create these deeper integrations with them, which was also a very good initiative. In total, we did have 52 applications. Out of those 52 applications, we had 21 grant partners that were eligible that actually received grants for the first season. Out of those 21, so notably, we had five exchanges like Mr Solo mentioned. We had four wallets as well. We had three tools. We had two projects in the gaming track and also seven in the Dapps track. In total, there were about somewhere around $42,000 distributed as grants. To anybody that doesn’t remember, there was a proposal where we did request a specific amount of budget to support these grants. For the Season2, actually, we are not requesting an additional budget since we do have a good amount of left for season two, which is around 150,000. Let’s talk about season two. The timeline, we are extending it for two months for season two until the end of September. It’s even better than the last season because we have actually increased our grant rage. When we do increase the grant rage, that actually really helps us to target even bigger partners. Of course, by granting a grant to someone, it also incentivizes the partner to integrate faster to do an even more deeper integration because, of course, that is the criteria you have to reach in order to get the grant. The amount you get depends on the depth of the integration with you, of course, how popular their project is. I know the grant program, I think from your own perspective, from your team’s perspective as well, it does help you to fast track these partnerships. Am I correct?

Mr Solo.bnb Yeah, it does. That’s the main reason why we launched this. It helps incentivize these different integrations. It for two things. The first one is just to pay for the developer’s claim into integrating that while we said it, but that time the resources, it’s critical everybody tries to use it in the most efficient way possible. Integrating Web 3 name is became a can be useful because it makes you compatible with a lot of names. They get amplified on the soles from us as well. They get used. They get more users when they do it. But sometimes a lot of these projects, they have a tight roadmap they’re trying to hit. So sometimes it’s not enough to go ahead with the integration. But now when there’s monetary incentives, this money, they can use the grants, keep it for themselves. But a lot of them also are willing to use this grant or at least a portion of it and just launch a celebratory campaign on growth platforms like Galxe to help their world be more. So we have to have been much more integration being done thanks to the grant program. Another benefit that it brings us is since the last quarter, we started our business development department, we started to focus on focusing more on bigger partners. So we have different criteria in how we qualify the different partners and now we focus on the bigger ones. And the grant program has helped us must catch all these other partners that we might not necessarily be reaching out to, to actually build and incentivize them to work on an integration.

Mr Arton.bnb Of course, additional exposure. The grant program does provide an incentive, as you mentioned, and also additional exposure for us. Really helps you guys do things faster as well. I’m very happy glad that the first season was successful. I believe the second season will be even more successful just from increasing the grant range. I think you will see a wider audience that will be appealed by the second season of our grant program. We’ll definitely ask for our proposal as well as the aspect of proposals we have mentioned, we are sharing the success of the program publicly. At the end of every season, we are sharing the results and for the season one, the results as mentioned before, you can find that in the blog we just published in our medium. That’s pretty much it for the season two of the grant program. We do have one last thing to talk about today. It’s the .sei Pre-registration whitelist campaign. I want to talk about the campaigns a little bit. There’s two campaigns that we have already released. One of them we released today. The previous one, the Sailor Saga 1, which was the test net campaign, I think we have about 86,000 unique addresses who did register at least one .Sei domain name. Yeah, it’s actually a lot. We do see a slow increase in the amount of oath claimed.

There’s plenty of time for anybody that hasn’t claimed it, you can still go ahead and claim it. I know we did have some issues regarding claiming the actual oath, as we do right now with the current one. And to anybody that’s facing any issues claiming, we are in communication with Galaxy to make sure these issues are resolved. I will be shipping you another message, another announcement for those that are having trouble claiming the second oath, which is the .Sei Saga 2, the quiz with Whitelist campaign. All you have to do is answer five questions on the Galaxy quiz on the campaign itself, complete the other tasks and you will be eligible to claim it. If you have issues, I heard some people are having issues with the Fin Wallet. You can also try claiming with the Keplr Wallet, which I will be making and announcing on as well. Those are the two campaigns. Now for future campaigns, we will be having future campaigns as well. I don’t think we have specifically mentioned the amount of campaigns we have, but I can definitely let you guys know to look forward to more campaigns. Now with the Sei launch Mainnet exciting news, let’s talk about it.

Mr Solo.bnb Very good news. I think originally the launch date per se was supposed to be a bit earlier and then it got delayed a bit. That’s why we’re trying to spread out also some of the white is giveaways from our partners. We’re trying to get at least two giveaways per week, but we got a lot more in the pipeline. Now with this launch full announcement, it cements exactly when this whole thing will be launching. We’re pretty excited and we’ll be ramping up these different white this giveaways also from partners. Again, if a lot of you stay alert on the. Com for the same name, not the. Same name, but our Twitter account for the same domains. Just stay alert on this to see the different retweets that we’re doing for those partner giveaways to go get it. This just finance launch pool, I think it proves two things. It proves that Stace is a legitimate project, a good project. It also proved that they are hitting enough hype around them to be allowed to launch on there, which are very good news. It’s good news for to say, but it’s also very good news for state side because it brings eyes to the ecosystem, which means it brings eyes to our domains as well.

Mr Arton.bnb Everybody that is participating in our whitelist campaigns, if you have taken a look at our blog, you mentioned that one of these ticket codes basically means there will be one domain name that you can register during the preregistration. The more of these ticket OAT that you collect during this whitelist campaign process, the more names you will be able to register in the actual pre-registration. Of course, while we have not given the specific dates, as we can see would say everything is moving pretty fast now. We are, of course, also aware of the timeline and we will be releasing more campaigns as I said. So make sure you guys collect as many of these ticket notes as you can and that will decide how many. Se domain you’ll be able to register during the preregistration. What about these Let me circle back to these launch partners with 3.0. Which ones are you excited for? I know we have some pretty big names here.

Mr Solo.bnb There’s some big names. There’s some where the chain itself is launching the TLD. There’s some others where we’re both going to advise and work with a third party to launch this TLD. But in the case when these projects are launching their own official one and marketing it from their own account, then that’s definitely what excites me the most. That’s the case for Injective. We’re getting a lot of request all the time under this part to get name service launched on their chain. They actually approached us first. They were looking at other providers for that to decide to go with space ID after hearing your pitch. For that one, I was very excited because it made it all put you get a lot more traction when the main service is backed directly. It doesn’t back directly by the ecosystem because that’s going to be the case for all these large partners. But when it’s marketed directly from the main account, so it’s going to be like the injective disk or the injective Twitter, the objective Galaxy thing that will push for these different whitenists and these different registrations. It’s not going to go through a third party name service provider.

That’s the the same also for Pancake Swap. That’s another one I’m excited about because that will be the first Dapp TLD where it’s not a chain. It’s Dapp is something to launch their own domain using the toolkit. So excited about that as well.

Mr Arton.bnb Definitely. What really excites me is, like you said, is these chains, they all are launching the T lds on their own with their own initiative. They are bringing the communities over to space ID, which is really great for our own ecosystem. It’s really great for our domain and the marketplace. Of course, we will definitely see way more volume on our marketplace. We’ll see way more registrations flowing into other domains as well. Generally, a very general good initiative for everyone that’s participating in the space ID ecosystem.

Mr Solo.bnb It’s really like a symbiotic how it is. With this toolkit, again, let’s say we reach 100 different TLEs, it’s a lot more eyes on space ID as a whole, which means it’s also a lot more eyes on our other official domains. So the .bnb and the .arb and .sei , we get a much higher cut also on the registration, which means a higher portion that goes to the buyback and burn, higher portion that goes to to their friend, so everybody ends up helping each other pretty much.

Mr Arton.bnb The 3.0 is a very game changing initiative in my opinion. Just just because of how many doors it opens for the future and how much it will grow the Space ID ecosystem. I hope everybody is excited for that

Mr Solo.bnb There was just so much to say around. I hope everybody realizes also what this means, which is that we’re not just the TLD provider, we’re placing ourselves as building block, as an infrastructure player for digital items. Super excited.

Mr Arton.bnb Thanks, everybody who joined and we’ll talk to you guys soon. Bye and take care.

FED Hello, everyone. Welcome to our Weekly AMA - SPACE ID. We’ll be discussing Web3 domain integrations and exchanges, addressing both challenges and opportunities for financial institutions. Today, we have the privilege of having Mr Solo, The head of BD, Space ID. as our guests. We’ll first hear from Mr Solo will introduce Space ID and provide insight into the background of the project. He will share Space ID’s mission in Web3 and give us a glimpse of some updates. So the first question, Mr Solo would you mind to introduce yourself and your background to crypto?

Mr Solo My first experience in crypto was back in 2015. A while back, I was mostly using Bitcoin for payments, forgotten about this until the market cycle back in 2017. That’s really when I got interested in crypto in terms of not only investments, but in terms of the utilities that were getting built. Back in 2017, it was still far back compared to where we are right now. In the past two years, now I started to get more involved in terms of contributing to different projects, built a few website tools as well. Then eventually, in the last two years, I had joined Galaxy, the growth campaign tools as a BD manager for a few months, and then helped to lead the business development department for Space ID. That was back in June last year. Since then, obviously, we’ve grown a lot in terms of user growth, but also product development. I’ve been having a blast working with all different sorts of partners in the space and super excited, especially in this AMA because I think it’s the first AMA that I’m doing with another exchange to talk about what an integration of space ID entails for this.

FED For the next question, could you please give us an overview of Space ID since you just mentioned that? Then what’s the Space ID’s mission in Web3 exploration?

Mr Solo When we originally started, we were a hackathon project on BNB chain to create a domain name over there. I think we all saw how ENS was popular on Ethereum. But not only in terms of how many people were interested in getting a domain name and going back a domain name, just for everyone to understand, it’s a way to replace your wallet address with something a little bit more meaningful. Instead of having this long string of characters that doesn’t really mean anything, you can replace it with something like solo. Bnb. It makes it easy for when you want to send payments to someone or receive payments instead of asking you for your wallet address. Or if you want to send yourself crypto from wallet to wallet, if you know what’s your domain name, you can just type in solo. Bnb as a recipient. We’re not going to say solo, but your own name, of course, to send over funds. But also it helps kickstart the social features on different chains. Meaning that now if I look at, for example, when NFT marketplace transactions, or if I go on a gaming app and I want to see a leader board of different players instead of just seeing a list of wallet addresses, exchanges, funds, and assets.

Now I can start recognizing some names that I can often tie it to, for example, the Discord community I’d be in, and I can start a match wallet activity or gaming participation with who that person is in the community that I’m engaging with. Often, these domain names are a way to get kickstart these social features. Once you got a domain name on your blockchain, it becomes easier for different daps to create features such as profiles to visit or again, leader board s or chat boards even. We started with. We got incubated in their MVB program of the BNB chain. Then we won all the way up to getting an investment from Binance Labs and then released these. Bnb domains around the month of September. Since then, we have released also. Arb on Arbitrum. We are working on .Sei presently as well. We started to pivot from us creating our own top level domains into eventually letting any project, any Dapp into launching their own domain names using the space ID infrastructure. We’ll have more news around this coming up next week, but I think everybody will be pretty excited for what it is. Now, there’s different advantages coming with space ID.

The first one is Dapps out there, Dapps for wallets. They’re getting asked more and more to integrate domain names. We’re seeing a lot more domain name service providers on different chains popping up a little bit everywhere. Obviously, a domain name doesn’t do anything if it doesn’t get integrated into these dapps. We’re seeing devs getting bombarded with requests to have these domain names integrated into these Dapps Into theirs. It takes a lot of time. We can make the parallel with wallets back then where all the daps are getting asked to buy the wallets to get it integrated in there. We’ve seen the rise of Wallet Connect, which like wallets this solution. Wallet Connect is a way for a Dapp to integrate their SDK to become compatible with hundreds of different wallets. We want to do the same thing but with domain names. If somebody integrates the Space ID SDK, they become compatible with our .bnb or .arb It’s also compatible with ENS. We not only include our own domains that we create, but we also aggregate other existing domain names in there, that’s the idea behind Space ID.

FED Cool, we’re eager to learn more about how Space ID is achieving this. Since you just mentioned about integrations, I would like to ask that how Space ID integrates with Other Exchanges could create new and potential opportunities for both of the projects?

Mr Solo That’s something I wanted to do for a long time. When we were looking at getting integrations done, we were mostly looking at getting Dapp to support domain names. When dapped integrates a domain name, depending on what type of Dapp it is, there’s different utility to it. If we integrate with a DeFi project, often all it will do is when you connect your wallet in the top right corner, it’s going to automatically replace your displayed wallet with the name that you’ve chosen, but it stops there. But then you’ve got that with more utility, such as, again, as I had mentioned, like a gaming or an NFT marketplace, because then you not only start seeing your own name being displayed, but you start seeing the names of other users, basically. But the strongest utility from the start was always integrating with wallets so that you can send funds easily to someone. As I had mentioned at the beginning, you wouldn’t have to ask your friend what’s their wallet address if you already know their domain name by heart. As you type in their recipient address, you would just type the user’s name instead of the wallet. And for exchanges, it follows the same basic utility I would say, so that when you have funds in an exchange and you want to withdraw it back into your own Web3 Wallet.

Well, it’s a little bit the same thing. It functions as a wallet. It is a wallet when you withdraw funds. And so instead of, again, going to go see what’s your wallet address, copy it, paste it there. Instead, again, I can just withdraw funds on the BNB chain network by typing solo.Bnb or solo.Arb if I want these funds on the Arbitrum network. Obviously, this makes it easier for users to perform these actions. It reduces friction. But it also helps for these users to make less errors because you could copy the wrong wallet address without knowing it. But if you use your domain name, you’re sure that these funds will go in the right place. And especially when we’re going into a new market cycle, we’re getting a lot more Web2 users into the space as the market goes back. And with exchanges, it’s always the first step into getting into Web3 is going to purchase some crypto. And for them, for their first time into the space, playing with wallet addresses, it can be a little bit complex. That’s why we want to reduce friction as much as possible. When, again, you withdraw funds, super simple, type your name, you’re good to go. It helps the the easy of use for the exchange users. Obviously, it helps space ID because it brings visibility to all these users when they’re about to withdraw funds that, Oh, I can actually withdraw to adopt the BNB name. So then, again, it gives visibility to the fact that these domain names exist.

FED The next question is, did your team build technologies or protocols that specific to space ID or are there any notable technology the team is applying?

Mr Solo The first thing that differentiates yourself is our SDK aggregator, as I had mentioned, like for Dapps, you only do one integration and become compatible with all the domain names out there. But not only they only have to do one integration, now we’re updating our SDK so that once it’s integrated, even if we add more domain names to this SDK, all these daps, wallets, exchanges, they won’t even have to update the SDK. Once it’s done, it’s done. There’s nothing else they have to do. That’s the utility for projects. But there’s also utility for users.

Back early in the year, what we called Space ID 2.0, which is an aggregated domain search, domain marketplace, domain management platform. Meaning I can go on Space ID and if I want to own a digital identity, I can just go on Space ID. I know I want the name Solo, so I can type in Solo in the search bar and it’s going to show me a list of Solo.bnb, Solo.eth, Solo.Arb with more to come. And directly from here, I can see if these domains are available. So if they are available, I can register them directly from here. If they’re not available, as I said, Space ID 2.0 is also a marketplace. So if these domains have already been registered, I can go and make some offers. Works the other way around. Obviously, I can go and list my domain names in that marketplace. And once I start owning these different identities for the different chains I’m on, I can also all manage them from the Space ID platform. So if I want to extend the registration time for my domain, I can do it directly here.

Before we had that, users had to go on different platforms to manage these different domains. I already had an ENS name.eth. When I wanted to manage this, I had to go on the ENS website and I had to go on the Space ID website to manage my.bnb And .Arb had even another DApps for this. But now I only need one website, which is Space ID 2.0, to manage all of this. So it brings a lot of user simplicity. But also what we want to launch eventually is an Omnichain compatibility for domain names, which I think will be very interesting, meaning that I’ll be able on Space ID to map all my different wallet addresses from different chains, so not only EVM wallet addresses to my own identity, to my own central identity. When I send funds to someone, no matter which chain I’m on, on my wallet or on the exchange, I can use any of the identifiers. So for example, I could be on Solana and I want to send funds to the Solo guy, but I don’t know what is Solân domain name. Well, that’s fine. I could type in Solo.Bnb and the funds will still be still be rerouted to the correct user. This is more feature that is coming later on. We’re exploring the tech in terms of what would be best to use for this. And then, as I had mentioned early in the beginning, next week we’ll announce something new around Space ID, where we’re seeing our next vision. So very excited for this to come out.

FED Then the next question is, you guys have native token, right? Yeah. Token called ID token and actually it’s listed on Binance. So for better understanding of the token, whether it’s for space ID users or traders or everyone out there, could you give an overview of your tokenomics and the utility.

Mr Solo I’ll give the existing utilities for the token and then what’s coming also. The first one, very simple as always, ID can be used to participate in our DAO. The DAO, some of the folks that have went through is whether to allocate some funds to grant programs in order to pay for the integration of different wallets and DAOs, so very useful for this. But also one of the other utility that we have is all the revenue that we make from the registration of the domain names. Domain names, the pricing ranges depending on how long you want your domain name to be. So for .bnb it’s very similar to ENS, so it can be $5 a year. But if you want a three characters domain, it can cost $650 a year. From all the revenue that we get, 50 % of it goes automatically into the community treasury, which is voted again by the DAO. And the other 50 % of the revenue is used to perform token buybacks of the ID token and then burn them so we can add a little bit of deflation into our token supply. That’s what we have right now. Now, obviously, Space ID, it’s a platform where you can purchase domains. So we want the ability for users to pay using the ID token, not just BNB, ETH, or ARB tokens, of course. But we also want to implement the staking of ID tokens in order to reduce the cost of registrations and also reduce the cost of the marketplace fees depending on how much ID token you’ve been staking. Now, there’s going to be another utility for the ID token that is more around projects that, again, we’re going to announce next week.

FED And for the final question, could you share what’s new with your platforms

Mr Solo Yeah. Right now, our our aggregator In our SDK, as I mentioned, we aggregate .eth .bnb .arb, but we’re going to aggregate two other domain name providers that will announce in the next week. When again, Dapps integrates our SDK, they’ll become compatible with five domain names from now on. But also we’re gathering different launch partners that will announce their own top level domain built on this base of the infrastructure over the course of the next weeks. So instead of having these five domains, we’ll start doubling these numbers pretty fast. So we’re going to see more and more domain names being released on our infrastructure where anyone pretty much can use Space ID to launch their own domain name. So they don’t have to work on the deck at all. But what’s interesting as well is the domain names that they release using the Space ID infrastructure comes with loads of benefits such as being compatible in our SDK. We already did all the go to markets to convince partners from DAPS exchanges wallets to integrate our SDK. If somebody starts from scratch and decides to launch their own name service, they have to do all this work themselves. They have to write to all these different wallets and get them to integrate their name service. But if the name is released using our infrastructure, then they are already compatible with over 150 different integrations in our ecosystem. But also these domains become compatible on our domain marketplace and our domain search feature. It makes it pretty compelling for projects to use Space ID instead of having to start everything from scratch. Not only the go to market, the operations plan, but also all the technicalities of creating your own domain name.

FED Thank you so much for sharing all of the details about Space ID. Thank you for having a really good day, good time with the community and with our two wonderful speakers.