Binance has announced that SpaceID (ID) will be the 30th project to launch on its Launchpad platform. The token sale for SpaceID will follow the Launchpad subscription format, wherein Binance will record user BNB balances for a period of five days, starting from March 17th, 2023, until March 22nd, 2023.
Get Ready to Join the Space Race: A Step-by-Step Guide to Participating in the SpaceID (ID) Token Sale on Binance Launchpad!:-
To participate in the SpaceID token sale on Binance Launchpad, users must hold BNB in their Binance account for a five-day period from March 17th, 2023, to March 22nd, 2023. Hourly snapshots will be taken of each participant's BNB balances for each day, and the final BNB amount for each user will be calculated based on the five-day average.
The total supply for Space ID is 2,000,000,000 ID tokens, with a hard cap of $2,500,000 USD for the Binance Launchpad. The hard cap per participant is set at $15,000 (or 600,000 ID), and the total number of ID tokens allocated to Binance Launchpad is 100,000,000 ID, which represents just 5% of the total supply of Space ID tokens. Space ID's public sale token price is set at 0.025 USD per ID token, and the final pegging price in BNB will be determined before the start of the subscription.
The subscription period for Space ID will be open from March 22nd, 2023, at 6:00 (UTC) to 9:00 (UTC) and will only be open for three hours. Eligible participants will be required to sign the Token Purchase Agreement and commit their BNB within the allotted timeframe.
Once committed, the user's BNB will be locked, and during this period, users will not be able to access any other functions, such as transfers, withdrawals, or trading with the allocated BNB tokens until the final ID token distribution.
On the day of launch, before trading begins, both the ID and BNB tokens will be transferred to the user's spot wallet.
Introducing SpaceID: The Revolutionary Universal Name Service Network:-
SpaceID is a multi-chain blockchain naming service that allows users to register .arb, .bnb, and .eth domains. The platform provides a comprehensive web 3.0 identity solution for discovering, registering, trading, and managing web 3.0 domains in one convenient location. With the increasing number of web 3.0 users, decentralized identities have become an increasingly crucial aspect of web 3.0 existence. Furthermore, SpaceID offers a Web3 Name SDK & API that developers can use across different blockchains. SpaceID aims to consolidate all of these aspects under one roof. To date, SpaceID has assisted in the booking of 621,652 .ETH, 264,070 .BNB, and 72,586 .ARB domains.
Investors backing Space ID, the multichain blockchain naming service:-
SPACE ID has successfully raised a total of $10 million in funding through two rounds, with the most recent being a Series A round that closed on February 7, 2023. The company has garnered investment from four prominent investors, including Foresight Ventures, Polychain, and dao5, who participated in the Series A round. Notably, Binance Labs was one of the investors during the Seed round, demonstrating the widespread interest in SPACE ID and its potential for growth in the blockchain naming service industry.
Major Milestones Achieved by Space ID Team:-
Space ID has accomplished several noteworthy milestones in the past year. Firstly, they successfully launched their .bnb Name Service and integrated it with over 100 leading DApps and wallets. They also introduced new features, such as SID Gift Cards and Domain NFT skin, and launched the Voyage Series. Moreover, they launched the SID Domain Names Referral Program, which incentivizes users who refer new users to their platform. In Q1 2023, they integrated their .bnb Domain Name Service with BscScan and launched SPACE ID 2.0, which is an all-in-one digital identity solution. Lastly, they formed a partnership with Arb ID and rebranded it as SPACE ID .arb Name Service.
What Are the Future Plans and Roadmap of Space ID?
Certainly, here's a revised version:
SPACE ID has laid out its future roadmap, with several exciting developments planned for the upcoming quarters. In Q2 2023, the company aims to launch the SID Launchpad, which will empower communities to develop and launch customized top-level domains. Additionally, SPACE ID plans to create infrastructure that will enable multichain support for these domains. The company will also officially introduce the SPACE ID DAO, providing a framework for decentralized decision-making and governance.
In Q3 2023, SPACE ID plans to implement ID as a payment token, allowing users to conduct transactions using their digital identities within the SPACE ID ecosystem. They will also launch a domain NFT-gated merch store, offering exclusive personalized merchandise to SPACE ID domain holders. Finally, the developer grant program will provide incentives for developers to enhance and expand the ecosystem.
In Q4 2023, SPACE ID will launch ID token staking, allowing users to stake their tokens for domain name discounts and trading fee discounts. Additionally, they will introduce colon domains, which can represent all identities and multi-chain addresses. These developments showcase SPACE ID's commitment to enhancing and expanding its ecosystem, creating novel opportunities for users and developers alike.
Exploring the Space ID Tokenomics: Distribution, Utility, and Governance:-
SpaceID is an ERC-20 and BEP-20 token that will have a total token supply of 2,000,000,000 ID, allocated across several categories. The Seed Sale and Strategic Sale allocations are 20% and 8%, respectively. The Binance Launchpad Sale Allocation is 5% of the total token supply, with a sale price of 0.025 USD per ID, aiming to raise 2,500,000 USD.
Upon listing on Binance, the initial circulation supply of SpaceID will be 286,000,000 ID (14.30% of the total token supply). The Core Team will hold 15% of the total token supply, while Advisors and Marketing will hold 7% and 13%, respectively. The Foundation and Ecosystem allocations are both 12%, and 10% will be allocated for Community Airdrop. These token allocations demonstrate SpaceID's commitment to a well-balanced distribution of tokens among different stakeholders, including the community, team, and advisors.
Note:- The snapshot was taken on March 1, 2023, and only users who held Binance Coin (BNB) in their wallets at that time are eligible for the airdrop.
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Is it Advisable to Participate in the ID Token Sale on Binance Launchpad?
Participating in the ID token sale on Binance Launchpad is likely to be a profitable investment with potentially significant returns. However, those who are ineligible for the ID tokensale and plan to purchase tokens on the first day should exercise caution. The token airdrop may result in initial dumping of tokens, potentially leading to a market correction.
As a recommended strategy for ID tokens, it may be prudent to wait until the market has corrected by more than 50% before buying on Binance. By doing so, investors may be able to acquire tokens at a more favorable price point, leading to increased profitability in the long term.
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