Space ID - The Decentralized Name Service Network for Web3
Discover the Future of Domain Management on the Blockchain
Introduction: Space ID (ID) is a decentralized name service network that facilitates web3 domain registration, management, and governance across different blockchains. As a user, you can acquire a personalized web3 domain on a range of blockchains, including BNB Chain and Arbitrum, to access decentralized applications (DApps), smart contracts, NFTs, and other blockchain-based resources. This article aims to provide a comprehensive understanding of the Space ID platform's architecture, tokenomics, and roadmap.
How Does Space ID Work? Space ID features a modular and scalable architecture that consists of three main components: the Space ID protocol, the Space ID platform, and the Space ID DAO. The protocol provides core functionality for web3 domain registration, resolution, management, and governance. It supports multiple top-level domains (TLDs), such as .eth, .bnb, and .arb, as well as custom TLDs that can be launched by communities. The platform offers an intuitive interface that allows users to interact with the protocol, including domain discovery, registration, trading, and management. The Space ID DAO is a decentralized autonomous organization that governs the Space ID protocol and platform. The DAO is powered by the ID token, which serves as a governance and incentive mechanism for users to participate in the project.
The Space ID Team: The Space ID project was founded by a team of experienced blockchain developers, smart contract security experts, user interface designers, and community builders who share a vision of creating a universal name service network powered by decentralized blockchain technology. The team has garnered substantial support from reputable investors and partners in the blockchain industry, raising a total of $10 million in funding over two rounds. The funding has enabled the team to expand, develop the product, and grow the ecosystem.
Space ID Tokenomics: The ID token is the governance token of the Space ID project, launched on the Binance Launchpad platform in March 2023. The token has a total supply of 2 billion ID, with an initial circulating supply of 14.3% of the total supply. The ID token incentivizes users to contribute to the Space ID project through staking, payments, and governance. The token distribution includes seed sale, strategic sale, public sale, team, advisors, ecosystem fund, marketing, and foundation.
Seed Sale: 20% 🔒 12-month cliff, 60-month quarterly vesting
Strategic Sale: 8% 🔒 12-month cliff, 36-month quarterly vesting
Public Sale: 5% 💰 $0.025, fully unlocked at TGE
Team: 15% 🔒 12-month cliff, 60-month quarterly vesting
Advisors: 7% 🔒 12-month cliff, 36-month quarterly vesting
Ecosystem Fund: 10% 💰 50% unlocked at TGE, 36-month monthly vesting
Marketing: 13% 💰 10% unlocked at TGE, 48-month monthly vesting
Foundation: 20% 🔒 48-month monthly vesting
Community Airdrop: 10% 🔒 24-month monthly vesting
Conclusion: Space ID is a comprehensive and innovative solution in the domain management space on web3, aimed at creating a more efficient and accessible future for blockchain technology. Its modular and scalable architecture, user-friendly platform, and decentralized governance model make it a promising project for web3 enthusiasts and investors alike. The Space ID project has an ambitious roadmap, including launching a merch store gated by NFTs, a SID universal domain, and the SID DAO in 2023. With its promising potential, Space ID is poised to become a leader in the web3 industry, and it is worth keeping an eye on its progress in the coming years.
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