SpaceID (ID) to be launched on Binance Launchpad
SpaceID (ID) will be the 30th project to launch on Binance Launchpad, as announced by Binance. The token sale for Space ID will adopt the Launchpad subscription format, with Binance recording user BNB balances for a period of five days starting from March 17th, 2023, until March 22nd, 2023.
How to participate in the SpaceID (ID) token sale on Binance Launchpad?
To participate in the SpaceID token sale on Binance Launchpad, users will need to hold BNB in their Binance account during a five-day period from March 17th, 2023, until March 22nd, 2023. Participant’s BNB balances will be checked in hourly snapshots for each day, and based on the average of the five days, the final BNB amount for each user will be calculated.
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 is 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, where the final pegging price in BNB will be determined before the start of the subscription.
The subscription period for Space ID will open from March 22nd, 2023, at 6:00 (UTC) to 9:00 (UTC) and will be open for just three hours. Eligible participants will be asked to sign the Token Purchase Agreement and commit their BNB within the aloted timeframe.
User’s BNB will then be locked, and during that period, users will not be able to ccess any other functions such as transfers, withdrawals, or trading with the allocated BNB tokens until the final ID token distribution happens.
On the day of launch, before the trading starts, the ID and BNB tokens will both be transferred to the user’s spot wallet.
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What is SpaceID?
SpaceID is a multichain blockchain naming service where you can book .arb, .bnb and .eth domains. It provides a web 3.0 comprehensive identity platform to discover already registered domain names, register new web 3.0 domains, trade, and manage them, all at one place. As the number of web 3.0 users continues to increase, decentralized identities are becoming an increasingly essential component of any web3 existence. In addition, SPACE ID offers a Web3 Name SDK & API that can be utilized by developers across different blockchains.
SpaceID is bringing all aspects under on roof. Till date, SpaceID has helped book 621,652 .ETH, 264,070 .BNB and 72,586 .ARB domains.
Who are the investors in Space ID?
SPACE ID has secured a total of $10 million in funding through two rounds. The latest funding was acquired through a Series A round on February 7, 2023. The company has received investments from four different investors, with Foresight Ventures, Polychain, and dao5 being the most recent ones through the Series A round. Binance Labs was one of the investors during the Seed round.
What are Some major Milestones Achieved by Space ID team?
Space ID has achieved several milestones in the past year, including the launch of their .bnb Name Service and integration with over 100 leading DApps and wallets. In addition, they have introduced new features such as SID Gift Cards and Domain NFT skin, as well as the launch of the Voyage Series. They also launched the SID Domain Names Referral Program, which aims to reward users who refer new users to their platform. In Q1 2023, they integrated their .bnb Domain Name Service with BscScan and introduced SPACE ID 2.0, an all-in-one digital identity solution. They also partnered with Arb ID and rebranded it to SPACE ID .arb Name Service.
Wha is the future roadmap of Space ID?
The current roadmap for SPACE ID outlines several exciting developments in the coming quarters. In Q2 2023, the company plans to launch the SID Launchpad, which will allow communities to build and launch customized top-level domains. Additionally, SPACE ID will develop infrastructure to provide multichain support for these domains. This quarter will also see the official launch of the SPACE ID DAO, which will provide a framework for decentralized decision-making and governance.
Moving into Q3 2023, SPACE ID plans to implement ID as a payment token, making it possible for users to conduct transactions within the SPACE ID ecosystem using their digital identities. The company will also launch a domain NFT-gated merch store, providing exclusive personalized merchandise for SPACE ID domain holders. Lastly, the developer grant program will provide incentives for the developer community to build and expand the ecosystem.
In Q4 2023, SPACE ID will introduce ID token staking, allowing users to stake their tokens for domain name discounts and trading fee discounts. The company will also release the identifier, or colon domains, which can represent all identities and multi-chain addresses. These developments show that SPACE ID is committed to expanding and improving its ecosystem, creating new opportunities for users and developers alike.
A look at the Space ID Tokenomics
SpaceID is a token that will be issued as an ERC-20 and BEP-20 token, with a total token supply of 2,000,000,000 ID. The token will be allocated across several categories, including Seed Sale, Strategic Sale, Binance Launchpad, Core Team, Advisors, Marketing, Foundation, Community Airdrop, and Ecosystem.
The Seed Sale and Strategic Sale allocations are 20% and 8% of the total token supply, respectively. Meanwhile, the Binance Launchpad Sale Allocation is 5% of the total token supply, with a sale price of 0.025 USD per ID. The amount to be raised in the Binance Launchpad sale is 2,500,000 USD.
Upon listing on Binance, the initial circulation supply of SpaceID will be 286,000,000 ID (14.30%). 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.
One thing to note here is: For ID token airdrop, snapshot is already taken, and if you are thinking to earn tokens for free, it is already late.
However, you can be eligible for Space ID Season 2 airdrop: Click here to participate (Referral link)
Also, check the other upcoming crypto airdrops here.
|Token Distribution||Percentage of Total Token Supply||
Number of ID Tokens
Important: When listed on Binance, the initial circulating supply will be 286,000,000 ID tokens, which represents 14.30% of the total token supply.
How to be eligible for Space ID season 2 airdrop?
As said earlier, Space ID season 1 airdrop is already over, and only the early supporters got 2.1% of the ID tokens. Snapshot for it is already taken. However season 2 has just started. And you have till 23rd of March, 2023 to participate.
All you have to do is to buy a .ARB or .BNB domain, set it as your primary name. You will then be able to generate an affiliate link. Share it with your friends. For inviting users, you will earn Voyage Boxes and also earn points. Even you for registering using an affiliate link will win a Voyage box.
If you wish to participate and win a Voyage box, click on this invitation link.
Earn points and climb up the ranks to enhance your rewards by collecting Voyage Boxes, each offering a varying number of points. The Voyage Boxes will be unveiled on March 23rd, 2023. Share your invite link with friends to gather as many Voyage Boxes as possible.
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Should you participate in the ID token sale on Binance launchpad?
I think, it will definitely be profitable to participate in the ID token sale on Binance launchpad and should fetch good returns. However, if you are one of those who would not be eligible on ID tokensale, and thinking to grab ID tokens on day 1, I would advise you to wait. As there will be token airdrop, we might see initial dumping of the tokens. My personal strategy with ID tokens would be to buy on Binance but after I see the token correcting by more than 50%.