Binance Launchpad Reveals Space ID (ID) as Its 30th Project, Token Sale to Begin on March 17th

Binance, one of the world’s largest cryptocurrency exchanges, has announced the launch of its 30th project on Binance Launchpad – Space ID (ID), a universal Web3 identity protocol with multi-chain name service.

According to the announcement, the token sale for Space ID will follow the Launchpad subscription format, with the recording of user BNB balances starting on March 17, 2023, at 00:00 (UTC).

The sale will run for five days, from March 17, 2023, to March 22, 2023, during which Binance will record user BNB balances for each day over a five-day period. The final BNB holding amount for each user will be determined as the average of the five days, using the Daily Average BNB Balance calculation previously announced by Binance.

The Space ID token sale has a hard cap of $2,500,000 USD and a hard cap per user of $15,000 USD (600,000 ID). The total token supply is 2,000,000,000 ID, with 5% of the total token supply (100,000,000 ID) allocated to Binance Launchpad. The public sale token price is 1 ID = 0.025 USD, and the price in BNB will be determined prior to subscription.

The subscription timeline for the token sale is divided into three periods: the preparation period, the subscription period, and the calculation period. During the preparation period, which runs from March 17, 2023, to March 22, 2023, user BNB balances will be calculated in hourly snapshots for each day over a five-day period. The final average daily BNB balance over these five days will determine the maximum amount of BNB that users can commit later on.

The subscription period will open on March 22, 2023, at 06:00 (UTC) for a three-hour period. Users must also sign the Token Purchase Agreement at the same time, prior to committing their BNB. Once committed, the BNB will be locked, and users will not be able to redeem or access any other functions such as transfers, withdrawals or trading until final token distribution.

The calculation period will begin on March 22, 2023, at 09:00 (UTC) and will run for one hour. Subscription closes, and token allocation calculation begins during this period.

The final token distribution will take place on March 22, 2023, at 10:00 (UTC). The final token allocation will be calculated, and the corresponding BNB will be deducted from the already-locked BNB amount. Once deducted, ID and BNB tokens will both be transferred to the user’s spot wallet.

Binance Launchpad has been successful in launching several innovative blockchain projects, and the launch of Space ID (ID) is sure to generate significant interest among investors. The Launchpad subscription format allows for fair and transparent token sales, ensuring that all users have an equal chance of participating in the token sale.

What is Space ID (ID)

Space ID is a groundbreaking project that is building a universal name service network with a one-stop identity platform, aimed at facilitating the discovery, registration, trading, and management of Web3 domains. It is also providing a Web3 Name SDK & API that developers across various blockchains can use. This enables everyone to easily build and create a Web3 identity.

The platform is one of the largest Web3 name service providers in the industry, with the bnb and arb Top Level Domains (TLDs) being its primary name service providers. Additionally, the native token of the SPASpace ID ecosystem is ID, which can be used on the Space ID platform and to participate in Space ID DAO governance proposals.

One of the major components of the infrastructure is the one-stop Web3 Domain & Identity Platform. This feature enables users to manage all aspects of their domains in one place, providing a seamless experience. The platform also includes a multi-chain name service, which is not limited to the Top Level Domains launched by the Space ID team, but also welcomes other domain providers joining Space ID.

Another key feature of the project is the Web3 Name SDK & API. It has been designed to simplify the integration of Web3 name services in a unified and streamlined approach. This will make it easier for developers across various blockchains to integrate with Space ID and enable more users to benefit from the services.

The ecosystem surrounding Space ID is also thriving, with over 100 leading and reputable projects, including BSCScan, Trust Wallet, and more, already integrated with the platform. This has strengthened its position in the market and demonstrated its ability to provide value to users and developers.

Overall, Space ID is an innovative project that is revolutionizing the way we manage Web3 domains and identities. Its comprehensive infrastructure, multi-chain name service, and thriving ecosystem make it a significant player in the industry, with potential to drive further growth and adoption in the future.

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