Space ID is a service that supports domain name registration on the BNB Chain. BNB Chain wallets are normally a long alphanumeric string of characters that makes it difficult for users to remember their exact wallet address. Space ID will turn those complex addresses into a simple one that is easier for users to remember.
Space ID is intended to give users a unique identity for all chains. On Space ID, usernames can be associated with their identities across multiple blockchains. SpaceID will also allow users to connect their identities from the Web2 world including Twitter, email addresses, Github accounts to Web3.
Highlights
One domain for all chains: Space ID helps users to register and use their unique domain name on multiple blockchains.
Security and Availability: Space ID is powered by Lucas, a special blockchain that connects and stores user data on different chains. Two other components implemented in the SPACE ID architecture to enhance security and availability are: Jedi and Yoda.
Jedi is a smart contract that runs on various chains and is responsible for name registration and resolution. It only accepts names that have been granted validity by Yoda.
Yoda is the Oracle network that ensures the uniqueness of names registered across multiple chains. It collects registration events from different chains, consolidates the information, and grants authentication signatures to users who want to register or bridge names on any Jedi.
More than just a domain: Space ID is not just a regular domain name, it is also a multi-chain identity of users in the metaverse: trading crypto, lending tokens, minting NFTs and buying tickets or even buying a house in a future decentralized world using just one ID. And all data privacy related to ID will be owned by the ID owner.
Space ID aims to become the gateway between decentralized identities and the physical/digital world, and the key is finding solutions to the challenges that all the current Domain Services are facing. Space ID offers features:
1, Generic Domain Name
Build your brand: Space ID towards a multi-chain future. The day a single-blockchain user wishes to secure the same identity on different blockchains where that name is already taken, they lose on their personal brand. With SID, this will never be a problem as you will have a unique identity to all chains.
Simplify interactions: No need to double-check your address. On Space ID, your domain name can be associated with your identity on multiple blockchains. For example, if you take the name “satoshi”, you can use this name on BNB, Ethereum and Cosmos.
Connect domains from other social networks: Space ID also allows you to connect your identity on other social networks like Twitter, email address, Github.
2, Top Level Domain
Unique domain for community: Even when you have your universal identifier, it doesn’t mean you don’t need multiple identities in different communities though; having the choice is what matters. Therefore, SPACE ID supports customized TLDs in the form of BAYC: or ETH: which the latter would be the equivalent of .eth.
Seamless NFT Integration: A quick example to better illustrate this: let’s say BAYC wants to airdrop more $APE coins to their holders, all they have to do is send funds to all the BAYC:XX subdomains. You do not have to know their other aliases or even their universal name, it will automatically be sent to the owner address of BAYC:XX.
Combination of TLDs & multi-chain: There are many advantages to combining TLDs and a multi-chain domain service. If a universal domain is set to :satoshi, users can also set his identities to: On BAYC (001), on ETH (satoshi (satoshi.eth)), on BNB (satoshi (satoshi.bnb)). On Twitter, if the username is @satoshi, you can also use Twitter:satoshi as one of your domains to interact.
3, One SDK for all
Domain name service aggregator: Using the SDK software development kit, integrating the Space ID’s SDK will only take about 30 minutes. Space ID has Top Level Domains that can be used to resolve other domains and domain name services.
This means that developers only have to integrate the Space ID SDK to have integrated with all other main domain name services available. No more having to integrate more than one domain name service while keeping an eye on new name services to stay relevant.
Tokenomics
Key metrics
- Token Name: Space ID
- Ticker: ID
- Blockchain: BNB Chain
- Contract: Updating
- Token Type: Administration, utility
- Total Supply: 2,000,000,000 ID
- Circulating Supply:Updating
Token allocation
- Binance Launchpad: 5.00%
- Advisors: 7.00%
- Strategic Sales: 8.00%
- Seed Sale: 20.00%
- Core Team: 15.00%
- Ecosystem: 10.0%
- Marketing: 13.00%
- Foundation: 12.00%
- Community Airdrop: 10.0%
Use cases
- Staking: Users who stake ID tokens can receive discounts in trading fees on the NFT SPACE ID domain marketplace and discounts on Web3 domain registration on SPACE ID.
- Payments: All transactions within the SPACE ID ecosystem use the ID token. ID is also used for Web3 Name SDK integration.
- Governance: ID token holders can vote on important decisions related to the project in SPACE ID DAO, such as platform updates, new feature additions, and changes to the project’s governance structure.
Investors
In December 2022, Space ID successfully raised money in a seed round led by Binance Labs. In February 2023, Space ID continued to complete a strategic funding round of $ 10 million led by Polychain Capital and dao5.