Binance New IEO: What is Space ID?

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On March 16, Binance officially announced that the 30th Launchpad project will be launched on Binance Launchpad. Space ID (ID) will be listed on Binance Launchpad , and a special BNB session will be launched. This sale will be based on the investment model, and Binance will determine it based on the user’s 5-day average daily BNB holdings The amount that users can invest. The snapshot cycle of BNB holdings is from 08:00 on March 17, 2023 to 08:00 on March 22, 2023 (Eastern Eighth District time).

Founded in April 2022, SPACE ID is a decentralized domain name service protocol dedicated to building a universal name service network that seamlessly connects people, information, assets and applications across blockchains. And it allows users to bind their identities in multiple chains, and the community can build its own domain name service through the SPACE ID network. So far, more than 40 applications have announced support for integrating the SPACE ID protocol.

In August 2022, SPACE ID launched the " BNB " domain name service on BNB Chain, and quickly gained about 361,000 registrations and 168,000 unique domain name holders within 6 months. After the " BNB" domain name became popular, SPACE ID launched version 2.0, and launched the ".arb" domain name service on Arbitrum earlier this year. Currently, "BNB", "ETH" and ".arb" domain names can be traded on the Space ID official website.

SPACE ID 2.0 provides a one-stop Web3 domain name and identity platform for discovering, registering, trading and managing Web3 domain names. It also includes a Web3 domain name SDK & API for cross-blockchain developers, and provides Multichain name service, making it easy for everyone to create a Web3 identity. It mainly supports the following four aspects:

1. Discovery: As a central hub, users can search for the desired domain name in all supported top-level domains (TLDs), and discover a collection of popular domain names. It also supports functions such as automatic prompts and quick query of domain name registration status;

2. Registration: Users can register all Web3 domain names on the SPACE ID mainnet, and the "BNB" and "ETH" domain names will be the first two top-level domain names supported in the first version of the Mainnet;

3.Trade: A market specially designed for trading Web3 domain names, with aggregated Liquidity from other NFT markets such as OpenSea;

4. Management: A single integrated portal to manage renewals, records and ownership of all of a user's Web3 domain names;

In addition, "One SDK for all" is also one of the main features of SPACE ID. This design aims to unify the architecture to simplify the integration process of Web3 services and eliminate the need for developers to work with multiple protocols, saving time and reducing compatibility risks. In SPACE ID 2.0, the Web3 Name SDK is more powerful than ever - allowing projects to leverage custom domain names to enable the community and partners to better engage with users.

SPACE ID 2.0 also adds an integrated API on top of the SDK as a more comprehensive platform that supports project parties to integrate Web3 services into any application, which means that partners of SPACE ID only need to integrate this Web3 Name SDK, you can connect to all domain name data owned by the user.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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