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Learn about Space ID – the 30th project launched by Launchpad on Binance

Space ID is the 30th project listed on Binance as a Launchpad on March 22, in this article, we will learn about the project as well as the ID token. What is SpaceID? this is a project that specializes in domain names on the BSC chain, like ENS on the Ethereum network. However, the project is quite ambitious when it has cooperated and contracted the .arb Name Service domain name service on both the Arbitrum network and built a marketplace to facilitate the registration, purchase and sale of domain names of 3 systems BSC, Arbitrum and Ethereum, with the goal of being a *Multi-chain Name Service.* Provider in terms of potential, the domain name array can now be considered as an indispensable piece of any ecosystem. The newly launched websites will all have projects that provide domain names such as Aptos Names, SUI Name Services,… Domain names will have useful new roles in the Web3 space, for example, instead of displaying If it displays a wallet address with a confusing sequence of numbers and characters, it will only show unique wallet address names on blockchain dApps or browsers. In addition, domain names can have the same collectible value as NFTs (even more powerful than image NFTs, as rare domains are more identifiable, similar to collecting license plates). or beautiful sim card, …), can be seen through the collections of 999 Club, 10K Club,… Specifically, Space ID, the project has now provided more than 440 000 domain names for wallet addresses. on the BSC network, has integrated the feature of displaying domain names instead of wallet addresses on Bscscan browser and Trust Wallet wallet and more than 100 other projects. The project’s official token is ID, let’s learn and quickly analyze the project’s tokenomics. Total supply: 2 billion tokens, which will be distributed and paid as follows: * Binance Launchpad: 100 million tokens (accounting for 5%), paid in full at the time of exchange listing * Advisor: 140 million tokens (accounting for 7% ). Seed sale: 400 million tokens (20%). every quarter until Q4/2028 * Ecosystem: 200 million tokens (accounting for 10%), unlock 50% at launch time (100 million tokens), the remaining 50% pay monthly until March 2026 * Marketing : 260 million tokens (accounting for 13%), unlock 10% at the time of launch, the remaining 90% are paid monthly until March 2027 * Foundation: 240 million tokens (accounting for 12%), unlocked, returned months until March 2027 * Community Airdrop: 200 million tokens (accounting for 10%), 30% paid at launch, 70% remaining paid monthly until March 2025 => initial circulating supply will be 286 million tokens (14.3% total supply) Backer, Space ID has 2 rounds of funding * Seed round: led by Binance Labs in September 2022, undisclosed capital * Strategic round: led by Polychain and dao5 last February 2023 with a capital of 10 million USD. About the usecase of the ID token, used for: * Project administration * Staking to reduce transaction fees for domain names on the marketplace or register a new domain name * Payment unit in hst Space ID About token price * Seed sale: no have information * Strategic sale: self-calculated at about $ 0.0625 * Launchpad: $ 0.025 => Conclusion: Space ID is a project worth putting on the watch list to keep for the next season because: * The array of practical activities , well-built project * Good backer (Polychain and Binance Labs are VCs ranked in tier 1) * The project is the face of CZ (mainstream domain on BSC, Binance Labs seed round investment, list on Launchpad) should be reduced the risk of the project dying or doing crap. * Long-term Tokenomics, tokens for investment funds and teams are locked and the payment schedule lasts from 3-5 years * Token usecase is quite good, has an additional role to use in addition to administration * The project has revenue and community However, it is necessary to wait until the token is listed to consider whether the valuation is reasonable or not. For comparison, ENS is also another domain name project, currently with a cap of about $ 370 million. Normally, list projects often cost 20-25 times more than Launchpad price, so predict the cap of Space ID when listing will fall in the range: 286 M x 0.025 x 20 = $ 143 million, and a nice price to buy. usually about 10 times the Launchpad price, or about $0.25. Of course, this is just a prediction, the decision to buy will have to depend on the market situation and the actual chart after the token is listed. Note that all information is for reference only and is not investment advice, good luck to everyone making a lot of $$$

Source: Collector



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