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SPACE ID is a leading decentralized identity protocol that provides a universal name service network for the Web3 ecosystem.

Key takeaways

• SPACE ID is a multi-chain decentralized naming service protocol, allowing users to register and manage human-readable domain names like .bnb, .arb, and .eth.
• The ID token is the native utility and governance token of the SPACE ID ecosystem, used for payments, staking, and community governance.
• It operates across multiple blockchains, including BNB Chain, Ethereum, and Arbitrum, offering broad interoperability.
• The protocol has seen significant adoption, with millions of domain names registered across its supported networks.
• For Canadian investors, ID is available for trading on major platforms like BTCC.

What is SPACE ID? Key Specifications & Tokenomics

SPACE ID is a foundational Web3 infrastructure project that simplifies blockchain interactions by replacing complex wallet addresses with easy-to-remember domain names.

Who created SPACE ID (ID)?

SPACE ID was founded by a team focused on solving digital identity and accessibility issues in Web3. The project gained early backing and incubation from Binance Labs, the venture capital and incubation arm of the Binance ecosystem, which provided crucial resources and strategic guidance for its initial development and launch on the BNB Chain. The core team, while not as publicly prominent as some founders, consists of experienced developers and product managers in the blockchain space. Their vision was to create a unified naming service that could work across different blockchain networks, moving beyond the single-chain limitations of early solutions. The project's roadmap and major decisions are now increasingly influenced by the decentralized autonomous organization (DAO) comprised of ID token holders.

How does SPACE ID (ID) work?

The SPACE ID protocol functions as a multi-layer system for registering, resolving, and managing blockchain domain names. At its core, it maintains a decentralized registry on each supported blockchain (like BNB Chain and Ethereum). When a user registers a domain (e.g., yourname.bnb), they interact with a smart contract on that specific chain, which records their ownership. This name is then mapped to their blockchain addresses, IPFS hashes, or other data. The protocol's universal resolver is a key technical component; it can query and resolve names across all the integrated chains, providing a seamless experience. Furthermore, SPACE ID has developed a comprehensive Software Development Kit (SDK) and Application Programming Interface (API) that allow other dApps, wallets, and services to easily integrate domain name functionality, driving widespread utility and adoption across the Web3 landscape.

What makes SPACE ID (ID) unique and valuable?

SPACE ID's primary differentiation lies in its native multi-chain approach from the ground up. Unlike some services built for one chain and later expanded, SPACE ID was designed to be chain-agnostic, supporting top-level domains (TLDs) like .bnb, .arb, and .eth natively. This provides unparalleled flexibility for users and developers. Its value is also driven by:

• Strategic Ecosystem Integrations: As a Binance Labs portfolio project, it has deep integration within the BNB Chain ecosystem and is the default naming service for many of its dApps.
• Comprehensive Tooling: The protocol offers a full suite of developer tools, including its SDK, API, and widget, lowering the barrier to entry for any project wanting to add domain support.
• Robust Utility for the ID Token: The ID token is deeply embedded in the protocol's mechanics, used for domain registration fees, staking by TLD managers, and governance, creating consistent demand drivers.
• Growing Network Effect: With millions of domains registered, it has established a significant user base and brand recognition as a go-to identity layer for Web3.

What is SPACE ID (ID) used for?

The ID token serves multiple critical functions within the SPACE ID network, moving beyond simple speculation to enable core protocol operations:

• Payment for Services: ID is the primary currency for paying registration and renewal fees for domain names across all supported TLDs (e.g., .bnb, .arb).
• Governance: ID holders can participate in the SPACE ID DAO to vote on crucial proposals, such as adding new TLDs, adjusting fee structures, or allocating treasury funds from the community treasury.
• Staking for TLD Managers: Entities that operate and manage specific Top-Level Domains (like .arb) are required to stake ID tokens, aligning their incentives with the network's health and security.
• Accessing Premium Features: The token may be used to access advanced features within the SPACE ID ecosystem or for premium domain auctions.

How Is the SPACE ID (ID) Ecosystem Developing?

The SPACE ID ecosystem is in a phase of rapid expansion and deepening integration. Its development is focused on several key areas:

• Chain Expansion: The protocol continues to add support for new and high-potential blockchain networks, broadening its reach and utility.
• Partnership Growth: SPACE ID actively forms partnerships with major wallets (like Trust Wallet, MetaMask), decentralized applications, and centralized exchanges to make .bnb and .arb domains a standard for user identity.
• Product Enhancement: The team is consistently improving its core products, including the Web3 Name SDK, which sees regular updates for better performance and easier integration.
• Community-Driven Governance: With the DAO fully operational, ecosystem development is increasingly guided by community proposals and votes, funding initiatives that the community believes will add the most value, such as marketing campaigns, developer grants, or new tool development.

How to mine SPACE ID (ID)?

SPACE ID (ID) is not a mineable cryptocurrency. It is a utility and governance token that was initially distributed through a Binance Launchpad sale, ecosystem airdrops to early community members and domain registrants, and allocations to the team, advisors, and project treasury. New ID tokens are not created through computational work (Proof-of-Work) or staking (Proof-of-Stake) in the traditional sense. The total supply is capped at 2 billion tokens. The only way to acquire ID outside of the initial distributions is through purchasing it on the secondary market on supported cryptocurrency exchanges like BTCC.

How to keep your ID Coin safe?

Securing your ID tokens requires the same diligence as safeguarding any other digital asset. The best practice is to withdraw them from the exchange after purchase to a self-custody wallet. Here are the recommended options:

• Hardware Wallets: Devices like Ledger or Trezor offer the highest security by storing your private keys offline. Ensure your device supports the Ethereum or BNB Chain networks (via the Ethereum app) since ID exists as an ERC-20 or BEP-20 token.
• Software Wallets: Reputable mobile or browser extension wallets like MetaMask, Trust Wallet, or Rabby are excellent choices for more frequent access and interaction with dApps in the SPACE ID ecosystem.
• Security Hygiene: Always double-check contract addresses when receiving tokens, enable all available security features (2FA, transaction signing), and never share your seed phrase or private keys with anyone. Be cautious of phishing sites impersonating the SPACE ID official portal.

How to buy ID Coin?

ID is a popular cryptocurrency listed on many exchanges. However, it is recommended to trade on a major platform like BTCC exchange for higher liquidity and better customer support.

1. Register a BTCC Account: Sign up using your email or mobile number and complete the KYC verification to unlock more features and benefits of the platform.
2. Deposit Funds: Deposit fiat currency (via bank transfer, card, or third-party payment) or transfer USDT from an external wallet into your BTCC account. You can follow this guide.
3. Start Trading: Go to the trading page and search for the spot trading pair ID/USDT or the perpetual contract ID/USDT.
4. Place an Order: Enter the amount of ID you wish to purchase and submit the order. For contract trading, you can also choose to go short (sell) and adjust the leverage multiplier according to your strategy and risk tolerance.
5. Confirm Your Purchase: For spot purchases, check your personal account to see if the coins have arrived. For contract trades, check the trading page to see if your order was filled successfully.