SPACE ID is a decentralized identity protocol focused on providing users with cross-chain, decentralized identity solutions. It aims to simplify the process of managing Web3 usernames across different blockchains, creating a unified digital identity system. While the project has garnered attention for its innovative approach, the future of SPACE ID remains a topic of interest as investors and users question whether the project can break through to broader adoption or remain a niche player.
Current Stability in the Market
As of now, SPACE ID has maintained a relatively stable presence in the market. Its unique identity management solutions, which help users simplify their cross-chain interactions, have been appealing to a specific segment of the crypto community. However, despite its niche success, it hasn’t experienced the explosive growth seen in some other projects in the decentralized space.
This stability may be due in part to the fact that decentralized identity solutions are still a developing area within Web3. Many users are still focused on more mainstream use cases like DeFi, NFTs, and staking, rather than identity management. This slow adoption rate could continue, but the potential for growth exists as the Web3 ecosystem matures.
Challenges Ahead for Broader Adoption
One of the main hurdles SPACE ID faces is user adoption. Decentralized identity solutions, while important, aren’t always the first priority for crypto users. For many, security and convenience are key, and not everyone sees the need to manage their digital identities across multiple chains just yet.
Additionally, competitors in the identity space, such as ENS (Ethereum Name Service), are already well established, making it difficult for new players like SPACE ID to carve out a dominant position. To stand out, the project will need to offer more compelling use cases or partner with major blockchain projects to bring its solutions into the mainstream.
Can SPACE ID Innovate Further?
For SPACE ID to succeed long-term, innovation will be crucial. The protocol must continue to develop new features that simplify identity management or address problems users didn’t even know they had. Integrating with popular decentralized apps (dApps) or collaborating with other protocols to offer seamless cross-chain identity management could help the project capture more market share.
Another potential growth area is in decentralized finance (DeFi) and the emerging metaverse. As users seek to establish identities that persist across various platforms and applications, SPACE ID could find itself in a prime position to offer those services. However, this will depend on the team’s ability to stay ahead of competitors and continuously improve their product offerings.
Future Outlook: A Wait-and-See Approach
While SPACE ID has maintained a stable position thus far, the project’s future hinges on how the Web3 space evolves. If cross-chain solutions and identity management become more integral to the broader ecosystem, SPACE ID could see significant growth. However, if user interest remains focused on more immediate use cases like DeFi and NFTs, it may struggle to break out.
For now, SPACE ID remains a project with potential, but it’s not guaranteed to experience the kind of rapid growth that investors might be hoping for. A steady, stable trajectory seems most likely in the near future, with room for expansion if the team can execute its vision effectively.
1. Have you used SPACE ID’s services? Share your experience and expectations!
2. Stay updated on the latest Web3 developments—subscribe now.
#SPACEID #Web3 #BlockchainIdentity #CrossChain #CryptoInnovation

SPACE ID, a decentralized identity platform, has announced an Early Adopter Airdrop for its $ID tokens. The platform aims to reward its earliest supporters who believed in the project’s vision from the beginning. The retroactive airdrop is the platform’s way of showing gratitude and appreciation for the unwavering support it has received.

According to the announcement, eligible users for the airdrop are approximately 294,000 addresses that hold .bnb or .arb domain at snapshot time. The snapshot time was March 14th at 2 PM UTC, and the corresponding BNB Chain block number is 26459696, and the corresponding Arbitrum One block number is 69763080. The total allocation of the airdrop for claiming is 42,000,000 ID tokens, which is approximately 2.1% of the total ID token supply and 21% of the airdrop pool (10% of the total supply).

Token Contract (ERC20, BEP20): 0x2dfF88A56767223A5529eA5960Da7A3F5f766406, available on Ethereum (id.spaceid.eth) and BNB Chain (id.bnb). The airdrop claiming will be on BNB Chain.

The claimable amount is calculated based on various factors, such as holding days, days to expiry, having a valid primary name (.bnb or .arb), Voyage: Prime NFT, Voyage: Legacy NFT, Voyage: Awakening NFT, and all Voyage Prime/Legacy/Awakening NFT. Additionally, the number of other OATs held (issued by SPACE ID on Galxe), holding a 3/4/5(+) character .bnb, holding a 3/4/5(+) character .arb, holding both .bnb and .arb, are taken into consideration.

To claim the retroactive Early Adopter Airdrop, eligible users can visit space.id/voyage and click on Voyage Season 1 to see their achievements and claimable amount. The claiming process will be live from March 22nd to April 22nd, 2023, on the BNB Chain. Any unclaimed tokens will be sent back to the airdrop pool for future rewards.

The platform has also allocated 200,000 ID tokens to Steven Lei, an outstanding developer and contributor, and 200,000 ID tokens to Space Auroras, Space Novas, and Cosmic Astras, who have been incredibly helpful in their Discord. Additional ID tokens will be distributed to over 100 integration partners who have contributed to the adoption of SPACE ID domains.

For users who missed the snapshot time for the retroactive Early Adopter Airdrop, all the .bnb/.arb registrations after the snapshot will be counted in Voyage Season 2 – Calling. The rest of the airdrop allocation is reserved for Voyage Season 2 and future campaigns. The platform is also excited to announce Voyage Season 2, and users can get started at space.id/voyage/season-2. Check out the detailed rules & tutorial in https://docs.space.id/getting-started/programs/space-id-voyage-season-2-calling.

SPACE ID is building a universal name service network with a one-stop identity platform to discover, register, trade, and manage web3 domains. The platform also provides a Web3 Name SDK & API for developers across blockchains and offers a multi-chain name service for everyone to easily build and create a web3 identity. With the Early Adopter Airdrop, SPACE ID hopes to show its appreciation to its earliest supporters and continue to develop and grow its decentralized identity ecosystem.

As AZCoin News reported, Binance recently unveiled Space ID on Binance Launchpad. The token sale for Space ID will follow Binance Launchpad’s subscription format, with user BNB balances being recorded 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.

#SPACEID #Binance #ID #dyor #azcoinnews

This article was republished from azcoinnews.com

Injective is poised to introduce the world’s first native .inj domain names through #SPACEID , and the eagerly awaited pre-registration event is just around the corner. Over the past month, Injective’s ecosystem partners have orchestrated a series of quests, rewarding participants with exclusive access to pre-register their personalized $INJ domain names. In this article, we will delve into the specifics of the pre-registration process and its rules as we approach the launch.

Prepare yourselves to partake in the pre-registration event and secure your Web3 domain names on Injective!

A Glimpse into INJ Domain Names

INJ ID is currently developing the .inj domain name service on Injective, powered by the SPACE ID 3.0 infrastructure. This decentralized naming system is set to become an integral part of the burgeoning Injective ecosystem, offering everyone the opportunity to own their very own native INJ domain names. These names can be used across wallets, websites, decentralized applications (dApps), and more within the #Injective ecosystem.

Owning an INJ domain name offers numerous advantages, including:

Establishing a Personal Web3 Brand Identity

Simplifying Transactions with Short Domain Names Instead of Complex Wallet Addresses

Facilitating Crypto Transactions, NFT Trading, and Digital Asset Management Using Your Custom .inj Domain

Who Qualifies for the Pre-registration Whitelist?

At Injective, our most active community members always take precedence. To initiate our pre-registration phase, we’ve already hosted a series of quests and external campaigns through Injective partners on various platforms. Ultimately, all these active participants in the Injective ecosystem will be included in the pre-registration whitelist.

For each “INJ ID Quest” OAT Badge you’ve earned (INJ ID Quest 1, INJ ID Quest 2, INJ ID Quest 3), or each time you’ve won a giveaway campaign organized by Injective partners, you’ll gain the opportunity to register one .inj domain name during the pre-registration phase. The more OATs you possess and the more giveaway campaigns you’ve won, the more .inj domain names you can secure for yourself!

Please note: The maximum bid quota is five domain names, so even if a single address has won more than five spots, each address will receive up to five whitelists for their bid quota.

Participating in the INJ Domain Pre-registration Event

The INJ domain pre-registration consists of two stages: the auction stage and the first-come-first-serve (FCFS) registration stage. These stages are designed to ensure a fair registration process while minimizing bot activity.

Auction Stage

The pre-registration commences with a five-day auction stage, exclusively open to whitelisted addresses with a maximum bid quota of five.

During this stage, early users can bid on new names and continue bidding on existing ones without consuming their bid quota.

The price of a new bid must be at least 105% of the previous bid.

If you’re outbid by others, you can choose to continue bidding on that name or receive an immediate refund. Opting for a refund will forfeit your bid quota for bidding on another name.

Winning the auction grants you the right to register the name, and it will be reserved for the auction winner for a period of one year (default). The first-year registration fee is already included in the auction, making the first-year registration free.

In the last 15 minutes of the auction, any new bid will reset the remaining auction time to 15 minutes.

Domain Name Pricing

Discounts are offered as perks during the pre-registration stage for early users and apply to multiple years.

Starting bid prices for names with 3/4/5+ characters are $180/$40/$4.5 worth in INJ, corresponding to the discounted 1-year registration price.

3 characters: $180/year (40% discount to $300/year)

4 characters: $40/year (20% discount to $50/year)

5 characters and more: $4.5/year (no discount)

First-Come-First-Serve (FCFS) Stage

The second phase of pre-registration is FCFS and begins shortly after the auction stage concludes. This phase will last for five days.

Auction winners can register the .inj names they’ve won, while others can register the remaining names on an FCFS basis, depending on their remaining quota.

For instance, if you bid on 5 names in the auction and won 2 out of 5, the remaining 3 bid quotas will become “Register Quota” for use in the FCFS registration phase.

If you didn’t participate in the auction or didn’t win any names, all of your bid quotas will remain valid and convert to “Register Quota.”

Format Requirements for Domain Names

Each name must be at least 3 characters in length.

Names are case-sensitive, allowing only lowercase letters and no capital letters.

Special characters such as “:”, “/” are not supported, but “-” is allowed.

Emojis are generally supported.

Names in different languages are also generally supported.

Reserved .inj Domain Names

Some .inj domain names are reserved exclusively for partners and dApps in the Injective ecosystem and will not be available for registration. This decision is driven by the potential these names hold to expedite the widespread adoption of .inj names, enhancing the overall community experience.

What’s on the Horizon?

Public registration, open to everyone, will commence soon after the conclusion of the two phases of pre-registration. Additionally, the trading of .inj domain names will be supported on NFT marketplaces on Injective, including #Talis . Further details on this will be announced in due course.

The .inj domain name service is poised to become the decentralized identity standard across the Injective ecosystem and its numerous dApps. This incredible journey would not have been possible without the support of each and every one of our community members.