History of SPACE ID coin
The history of the SPACE ID (ID) coin is closely tied to the development and launch of the SPACE ID decentralized identity protocol. Here's a breakdown of the key historical points: Concept and Foundation Founded (2022): The SPACE ID project was founded in 2022 in Singapore by a team of web3 enthusiasts and engineers.1 Its mission is to create a universal name service network and a one-stop platform for managing Web3 domains and digital identities across multiple blockchains (like .bnb and .arb). Funding (2022 - Early 2023): The project received significant backing from reputable investors. Seed Round: Led by Binance Labs (the venture capital arm of Binance). Strategic Round: Led by Polychain Capital and dao5. In total, the project raised $10 million in funding over these early rounds. Token Launch (ID Coin) Initial Exchange Offering (IEO): The native governance token, ID, was launched via a heavily oversubscribed Initial Exchange Offering (IEO) on Binance Launchpad. Launch Date (March 2023): The token generation event (TGE) and initial distribution of the ID coin took place on March 22, 2023.The public sale price on Binance Launchpad was $0.025 per ID token.The ID token operates primarily on the Ethereum platform (as an ERC-20 token) ⚙️ Utility and Ecosystem Growth Since its launch, SPACE ID has focused on expanding its utility and ecosystem: Core Functionality: It serves as a decentralized network that provides the core functionality for Web3 domain registration, resolution, management, and governance. Key Use Cases for ID Token: Governance: Token holders can vote on proposals for the SPACE ID DAO (Decentralized Autonomous Organization). Payments: Used as a means of payment for Web3 domains and for the Web3 Name SDK Integration. Staking: Users can stake ID tokens to receive discounts on trading fees in the native NFT marketplace and on Web3 domain registration fees. Milestones: The project has achieved milestones like integrating with over 100 leading protocols (including BscScan, Trust Wallet, and ApeSwap) and expanding its multi-chain support. Tokenomics Summary|
Feature |
Detail |
|
Token Name |
SPACE ID |
|
Ticker |
ID |
|
Total Supply |
2,000,000,000 ID |
|
Initial Circulating Supply |
14.3% of total supply (286M ID) |
