Binance Launchpad has announced its 30th project, Space ID (ID), which promises to usher in a new era for decentralized identity management. The project is set to revolutionize how we interact with digital identities, putting the user in control of their own data.
Space ID is a decentralized identity protocol that allows users to create, manage and control their digital identities. It aims to eliminate the need for centralized authorities that store personal data and access rights, which are vulnerable to hacking and misuse.
The Space ID platform is built on the Ethereum blockchain, enabling secure, transparent and decentralized management of digital identities. It also utilizes smart contracts to automate identity verification processes and reduce the risk of fraud.
The project has garnered significant interest from investors, with a hard cap of $2.5 million for the token sale on Binance Launchpad. The ID token will be priced at 0.025 USD, and BNB will be the only supported session.
To participate in the token sale, users must have completed their account verification and be from an eligible jurisdiction. During the preparation period, user BNB balances will be calculated in hourly snapshots over a five-day period, with the final average daily BNB balance determining the maximum amount of BNB that can be committed.
During the subscription period, which lasts for three hours, eligible users must sign the Token Purchase Agreement before committing their BNB. Once committed, the BNB will be locked and cannot be redeemed or accessed until final token distribution.
The project has received positive reviews from industry experts, who are excited about the potential of decentralized identity management. It promises to provide users with greater control over their personal data, enhancing security and privacy.
Space ID’s unique selling point is its focus on user-centric identity management, which is a significant departure from traditional identity systems. With the project’s launch on Binance Launchpad, investors and users alike are eager to see how it will revolutionize digital identity management.
The launch of Space ID on Binance Launchpad represents a significant step forward for decentralized identity management. With its innovative approach to identity verification, the project promises to provide users with greater control over their data, enhancing privacy and security. As the world becomes increasingly digital, projects like Space ID will play a vital role in shaping the future of online identity management.
ID Token Sale Details:
- Token Name: Space ID (ID)
- Launchpad Hard Cap: 2,500,000 USD
- Hard Cap Per User: 15,000 USD (600,000 ID)
- Total Token Supply: 2,000,000,000 ID
- Total Tokens Allocated to Binance Launchpad: 100,000,000 ID (5% of Total Token Supply)
- Public Sale Token Price: 1 ID = 0.025 USD (price in BNB will be determined prior to subscription)
- Token Sale Format: Subscription
- Supported Sessions: BNB only
- Preparation Period 2023-03-17 00:00 (UTC) to 2023-03-22 00:00 (UTC): During this period, user BNB balances will be calculated in hourly snapshots for each day over a five-day period. Your final average daily BNB balance over these five days will determine the maximum amount of BNB that you can commit later on.
- Subscription Period 2023-03-22 06:00 (UTC) to 2023-03-22 09:00 (UTC): Subscription will open at this time for all eligible users for a three-hour period. Users must also sign the Token Purchase Agreement at the same time, prior to committing their BNB. Please note that once committed, your BNB will be locked and you will not be able to redeem or access any other functions such as transfers, withdrawals or trading until final token distribution.
- Calculation Period 2023-03-22 09:00 (UTC) to 2023-03-22 10:00 (UTC): Subscription closes and token allocation calculation begins.
- Final Token Distribution 2023-03-22 10:00 (UTC): Your final token allocation will be calculated and the corresponding BNB will be deducted from your already-locked BNB amount. Once deducted, your ID and BNB tokens will both be transferred to your spot wallet.
To learn more about Space ID (ID), read Binance Research’s in-depth report here.