SPACE ID
Crypto Overview
Project Overview
SPACE ID is a decentralized identity and naming service platform launched in 2023. The platform aims to create a universal name service network that connects different blockchain identities, NFTs, and digital assets under unified domains.
Intended Utility
The ID token serves multiple purposes within the SPACE ID ecosystem: governance rights for protocol decisions, staking rewards for participating in network security, and payment for domain registration and renewal services. The platform primarily focuses on providing Web3 identity solutions through domain name services across multiple blockchains.
Actual Utility Analysis
The platform demonstrates genuine utility through its operational naming service, with over 600,000 registered domains across various chains including BNB Chain and Arbitrum. The project maintains active development, with regular updates and improvements to its infrastructure. Real-world adoption is evidenced by partnerships with major blockchain platforms and integration with numerous Web3 applications.
Token Distribution and Governance
The token distribution shows a relatively balanced allocation: 40% for community incentives, 25% for team and advisors (with 4-year vesting), 20% for investors (with 2-year vesting), and 15% for ecosystem development. The vesting schedules and lock-up periods appear reasonable and designed to prevent immediate dumps.
Development vs Marketing
The project maintains a healthy balance between development and marketing activities. The development team regularly pushes updates to their GitHub repositories, and the platform consistently releases new features and improvements. Marketing efforts appear focused on educational content and partnership announcements rather than price speculation.
Crypto Impact
To assign a comfort level investing in SPACE ID from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to SPACE ID.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
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You can change your vote if you change your mind.