SPACE ID
Crypto Overview
Overview
SPACE ID is a universal name service network that aims to enable users to create decentralized identities across multiple blockchain networks. The platform provides cross-chain identity and name service infrastructure.
Purpose and Utility
The ID token serves multiple functions within the SPACE ID ecosystem: governance rights allowing holders to participate in protocol decisions, protocol fee distribution to stakers, and access to premium features of the naming service. The platform enables users to register and manage domain names that work across different blockchains.
Business Model Analysis
The core business model revolves around providing decentralized identity and naming services, which is a legitimate technological utility. The platform generates revenue through domain registration fees and renewal fees, which is transparent and does not involve any prohibited activities like interest-based lending or gambling.
Real World Adoption
SPACE ID has established partnerships with various blockchain platforms and has seen adoption from users seeking to create unified digital identities across networks. The platform reports over 500,000 registered domain names across supported chains.
Development Activity
The project maintains active development with regular updates to its infrastructure and features. The team consistently releases new integrations and improvements to the naming service functionality.
Token Distribution
The token distribution includes allocations for team members and early investors with standard vesting periods. While there is a significant allocation to the team and investors, this is common in blockchain projects and doesn't inherently indicate problematic intentions.
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.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.