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Space ID (ID) Token: Governing Web3 Identities (inspired by source)
What is Space ID (ID) Token?
Space ID (ID) is the native governance token of the SPACE ID ecosystem, a platform focused on simplifying web3 identity management. ID tokens empower users to participate in crucial decisions affecting the project’s development and future.
Key Features of Space ID (ID) Token
- Governance: ID token holders have voting rights on Space ID DAO proposals, shaping the platform’s direction and functionalities.
- Staking Rewards: Users can stake ID tokens to receive benefits within the SPACE ID ecosystem, such as discounts on domain registration and marketplace fees.
- Payments: ID tokens might be used for payments within the SPACE ID ecosystem, potentially including Web3 Name SDK integration. (not fully confirmed by source)
Uses of Space ID (ID) Token
- Governance Participation: ID token holders can vote on proposals that influence the future of the SPACE ID platform.
- Earning Staking Rewards: Staking ID tokens allows users to potentially earn rewards and unlock benefits within the ecosystem.
- Potential Ecosystem Payments: ID tokens might be used for future payment functionalities within SPACE ID.