Mode Name Service, powered by SPACE ID, stands out by creating a universal name service network aimed at simplifying the discovery, registration, trading, and management of web3 domains. The governance of SPACE ID revolves around its token, ID, which empowers users to participate in decision-making, ensuring the platform remains community-driven and focused on growth. SPACE ID is governed by a DAO, with $ID token holders having a significant influence over its direction through a transparent and decentralized voting process.
Value Proposition:
Mode Name Service is powered by SPACE ID. Space ID is building a universal name service network with a one-stop identity platform to discover, register, trade, manage web3 domains. It also includes a Web3 Name SDK & API for developers across blockchains and provides a multi-chain name service for everyone to easily build and create a web3 identity.
Governance:
SPACE ID DAO is governed by $ID token holders and controls the funds held in the DAO Treasury. It provides a framework for our community to work together towards common goals, all within a transparent, secure, and decentralized environment. For a DAO proposal to pass, it needs to receive a minimum of 50% passing votes from wallet addresses holding a total of at least 5,000,000 ID tokens.Once a proposal is passed, it will be executed by the core team, with funding distribution (if required) authorized by the multi-sig signers elected by the DAO.
Tokenomics:
ID is the governance token of SPACE ID. It is designed to play a critical role in the decision-making process of the project, allowing users to have a say in the direction and future of SPACE ID. The ID token serves as an essential part in the growth and sustainability of the SPACE ID ecosystem, incentivizing users to engage with the project and contribute to its success. With the launch of ID, SPACE ID is poised to become a leader in the Web3 indus
Previous Funding:
SPACE ID, a startup building a universal name network for decentralized identities, has raised $10 million in a strategic funding round led by crypto investment firms Polychain Capital and dao5. The funding will be used toward developing the network, hiring and new products,
