The ID token will have the following functions:
Stake to receive discounts on Space ID NFT marketplace and Web3 domain registration
Means of payment within Space ID ecosystem and Web3 Name SDK Integration
Hold to participate in governance and vote on Space ID DAO proposals.
In order to participate in the Binance Launchpad event, Binance will calculate exchange users’ BNB holdings over a period of five days, which will determine how much $ID they can buy. The launchpad price is $0.025 per 1 $ID, and tokens will unlock at the public token generation event.
5% of the total $ID supply is allocated to the launchpad event, with a hard cap of $2.5 million. (The launchpad price sets the project’s market capitalization at $50 million.)