Altcoin SPACE ID, a universal name service network, expands its community-driven governance with the creation of a DAO (decentralized autonomous organization) and local ID management token.
Altcoin Brings Space ID DAO to Life
This move aims to take the project to the next level and empower the community to make decisions regarding the development and growth of the network.
The SPACE ID network has been attracting attention recently and is experiencing rapid growth. The team behind the project aims to leverage this momentum to further improve the functionality and usability of the network.
Also, with the establishment of the DAO Treasury, the SPACE ID platform's revenue distribution will include all registration revenues accumulated since the TGE date, creating a quarterly buyback and incineration mechanism going forward.
SPACE ID DAO will allow community members to suggest and vote on changes to the network, including new features, improvements, and integrations.
The ID token will serve as a governance token, providing its holders with voting rights and decision-making power. It will also be used to stake and encourage participation in the network.
Overall, the SPACE ID project is dedicated to creating a more decentralized internet where individuals can have more control over their online identity and data.
The creation of the DAO and ID token is an important step towards achieving this goal as it enables the community to actively contribute to the growth and success of the project.
With the addition of DAO and ID token, SPACE ID is poised to become a major player in the blockchain-based naming service space.
The project's commitment to community-oriented management and decentralized decision-making is a welcome change in an industry traditionally dominated by centralized organisations.
*Not investment advice.