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Space ID (ID) Binance Launchpad: Thoughts and Strategy

By bengy | Idle Musings | 18 Mar 2023


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Sigh... In the brief trip home to do an interview, I forgot to take my laptop charger and left it at home. Not a huge deal (except for the lost time to do work that I need to get done that now has to be shunted a couple of days down the track...)...anyway, it just means that I'm trying to get these posts out on a phone.. Which is significantly more difficult to do!

So, today I noticed that there was a new Binance Launchpad up with about 4 days before subscription. Weird, I don't usually see these things that late... But I have been distracted by real life stuff. But on closer inspection, the snapshot countdown was only 5 days instead of the usual 7! Hmmm, I wonder why that change was made?

Anyway, here we are after a long absence with another Binance Launchpad (pssst, CoinList, where have you gone?). This time, it is one that I see some merit in... Not one of these walk to earn or real tokens. This is going to be a bit more interesting...

 

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So, Space ID is going to be the middleman and marketplace of all web3 domain names... Hey, aren't we supposed to be getting rid of middlemen?

Well, yes... But if you have ever had anything to do with the Web3 names... Well, it is a fragmented pain in the arse! I did pick up a batch of ENS (Ethereum) names when it first started, but as each bloody chain copy-catted the idea... Well, it just became easy too annoying to keep up with it all. Besides, I had more faith in Ethereum than any of the other Layer 1 alternatives.

In fact the whole thing just seemed to be a huge name-squatting exercise. So, I opted out of it all...

Now, if there was a single place that could deal with all of the different chains... That would make it easier for real owners and squatters alike. Personally, I am likely to still remain only in Ethereum for web3 identity and name resolution, I don't think it is worthwhile trying to outplay squatters with their bots and land grabs.

 

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So far, Space ID supports bnb and arb identities... Honestly, the arb name is really quite frustrating... There is already the ENS protocol that works just fine for the layer 2s...why introduce more land to grab? Oh right... Dump sales and magic revenue.

Bnb (assuming Bep2, and not BSC) is better.... At least that doesn't have an overlapping system already in place. But does anyone really use bnb chain for anything more than staking and the Dex? Again, I'm not talking about BSC, which is the smart contract chain that most people are familiar with!

 

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Well, there is a nice looking marketplace with a dark theme already in place. I might just toy around with it to see how it works... It would be nice to have a place for only name NFTs without the clutter of other things.

 

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Launchpad price will be 2.5 cents in BNB tokens. As usual, it is a subscription format like all the recent Launchpads. Snapshots in the shortened lead up period will determine your maximum allocation for the 3 hour subscription window. Likely, it will be oversubscribed again, so you can probably expect something on the order of 0.5 percent of your pledged BNB to actually be swapped (you get the remainder back).

 

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The two allocation information pages k one text, and the other in pretty colours). The Launchpad is a little bit on the small side at 5 percent of total supply... Which in itself isn't a problem, except....

 

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... It will NOT be the only source of liquidity when ID is listed! The ecosystem (whatever that is...) allocation and the Community airdrop will also be free from locks and they are larger or similar size to the Launchpad allocation. And airdrop recipients are notorious dumpers....

 

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So, how does it look for this Launchpad? I do like my ENS names, and I think that the concept of we 3 identity and addresses are pretty useful and quite possibly, very important infrastructure. I hate how fragmented the protocols are across chains... But if it is going to be like that, then we DO need a central touch point to trade and register these NFTs.

So, colour me interested. I will be taking part with my maximum allocation again... But this time I might not dump everything too fast, and will likely hold a larger moonbag.... Plus, I might be trying to Mop up some of the puke from the dumpers as well.

So, much much more worthwhile than the Earn-to-blah tokens that have just been immediate dumps!

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I can also be found cross-posting at:
Hive
Steem
Publish0x

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bengy
bengy

I am a Musician (Violinist/Violist) specialising in Early Music living in The Netherlands. I have a background in Mathematics and Physics due to an earlier tertiary level study... and so, I'm still quite interested in Science and Technology related stuff!


Idle Musings
Idle Musings

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