SPACE ID is not your typical crypto project. It provides a universal name service network and identity platform where you can register, trade, and manage your Web3 domains with ease. The platform even comes with a Web3 Name SDK and API, giving developers powerful tools to create and build across different blockchains.
At the centre of this ecosystem is the ID token, which unlocks all these possibilities. The ID token does more than fuel the system. It lets you take part in governance decisions, gives you fee discounts on domain registrations and trades when staked, and even works as a payment method inside the ecosystem.
By staking your ID tokens, you’re not only securing benefits for yourself but also supporting the growth and stability of the SPACE ID platform. This makes staking ID an exciting way to earn while actively backing a project that is set to become a one-stop solution for digital identity in Web3.
How to Stake Space ID (ID)?
Staking Space ID (ID) allows you to earn rewards while contributing to the network’s governance and security. The process involves acquiring tokens, securing them in a compatible wallet, and delegating them through a pool. Here’s a detailed, step-by-step guide to staking ID tokens.
Step 1: Obtain Space ID (ID) Tokens
You must first purchase ID tokens on a reliable cryptocurrency exchange. Platforms like OKX, Binance, BTSE, Bitget, MEXC, and Bitmart list the token. Prices can vary across exchanges, so you should always check live rates before buying. Once purchased, transfer your tokens to a wallet that supports Space ID instead of leaving them on the exchange for long-term safety.
Step 2: Choose and Set Up a Compatible Wallet
You need a wallet that works with Space ID on either Ethereum or BNB Chain. Popular options include:
- MetaMask: You can add the ID token contract manually by entering 0x2dfF88A56767223A5529eA5960Da7A3F5f766406 under the custom token section.
- Space ID Wallet (if supported): This functions similarly, where you add the token manually.
Always secure your seed phrase by backing it up in a safe place. Never send funds directly to the contract address, as this will result in permanent loss.
Step 3: Delegate Your ID Tokens via a Staking Pool
Staking pools allow you to combine your tokens with those of other users, improving validator selection chances. To delegate:
- Open the staking or DeFi section in your wallet.
- Select Space ID and choose a trusted pool or validator.
- Enter the amount of ID you want to stake.
- Confirm the transaction through your wallet.
Once done, your stake contributes to block validation, and you earn proportional rewards.
Step 4: Confirm and Start Earning Rewards
After you confirm the staking transaction, wait for on-chain validation. This process may take a few minutes, depending on network traffic. Once confirmed, your ID tokens become active in the staking pool, and rewards begin to accumulate. By staking, you may also qualify for future community airdrops, offering additional incentives beyond standard rewards.
Step 5: Unstaking Space ID
Before staking, familiarise yourself with the associated costs and restrictions:
- Transaction fees: Every staking and unstaking transaction requires a fee on Ethereum or BNB Chain.
- Pool-management fees: Validators or pools may charge a percentage of your rewards for managing the staking process.
- Unstaking periods: Some pools enforce a lock-up or cooling-off period before you can withdraw your tokens.
These elements affect your net rewards and determine when you can access your funds. Always review these terms before committing your tokens to a staking pool.
Popular Video Guides on Staking Space ID (ID)
Best Places to Stake Space ID (ID)
Here’s where you can stake your Space ID tokens easily:
Binance is centralised cryptocurrency exchange. It offers staking services via its “Earn” section, including flexible, locked, and DeFi staking options. Binance supports “soft staking,” allowing users to hold eligible tokens in their Spot accounts while still earning rewards, and “locked staking,” which requires tokens to stay locked for fixed periods for higher yields. The platform handles all technical aspects of staking, simplifies user experience, and supports many staking‐eligible assets. It also supports staking of Space ID (ID) tokens on its Earn products.
Pros:
- Binance offers multiple staking options (soft, flexible, locked, DeFi) so users can pick what suits their risk and liquidity needs.
- The platform supports Space ID (ID) in its Earn portfolio, enabling users to stake ID tokens and earn rewards.
- Users avoid managing nodes or validators; Binance handles all technical staking infrastructure and distribution of rewards.
- Binance often provides competitive APYs compared to many exchanges for certain assets, especially when locking tokens.
Cons:
- Some staking rewards or yield programs come with lock-up periods, which reduce liquidity if users need access to tokens quickly.
- Binance may group stakeable assets with other “Earn” offerings where rewards are derived from various sources; this can make yield origin and risk less clear.
- Geographic or regulatory restrictions affect staking options; for example, Binance.US offers fewer staking assets and tighter rules.
Bybit operates as a global, centralised cryptocurrency exchange and Web3 staking platform. It enables users to stake tokens like Space ID (ID) through its Web3 Staking and On-Chain Earn services to earn rewards. It provides a single interface to manage staking across multiple protocols without hopping between networks. Bybit enforces identity verification, offers competitive APRs, supports flexible and locked staking periods, and ensures user assets remain accessible. It combines security, convenience, and a broad feature set for token holders.
Pros:
- Bybit allows staking Space ID along with other cryptocurrencies through its Web3 Staking and On-Chain Earn, which simplifies earning returns from tokens.
- It offers flexibility: some staking options let users unlock their tokens anytime, reducing the risk of being locked into long periods.
- It enforces Know-Your-Customer (KYC) and uses security measures like proof-of-reserves, bolstering trust in the staking service.
- It centralises staking in one dashboard, saving time and reducing the complexity of managing multiple staking protocols.
Cons:
- Bybit restricts the availability of some staking products in certain countries or regions owing to regulatory limitations.
- Some staking options may carry lower APRs compared to more risk-intensive DeFi staking or liquidity-pool staking elsewhere.
- Locked staking periods can limit liquidity, preventing withdrawals until after the lock-up ends.
- Users must complete identity verification before accessing many staking features, which can delay participation.
KuCoin serves as a global cryptocurrency exchange and staking hub that offers both fixed and flexible staking of assets directly on the blockchain. Users stake via KuCoin Earn and receive daily interest payments. KuCoin supports more than forty cryptocurrencies for staking. It integrates its native token KCS into a loyalty program, which unlocks benefits like trading fee discounts and VIP privileges. Redemption periods vary by asset, and some products require lock-ups, though many provide flexible terms.
Pros:
- KuCoin pays staking rewards daily, ensuring users see returns without long delays.
- It offers both flexible and fixed-term staking, allowing users to choose based on their liquidity needs.
- The platform supports many assets (over 40), enabling diversification in staking options.
- Its loyalty program, achieved through staking KCS, offers perks including trading fee discounts and enhanced privileges.
Cons:
Benefits of Staking Space ID (ID)
Staking Space ID (ID) gives you more than just financial growth opportunities. It also strengthens your involvement in the platform’s ecosystem, offering rewards, exclusive benefits, and governance rights. By locking your tokens, you not only earn additional income but also contribute to the platform’s overall health and long-term success. Let’s explore the key advantages of staking Space ID in detail.
Earn Passive Income with Rewards
One of the most attractive reasons to stake Space ID is the potential to earn passive income. Stakers receive rewards in the form of extra ID tokens, often at competitive rates. Some platforms offer annual returns that can reach up to 35% APY, making staking a reliable way to grow your portfolio while holding onto your tokens.
Gain Discounts on Fees and Registrations
Staking ID tokens comes with cost-saving advantages. You can enjoy reduced fees when trading on the Space ID domain NFT marketplace. Additionally, you gain discounts on Web3 domain registration costs. These perks make staking practical and rewarding for users who frequently interact with the platform’s ecosystem.
Strengthen the Network’s Ecosystem
Your staked tokens contribute to the security, liquidity, and overall health of the Space ID platform. By participating in staking, you actively help maintain stability and strengthen the network. This contribution ensures smoother operations and long-term growth for all users involved.
Participate in Governance Decisions
Staking ID tokens provides you with governance rights. You can propose or vote on important initiatives that shape the future of Space ID. Larger or longer-term stakes often carry greater voting power, giving committed participants more influence over the platform’s roadmap.
Unlock Opportunities for Airdrops
Holding and staking ID tokens increases your chances of receiving future airdrops or exclusive token distributions. Higher-tier staking often gives you priority access to these opportunities, allowing you to benefit from the project’s growth and community-focused rewards.
Frequently Asked Questions
How Do I Stake ID Tokens To Unlock Premier Club Boosters?
To gain access to Premier Club Boosters, you need to stake specific quantities of $ID tokens. The staking tiers currently allow users to unlock Tier 1 by staking 100 $ID, Tier 2 by staking 500 $ID, and Tier 3 by staking 2,000 $ID. Staking is done on the BNB Chain, and there is no lock-up period: you may stake and withdraw at any time. However, staking more than 2,000 $ID doesn’t grant extra benefits beyond Tier 3.
Are There Any Lock-Up Periods Or Withdrawal Restrictions When Staking ID?
According to current rules for staking SPACE ID, there is no lock-up period in certain cases when staking for Premier Club Boosters on BNB Chain; you can stake and withdraw anytime. That said, in other staking programmes (especially via third-party platforms or fixed-term offers), there may be minimum periods, cooldowns, or conditions. Always check the specific staking product for its withdrawal rules.
How Is Reward Or Benefit Calculation Done For Staked ID?
Rewards or benefits from staking ID are typically calculated based on several factors, including the amount staked, the tier or staking programme joined, the duration of staking, and snapshots of staking amounts for programmes like Premier Club boosters. For example, to use the Booster tiers, your staking amount over time is tracked by future snapshots. The more you stake (up to the maximum relevant tier), the more benefits you unlock.
Are There Any Risks Or Disadvantages To Staking SPACE ID?
Yes. While staking offers benefits, there are risks. Market value fluctuations may reduce the USD value of your staked ID. If staked tokens are required for the launch of TLDs or domain applications, positions might be locked or required for specific actions, limiting flexibility. Also, if a staking interface or smart contract has bugs or security concerns, there is a risk. Communities and staking platforms can change rules so that you may lose or gain benefits unexpectedly. Always stake through trusted channels.
How Frequently Are Staked ID Tokens Counted For Premier Club Snapshots?
For Premier Club benefits, SPACE ID uses snapshots over time to track how much $ID you’ve staked. These snapshots are used to determine eligibility and Booster tier assignment. Your staking amount must meet the thresholds by the time of these snapshots. Therefore, even if you stake at any time, what matters is how much you hold staked when snapshot moments occur, so timing and consistency are important.
