After having a general idea of Web3 domain and the core SPACE ID 3.0 features, let’s get it started step by step if you are ready for this journey!
Step 1: Prepare Branding & Design
Project Name & Description
TLD (Top-Level Domain): Decide on the TLD you wish to use for your domain, ensuring it aligns with your project's goals and identity.
Logo Image: Design a logo image that represents your project and will be associated with your Web3 domain.
Domain NFT Image: Create an image that will be used as the NFT representing your domain. This image should be unique and eye-catching.
Banner Image: Prepare a banner image that will be displayed on your domain service's landing page, providing a visual introduction to your project.
Social Links: Include links to your project's social media profiles and other relevant web presences to foster online engagement.
Landing Page (optional): Design a landing page to better present the feature highlight and value proposition of your domain.
Step 2: Set Up Domain Parameters
Pricing: Determine the pricing structure for your domain, including the initial registration cost, renewal fees, and any other associated costs & discounts.
Choice of Blockchain: Specify which blockchain network your web3 domain will operate on. Note that this decision may affect factors such as transaction cost.
Registration Rules: Define the rules for registering your domain, including eligibility criteria (e.g. minimum length of the name, etc.) and any restrictions.
Renewal Rules: Outline the rules for renewing your domain, including renewal periods and fees.
Step 3: Set Up Go-To-Market Parameters
Pre-Registration: Decide whether your launch will have a pre-registration period. If so, outline the process and requirements for the early access.
Auction: Determine if an auction mechanism will be used for pre-registration. If so, describe the auction rules and processes.
Step 4: Fulfill Launch Requirements
Stake 10,000 $ID: To initiate the domain launch process, you'll need to stake 10,000 $ID tokens. These tokens are a crucial part of the domain ecosystem and serve as a security measure.
Retrieve 10,000 $ID: you’ll be able to retrieve the 10,000 $ID token staked, once meeting any one of the criteria below:
Reach 10,000 domains registered
Achieve $200,000 USD in domain trading volume
Complete a 1-year staking period
Step 5: Launch Your Domain
After completing all the necessary preparations, you are almost there to launch your Web3 domain. This involves making your domain available for registration or pre-registration, according to the parameters you've set. Ensure that your branding and design elements are in place and that your project is ready to engage with users who wish to register Web3 domains associated with your project. Keep a close eye on the launch process to address any inquiries or issues that may arise during this exciting phase of your Web3 domain project.
To go over all the details, feel free to connect with us in the dedicated telegram group chat!