SPACE ID has used approximately 1 million US dollars in stablecoins to repurchase and destroy about 3.1 million IDs

ChainCatcher news, the Web3 domain and identity platform SPACE ID tweeted that the ID buyback and burn (IDP3) has been successfully executed, using 1,031,115.4 stablecoins to buy back and burn 3,107,377.8 IDs. The other half of the platform's revenue (from March 23, 2023, to June 23, 2023) will be transferred to the SPACE ID DAO treasury's multi-signature addresses on different chains, including Ethereum, BNB Chain, and Arbitrum. In addition, SPACE ID has also completed the transaction of $200,000 grant program funds (IDP2).

ChainCatcher previously reported that on June 20, SPACE ID initiated a proposal vote to "suggest the purchase and burn of ID tokens," proposing to use 50% of the total revenue generated by the SPACE ID platform from March 23 to June 23 for the purchase and burn of ID tokens, while the remaining 50% of the platform's revenue would be allocated to the DAO treasury, managed by all eligible ID token holders. (Source link)