Space Launches Public Sale of Native Token SPACE with Community Ownership Focus

Space has announced the public sale of its native token, SPACE, incorporating a token flywheel mechanism where 50% of revenue is used for buybacks and burns. Developed by the team behind UFO, which had a market cap exceeding $1.5 billion in 2021, Space emphasizes community ownership by allowing users, traders, and supporters to participate equally in the sale.

The token distribution model is variable, based on final market-clearing prices, ensuring fair price discovery. Participation tiers change every 24 hours, rewarding early contributors with bonuses and lifetime benefits.

The public sale has no minimum contribution requirement, though users must meet minimums during active tiers to secure rewards. Space, a leveraged prediction market on Solana, raised $3 million with notable backing, aiming to enhance decentralized prediction markets through gamified incentives and a buyback mechanism.