KEY3.id Releases Early Bird Event: Gas Fee Consumption Surpasses ENS, Public Claim Coming Soon

KEY3.id, a pioneering decentralized identity (DID) protocol, recently launched its Early Bird event, introducing the .did domain. This event has garnered significant attention, with over 10,000 users participating online within the first 24 hours. The resulting on-chain gas fee consumption surpassed that of the Ethereum Name Service (ENS), highlighting the growing interest and adoption of KEY3.id’s innovative approach to digital identity.

Key Features and Advantages of .did Domain

Permanently Free and Inclusive

The .did domain offered by KEY3.id is designed to be permanently free, eliminating the recurring costs associated with traditional domain ownership. This feature significantly lowers the entry barriers for users and encourages broader participation in the decentralized web.

De-factionalized and Cross-Chain Compatibility

Unlike domains tied to specific blockchain ecosystems, the .did domain is neutral and de-factionalized, ensuring compatibility across various blockchain platforms. This approach fosters inclusivity and prevents the fragmentation seen with domains like .eth and .bnb, which are confined to their respective chains.

Fair Distribution Scheme

To prevent exploitation by click farmers and ensure fair access, KEY3.id has implemented a strict one-address-one-domain policy during the Early Bird phase. This measure helps distribute premium domains equitably and supports genuine community members. Additionally, KEY3.id reserves some premium short domains for auction, with proceeds funding future project developments.

Strategic Partnerships and Ecosystem Integration

KEY3.id has formed strategic partnerships with several leading wallets and platforms, including BitKeep Wallet, iToken Wallet, Bybit, KuCoin Wallet, Coinhub Wallet, ONTO Wallet, Assure Wallet, and Element.market. These partnerships extend the reach and functionality of the .did domain, integrating it with a wide range of decentralized finance (DeFi) platforms, exchanges, DAO organizations, and NFT communities.

Community Growth and Participation

Since its launch, KEY3.id has seen rapid community growth, with over 60,000 members joining within the first week. This enthusiastic participation underscores the strong demand for innovative and accessible DID solutions in the Web3 space. The active engagement of the community is crucial for the ongoing success and development of the project.

CEO Insights and Future Plans

Kory Pak, CEO of KEY3.id, emphasized the project’s commitment to providing a low-barrier, permanently free DID ownership experience. Despite launching during a challenging bear market, the overwhelming response to the Early Bird event has instilled confidence in the team’s vision. Pak highlighted that free does not equate to a lack of a business model; KEY3.id plans to generate revenue through the auction of reserved premium domains.

Upcoming Public Claim

Following the successful Early Bird event, KEY3.id is set to launch its official public mint on November 18th at 20:00 (UTC+8). This event is expected to further democratize access to DID ownership and mark a historic moment for the industry.

Conclusion

The launch of KEY3.id’s Early Bird event and the introduction of the .did domain represent significant advancements in the decentralized identity space. By offering a permanently free, inclusive, and cross-chain compatible domain, KEY3.id is poised to transform the digital identity landscape. The project’s fair distribution scheme, strategic partnerships, and active community engagement lay a strong foundation for its continued growth and success.

As KEY3.id prepares for its public claim event, the decentralized identity sector is watching closely. The innovations introduced by KEY3.id could set new standards for DID projects, driving broader adoption and enhancing the overall user experience in the Web3 ecosystem.