SPACE ID Secures Its Treasury Using Ceffu’s Third-Party Escrow Service
We’re excited to announce our collaboration with SPACE ID, a universal name service network with a one-stop identity platform to discover, register, trade, manage web3 domains, to safeguard its treasury through Ceffu’s independent third-party escrow service. As part of this escrow agreement, most of SPACE ID's native governance tokens ($ID) are kept secure in its enterprise-grade cold wallet on Ceffu and progressively distributed to its community over a 70-month-long schedule, effective March 2023.
The support we got from the Ceffu team to facilitate the escrow agreement and keep our tokens secure has been instrumental to our official launch. It’s really important for us to assure all SPADE ID stakeholders, including our community, that we have the proper maintenance and release controls in place for our token distribution. Collaborating with Ceffu provides this assurance with excellence.” – SPACE ID
Our escrow service supports the early stage of young crypto projects by providing a secure platform to execute bespoke transaction terms and ensure their token distribution can be processed with ease and peace of mind.
Projects securing their tokens in escrow benefit from the on-chain nature of our cold storage solution, Qualified Wallet, which provides full visibility that their wallet contains only their own assets and that movements going in and out of their wallet are their own. Qualified Wallets run on multi-party computation (MPC) technology to further secure their assets, and are covered by insurance and disaster recovery plans.
It’s always exciting for us to work with promising crypto projects by providing the most secure environment to help them grow. The value proposition for SPADE ID and what they bring to the Web3 ecosystem is truly innovative, and we’re thrilled to be able to support their mission with a foundational layer of institutional-grade security. ” – Athena Yu, VP of Ceffu
Secure your crypto assets today
As the crypto market gradually recovers from its recent downturn, we are seeing rapidly rising interest from projects looking for a third-party escrow partner to secure their transactions through our escrow service. If your project is in such need, please contact our team here for more details.
About SPACE ID
SPACE ID is building a universal name service network with a one-stop identity platform to discover, register, trade, manage web3 domains. It also includes a Web3 Name SDK & API for developers across blockchains and provides a multi-chain name service for everyone to easily build and create a web3 identity.
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Ceffu is a compliant, institutional-grade custody platform offering custody and liquidity solutions that are ISO 27001 & 27701 certified and SOC Type 1 & Type 2 attested. Its multi-party computation (MPC) technology, combined with a customizable multi-approval scheme, provides bespoke solutions allowing institutional clients to safely store and manage their digital assets through its insured, segregated cold storage solution, Qualified Wallet. Institutions also benefit from Ceffu’s secure gateway to a wide range of liquidity products within the Binance ecosystem as Binance’s institutional custody partner.
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