Solana-based prediction market Space launches its SPACE token sale with variable pricing, leveraged CLOB trading, buyback-and-burn tokenomics, and tiered rewards.
Summary
- Space is a Solana prediction market that offers up to 10x leveraged trading in crypto, politics, sports, technology and culture via a central limit order book with no fees.
- The public sale uses a market-clearing pricing model, buyback-and-burn of 50% of protocol revenues, and tiered contributions that enable airdrops, rate discounts, and lifetime perks.
- Built by the team behind UFO, Space has raised seed and strategic funding led by Morningstar Ventures and Arctic Digital, with oversubscribed support from Echo and Curated by Impossible Finance.
Space, a leveraged market platform built on the Solana blockchain, announced on Tuesday the public sale of its native token, SPACE, scheduled to begin on December 17 at 6:00 PM UTC.
The platform allows users to make predictions on real-world outcomes in cryptocurrency, politics, sports, technology and culture with up to 10x leverage, according to the company’s announcement.
Space operates on a tokenomics model that allocates half of platform revenue to token buyback and burning mechanisms, while the remaining half goes to the protocol’s coffers, the company said. The total token supply is set at 1 billion SPACE tokens.
The platform was developed by the team behind UFO, a cryptocurrency project that achieved significant market capitalization in 2021, according to the announcement.
Solana and Space market offerings
Space’s technical features include a central limit order book with no maker fees, up to 10x leverage on predictions, gamified points and ranking systems with seasonal airdrops, and liquidity and referral rewards, the company reported.
The project secured seed and strategic financing led by Morningstar Ventures and Arctic Digital, with additional participation from Echo and Curated by Impossible Finance, the announcement said. The Echo round was reportedly oversubscribed.
The public sale will use a variable token distribution model, where tokens are distributed based on a final market clearing price to ensure that all participants receive identical prices, the company said. Sales begin at a floor valuation and remain at that level until an initial target is reached. After this threshold, sales come in the form of price discovery, where the fully diluted valuation increases linearly up to a predetermined ceiling.
According to the announcement, all participants will pay the same clearing price at the end of the sale. If demand exceeds the available tokens at the final price, the company stated that it will manage the allocations and refund excess contributions.
The sale includes a tiered participation structure based on timing, with prior commitments escalating. Higher tiers offer a higher chance of being assigned and unlock bonus airdrops, lifetime platform benefits and perks, the company reported. Tier benefits include bonus token airdrops, point multipliers, lifetime referral multipliers on trading fees, and a 12-month discount on trading fees.
A minimum contribution is required to unlock tier rewards, but according to the announcement, there is no minimum required to participate in the Basic Sale. User contributions are cumulative, but for level achievements the minimum must be met during the level’s 24-hour active period. Once secured, levels are permanently transferred to users’ Space profiles.
In cases of oversubscription, the company stated that it will manage the allocations to ensure fairness, with the redemption criteria made public after the sale is completed.
According to the announcement, refunds will be made immediately after the sale closes. The token generation event will take place after the public sale, with platform launch scheduled for January 2026.
Participation requires a self-custodial wallet, with Phantom recommended, and desktop access for an optimal experience, the company said. The announcement specified that users were not allowed to send contributions from centralized exchanges.
Space aims to address the liquidity issues common in prediction markets through the combination of central limit order book technology, leverage options and zero-maker fees, according to the company.
