Space has announced the public sale of its native $SPACE token, according to a statement released on Tuesday.
The Solana-based platform describes itself as the first 10x leverage prediction market focused on real-world outcomes.
Space allows users to trade predictions across crypto, politics, sports, technology and culture.
The company said users are rewarded financially for accurate predictions.
Space confirmed that 50 percent of platform revenue will be used to buy back and burn $SPACE tokens.
The token mechanism is designed to support long-term value through reduced circulating supply.
Space was built by the team behind UFO, a top 100 CoinMarketCap project in 2021.
UFO previously reached a market capitalisation exceeding $1.5 billion.
Its growth was driven by community participation rather than insider allocations. - said the team.
Space said the same community-first approach underpins its current launch.
The platform operates a central limit order book with zero percent maker fees.
Users can access up to 10x leverage on prediction markets.
Space said it offers gamified rewards including points, ranks and seasonal airdrops.
Additional incentives include liquidity rewards and referral-based benefits.
Space raised $3 million in seed and strategic funding.
The funding round was led by Morningstar Ventures and Arctic Digital.
The company also reported a 1,360 percent oversubscribed raise on Echo.
Space said it is now opening ownership to the wider community.
The public sale uses a variable token distribution model.
The sale begins at a $50 million fully diluted valuation.
Price discovery will increase linearly up to a $99 million valuation ceiling.
All participants will receive the same final clearing price.
Space said contributions will open following a countdown period.
Participation tiers will rotate every 24 hours.
Earlier participants gain access to higher tiers and enhanced perks.
Benefits include bonus airdrops and reduced trading fees.
Space said oversubscription will be managed through allocation controls.
Any excess contributions will be refunded after the sale concludes.
At the time of reporting, Solana price was $123.61.