SPACE ID announced on the X platform that a proposal to reduce the renewal fees for 3/4 character domain names and compensate ID holders has been approved. The proposal includes three main points:1. Reduce the renewal fees for .bnb and .arb 3/4 character domain names by $5/year;2. Compensate domain name holders who previously paid a higher price through ID airdrops to make up for the registration fees;3. For ID allocation (expected to be implemented in the first quarter of 2024), a snapshot will be taken at 8:00 am UTC on January 31 to finally determine the addresses of eligible domain name holders.