The concept of a Space in Clay is very useful, but the standard edit experience provided by Kiln makes working with the content of a Space very cumbersome. That's where this component comes in. Clay Space Edit taps into the plugin system provided by Kiln to create a custom experience for working with a Space, but requires a precise API for you to use in your own projects.
All the information you need for setting up a Space can be found in the wiki of this repository. If you're unfamiliar with everything that goes into making your own Space, you might want to step through the Introduction. If you're already familiar with the core concepts then skip straight to the API Reference.