What Is District0x Network (DNT)?

District0x network, as described in its whitepaper, is a network of decentralized marketplaces and communities. The project provides developers with an open-source blockchain foundation to create their own districts. As per the official website, districts are the decentralized applications (DApps) and entities that exist on the district0x network. In simple terms, district0x aims to establish a community of marketplaces and organizations independent from centralization.

Today many start-ups have disintermediated many marketplaces. For instance, Uber has made disruptions in the transportation sector, and Airbnb has disintermediated the lodging sector. Even though users enjoy these services, they don’t have a say in the control of the platforms. Users cannot participate in the value creation and thus these are centrally controlled platforms. District0x aims to decentralize and disintermediate the marketplaces and communities. Powered by Ethereum, Aragon, and IPFS, the platform intends to recreate many of the popular applications and services while eliminating the centralized economic model.

Running on Ethereum, the network offers core functionalities to design, create, and operate new districts. Powered by decentralized Web3, district0x provides creators with the liberty to build new DApps on the network. Each district is unique and is completely customizable. There are a host of districts already running on the platform, like Ethlance, Name Bazaar, Meme Factory, and more.

Talking about the token, DNT is the native token of the platform. The token is an ERC20 standard token and serves as the platform’s cryptocurrency. The token is primarily utilized as a governance token of the platform. This essentially means the holders of the token are granted voting rights on the functionality, operation, design, and branding of the platform. The token holders themselves decide what’s good or bad for the network.

History of District0x (DNT)

Launched in 2017, district0x was cofounded by Joseph Urgo and Matus Lestan.

Joseph Urgo is a seasoned operations manager and has formerly worked at Coinbase, the leading cryptocurrency exchange.

Matus Lestan, the lead developer at dsitrict0x, is a programmer and developer of mobile applications.

During its ICO in July 2017, the project managed to raise $9 million. Shortly after that, the platform launched its whitepaper v0.3 on September 14, 2017.

How Are DNT Tokens Earned?

District0x uses a special application known as District Registry for staking purposes. As per the website, the District Registry is essentially an incentivized voting game that is used by holders of the tokens to support or disapprove the proposals made by network participants. 

Users can stake their tokens into the pools. By doing this, users are granted voting rights.  Each vote is proportional to the staked DNT. By participating in voting, users are rewarded and incentivized for the governance of the platform.

How Many DNT Tokens Are There?

DNT has a maximum total supply of one billion tokens.

How to Purchase DNT Tokens

DNT can be easily purchased on Coinbase. It's secure, safe, and easy.