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district0x

district0x (DNT) (Founded in 2017) is a collective of decentralized marketplaces and communities known as ‘Districts’. Districts exist on top of a modular framework of Ethereum smart contracts and front-end libraries referred to as d0xINFRA.[1]

Overview

DNT is a cryptocurrency. It was first announced on July 8, 2017, and the development team is located in San Francisco. As of December 28th, 2017, the circulating supply was 600,000,000 DNT.[3]

The district0x Network is a collective of decentralized and autonomous marketplaces and communities, also known as districts. These districts are built upon a decentralized and distributed open-source framework, the d0xINFRA network, which is powered by Ethereum smart contracts.[1]

The district0x Network aims at creating a friction-free, virtual economy where the users will be able to make buying and selling decisions, complete transactions, and even rank their peers with just one simple click.

Also, District0x is a network of markets and communities that exist as decentralized autonomous organizations. All internet citizens will be able to deploy districts to the network free of charge, forever. At the core of every district is the d0xINFRA (a standard open-source framework comprised of Ethereum smart contracts and front-end libraries) framework, a stack of Ethereum smart contracts, and front-end libraries distributed on IPFS which power a district's basic functionalities.[2]

District0x infrastructure

The District0x infrastructure has a very neat concept with some well-outlined features, such as the staking interface. A staking interface is put in place that allows DNT holders to have open control over the districts through an Aragon governance layer for all markets that come online.[1]

District0x differs from most coins in its underlying concept and the architecture it is built on. The concept of interconnected districts and marketplaces promises a novel structure to modern economies.[1]

$DNT Token

The district0x Network Token is a multi-utility ERC20 token providing holders with both network-wide governance utility and a means of gaining access to district-specific voting rights.

The district0x token (DNT), much like Aragon, could be classed as a governance token. Staking DNT tokens in a district confers upon the participant voting powers, the weight of which are proportionate to the amount staked in relation to the total (a user staking 300 tokens out of a total of 1000 would, therefore, have 30% of the voting power).[4]

DNT is not a currency in itself — the platform plans 0x protocol integration to remain agnostic on the monetary front). DNT tokens can be staked in districts, thus they not only give voting power and privileges within that district but also provide district-specific tokens depending on when the investor had started trading.DNT can basically be considered as a dynamic stock in the future district0x ecosystem.[2]

Network Governance Utility

The district0x Network Token is used for interaction with the District Registry and to govern various aspects of the district0x Network at large. Currently, district0x Network Token holders can utilize their DNT to signal for which districts they would like the district0x team to build and deploy next to the district0x Network.[3]

District-Specific Governance Utility

The district0x Network Token can be staked to deposit pools to mint tokens providing district-specific voting rights in corresponding Aragon entities. These voting rights allow holders to directly participate in the governance of districts on the network. [1]

DNT staking mechanism

A refundable deposit of DNT can be deposited to a district’s corresponding Aragon entity. By doing so, an individual is granted voting rights in the form of tokens that can only be used within that specific Aragon entity.

An individual can then use those tokens to propose and vote on anything ranging from a district’s branding and design decisions, to what functionality is added via auxiliary modules, to the appropriate settings for any adjustable parameters of these modules, to the means by which any revenue collected by a district is to be distributed, and beyond.[1]

Unlike “proof of stake” and other reward-based staking schemes, DNT does not provide a direct reward when staking your DNT to a district. These types of incentive structures would be up to governance participants proposing and voting for changes within an individual district’s Aragon entity[1]

Token Distribution

The district0x Genesis Contract minted 1,000,000,000 district0x Network Tokens. The district0x Genesis Contract has allocated the minted district0x Network Tokens as follows:

  • 600,000,000 = Distributed to participants in Contribution Period v0.1
  • 140,000,000 = Reserved for potential Contribution Period v0.2
  • 40,000,000 = Reserved for potential Contribution Period v0.3
  • 200,000,000 = Distributed to Founders (vest over the course of 2 years)
  • 15,000,000 = Distributed to Advisors (vest over the course of 2 years)
  • 5,000,000 = Distributed to Early Contributors (vest over the course of 6 months)

District0x Team

  • Matus Lestan
    • Co-founder - Tech Lead
  • Joe Urgo
    • Co-founder - Strategy and Operations Lead
  • Alexander Khoriaty - Project Manager
  • Mike Konkov - Clojurescript Developer
  • Filip Bielejec - Clojurescript Developer
  • P.J. Leimgruber - Marketing Lead
  • Brady McKenna - Community Manager
  • Farhan Shaikh - Community Manager

Advisors

  • Luis Cuende - Co-founder at Aragon
  • Carl Bennett - Co-founder at Status
  • Brayton Williams - Co-founder at Boost VC
  • Vincent Zhou - Founder at FBG Capital
  • Manmeet Singh - Co-founder at Blockseed Ventures
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district0x

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October 11, 2022

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New Wiki Created 🎉

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