Article Summary, Automatically Generated By AI
Summary of District0x (DNT)
Overview
- District0x is a platform for launching decentralized markets and communities.
- It uses a DAO structure and is powered by the d0xINFRA framework.
- The native token is DNT, an ERC-20 utility token used for community governance.
Founders
- Founded in February 2017 by Joe Urgo and Matus Lestan.
- Joe Urgo: former professional poker player and derivatives trader.
- Matus Lestan: programmer and developer with experience in web and mobile applications.
Uniqueness
About District0x
Introducing District0x (DNT): A Decentralized Ecosystem
District0x is touted as a “network of decentralized markets and communities,” a pioneering platform that empowers users to effortlessly launch their own decentralized platforms, governed by a decentralized autonomous organization (DAO) structure, thereby fostering a new era of community-driven innovation.
Each of these platforms is denoted as a “district” and can be launched at no cost on the district0x. The ecosystem is fueled by the bespoke d0xINFRA framework, which furnishes a suite of fundamental smart contracts and libraries that users can leverage when building out their districts, thereby facilitating a diverse range of potential use cases.
The native token of the district0x ecosystem is DNT, an ERC-20 utility token primarily utilized for community governance purposes.
The platform leverages a triumvirate of cutting-edge technologies: Ethereum, Aragon, and the InterPlanetary File Transfer Protocol (IPFS), thereby fostering a robust and decentralized infrastructure.
The Ethereum blockchain serves as the foundation for hosting districts, while Aragon assumes the role of governance layer for the district0x network, thereby empowering DNT stakers to exercise governance rights and contribute to the development and operation of their preferred districts. Furthermore, IPFS is leveraged for serving the district0x website source code and facilitating user uploads within districts.
The Visionaries Behind District0x: Meet the Founders
Founded in February 2017 by visionary entrepreneurs Joe Urgo and Matus Lestan, District0x has been at the forefront of innovation since its inception.
Joe Urgo, a seasoned professional with a background in poker and derivatives trading, boasts an impressive track record as an advisor in the cryptocurrency realm. Notably, he is the founder and CEO of Sourcerers, a consulting firm that specializes in tokenization and crowdsale services, providing expert guidance to clients navigating the complex landscape of digital assets.
Matus Lestan is a seasoned programmer and developer, boasting nearly a decade of expertise in crafting innovative web and mobile applications. Presently, he occupies the esteemed position of lead developer at district0x.
Beyond the co-founders, a significant portion of the district0x team remains anonymous.
However, a perusal of the district0x wages transparency page reveals that at least five additional contractors were engaged by the firm as of early 2021.
Unveiling the Unparalleled District0x: A Trailblazer in the Decentralized Realm
District0x is specifically designed to address the inefficiencies inherent in creating and operating decentralized community marketplaces.
By furnishing a diverse array of smart contracts and front-end libraries, it empowers developers to effortlessly launch their own districts, while providing a streamlined platform for community governance.
Unlike certain platforms that impose a fee for launching new applications, our platform offers a more accessible approach, allowing developers to create a district free of charge. However, a refundable deposit is required to be listed in the District Registry. This open-door policy has already given birth to a diverse range of thriving districts, each boasting unique forms and functions.
Notable districts include Ethlance, a decentralized job market, as well as Name Bazaar, a peer-to-peer marketplace for ENS names. Additionally, Meme Factory stands out, offering a user-friendly interface for crafting unique digital assets.
What Is the Circulating Supply of district0x (DNT) Coins?
As of January 2021, a substantial 600 million DNT tokens were in circulation, accounting for a significant 60% of the fixed maximum supply of 1 billion DNT.
In the 2017 initial coin offering (ICO), district0x raised a total of $9 million, distributing all 600 million DNT to participants. Furthermore, 180 million DNT are set aside in reserve for potential future fundraising endeavors, while 22 million DNT are allocated for advisors and community rewards. The remaining 198 million DNT are held by the district0x founders, subject to a two-year vesting schedule.
Notably, the 180 million DNT allocated for fundraising purposes remains unreleased. The district0x team has hinted that this amount may be burned in the future. Furthermore, an unspecified quantity of team and reserved tokens may also be currently out of circulation.
The Security Framework of the district0x Network
DNT is an ERC-20 token, which means it is underpinned by the robust security of the Ethereum blockchain. As of January 2021, this blockchain employs a proof-of-work (PoW) consensus mechanism, thereby safeguarding the network against potential attacks and ensuring its integrity.
As Ethereum undergoes its transformative evolution to Ethereum 2.0, it will ultimately be safeguarded by a proof-of-stake (PoS) network, thereby providing comparable levels of security against potential attacks while significantly reducing energy expenditure.
Acquiring District0x (DNT): A Comprehensive Guide to Exchanges and Marketplaces
The DNT token presently enjoys exceptional liquidity and is readily accessible for trading on a multitude of prominent exchange platforms, including;
- Coinbase Pro, a stalwart in the cryptocurrency exchange landscape
- Binance, a behemoth in the digital asset trading sphere
- Bittrex, a stalwart in the cryptocurrency exchange arena
- Uniswap, a pioneering decentralized exchange (DEX) in the Ethereum ecosystem
Among the most sought-after trading pairs for DNT are DNT/USDC, DNT/USDT, DNT/BTC, and DNT/ETH. As of January 2021, direct fiat trading pairs for DNT are nonexistent. However, an alternative approach is to purchase Bitcoin (BTC) with fiat currency and subsequently exchange it for DNT.
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