$0.0360

District0x is a platform described as a network of decentralized markets and communities. It enables users to easily create their own decentralized platforms, each governed by a decentralized autonomous organization (DAO). These platforms, called districts, can be launched for free. The system is powered by the d0xINFRA framework, which offers basic smart contracts and libraries for building districts, supporting a variety of uses. DNT, the native token, is an ERC-20 utility token primarily used for governance. The platform integrates three key technologies: Ethereum for hosting districts, Aragon for governance, and IPFS for serving website code and user uploads.

District0x was founded in February 2017 by Joe Urgo and Matus Lestan. Joe Urgo, previously a professional poker player and derivatives trader, has extensive experience as an advisor in the cryptocurrency space and is also the founder and CEO of Sourcerers, a consulting firm specializing in tokenization and crowdsales. Matus Lestan is a programmer with nearly a decade of experience in web and mobile applications, currently serving as the lead developer at district0x. The rest of the team is largely not public-facing, but the wages transparency page indicated at least five additional contractors were working for the company in early 2021.

District0x aims to solve inefficiencies in creating and running distributed community marketplaces. It provides smart contracts and front-end libraries for developers to easily launch their own districts while offering a simple platform for community governance. Unlike some platforms that charge fees for launching applications, creating a district is free, though a refundable deposit is required to be listed on the District Registry. This accessibility has led to successful districts like Ethlance, a decentralized job market; Name Bazaar, a marketplace for ENS names; and Meme Factory, which helps create rare digital assets.

As of January 2021, at least 600 million DNT tokens were in circulation, which is 60% of the fixed maximum supply of 1 billion. All 600 million were distributed to participants in the 2017 initial coin offering (ICO), which raised $9 million. Additionally, 180 million DNT are held in reserve for potential future fundraisers, 22 million are reserved for advisors and community rewards, and the remaining 198 million are held by the founders, subject to a two-year vesting schedule. The 180 million reserved for fundraisers have not been released yet and may be burned later. Some team and reserve tokens might also be out of circulation.

DNT is an ERC-20 token, so its security relies on the Ethereum blockchain. As of January 2021, Ethereum uses a proof-of-work (PoW) consensus mechanism to protect against attacks. As Ethereum transitions to Ethereum 2.0, it will eventually use a proof-of-stake (PoS) network, which offers similar security with lower energy consumption.

DNT has good liquidity and is available on several popular exchanges, including Coinbase Pro, Binance, Bittrex, and Uniswap (a decentralized exchange). The most common trading pairs are DNT/USDC, DNT/USDT, DNT/BTC, and DNT/ETH. As of January 2021, there are no direct fiat trading pairs for DNT, but you can buy Bitcoin with fiat and then exchange it for DNT.