district0x DNTPrice $ 0.00891

District0x is a blockchain-based decentralized network that comprises marketplaces and communities known as “districts”. The districts run on top of Ethereum smart contracts and d0xINFRA, frontend libraries for the platform. It hopes to address the issues and complications within distributed communities and marketplaces. It does this by offering tools for network participants to engage in better and more aligned decision-making.

The platform’s native cryptocurrency is the District Network Token, or DNT. It is an ERC-20 standard token and was created with the intention of being used for network participation, coordination in district0x Network development, and network governance.

What are district0x’s key features and how does it work?

The platform uses a unique opensource framework, d0xINFRA, that is made up of Ethereum smart contracts and front-end libraries. Developers can use this framework in order to create and launch their own districts. Each district is managed via a governance layer that is part of the Aragon network. Also, each district can adopt a completely unique form, that is they can have different functionalities, use cases, and different user interfaces too. For example, districts can be created that include search and filtering functions, reputation ranking can be assigned to users, or allowing payments, and more.

What can DNT be used for?

DNT is also used in the platform’s staking mechanism. Users can deposit DNT into any district’s associated Aragon entity, and are then entitled to voting rights for that specific Aragon entity. Voting rights are distributed in the form of tokens that can be used to propose and vote on any decisions put forward about the district. This could include branding and design decisions, any functionalities, as well as module parameters.

Worth noting is that, unlike many other “proof-of-stake” blockchains which incorporate a rewards-based staking scheme, the district0x platform does not directly distribute rewards when staking DNT. Incentive structures, instead, are decided upon by governance participants of specific districts.

Where can you buy DNT?

DNT is available for trading on the following CEXs and DEXs listed here. The most popular platforms with the highest liquidity are Binance, Upbit, and CoinBase Pro. The price of DNT will vary depending on the choice of exchange and overall market conditions. For up-to-date and historic data for DNT market price, please view the price charts on this page.