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About district0x (DNT)
This open-source infrastructure was developed to facilitate the creation of decentralized marketplaces and communities, called districts.
“Virtually any type of marketplace that exists today could be re-built as a district on the district0x network,” protocol documentation explained.
All districts maintain a set of core features, such as the ability to post products/services for sale, receive payments and invoice customers. The base infrastructure that supports individual districts is d0xINFRA. It’s comprised of a series of Ethereum-based smart contracts and front-end libraries providing basic functionality. Each district exists as a combination of d0xINFRA contracts and project-specific contracts, Messari said.
District0x’s native digital asset, DNT, helps foster governance. The protocol’s district creation platform serves as the permission-less means through which developers build new marketplaces. Before launch, developers are required to deposit a sum of DNT along with any relevant links, logos, URLs, and choose a bonding curve determining how voting rights will be allocated. All new districts are added to a district registry.
Individual districts and the broader District0x network are managed via governance layers provided by the Aragon Network, CoinGecko explained. District/network members stake their DNT to receive DVT voting tokens giving them a say on future decisions.
How is the price of DNT determined?
According to Messari, district0x created 1 billion DNT through their genesis contract. Some 60% of these tokens were released via an ICO in June of 2017. An additional 20% of the token’s supply was distributed to the firm’s founders over a two-year vesting schedule. As of early June 2022, there were roughly 750 million DNT in circulation, CoinGecko said.
The token’s future prospects will depend on demand for the protocol and its network of marketplaces.
Why does DNT have value?
The network has an ability to provide a base infrastructure underpinning a global network of decentralized marketplaces. As these markets, or districts, expand, and when considering the limited the supply, the token’s value would seem to have a chance to grow in value commensurate with the growth of districts.
What are the main benefits of DNT?
- Most distributed marketplaces suffer from coordination issues and inefficiencies; district0x, Messari points out, facilitates the creation of decentralized network of marketplaces with the stated goal of addressing those types of nagging issues.
- Structurally, the districts are dually reinforced, built on top of both an open-source framework of Ethereum smart contracts, as well as on a set of front-end libraries collectively referred to as d0xINFRA.
- The platform features an ERC20 token, DNT, which can be used to access and govern specific communities.
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