What is district0x (DNT)?

District0x is an innovative blockchain project, consisting of a network and a token, DNT. The DNT, or District0x Network Token, is an ERC-20 token on the Ethereum blockchain, primarily serving as a utility token within the district0x network.

The district0x Network itself is a decentralized platform enabling the creation and operation of "districts," which are essentially decentralized marketplaces or communities, on the Ethereum blockchain. The network harnesses Ethereum smart contracts and front-end libraries, allowing users to launch and manage decentralized applications (dApps) as various districts. One key feature of district0x is its focus on decentralized governance structures, giving DNT holders a voice in how the network and its individual districts evolve and operate.

What is district0x (DNT) Used For?

The principal use of DNT is to allow holders to participate in governance within the district0x network. This participation typically occurs through staking tokens, whereby users stake their DNT to gain voting rights in a district's decision-making processes, managed by an Aragon-powered decentralized autonomous organization (DAO). This staking mechanism places a significant role in determining the direction of a district's development, features, and operational guidelines.

Who created district0x (DNT)?

District0x was brought to life by co-founders Joe Urgo and Matus Lestan. Joe Urgo's background in cryptocurrency and trading, combined with Matus Lestan's expertise in software development, helped shape the vision and execution of the district0x project.