Fundamentals:
Billed as a "network of decentralized markets and communities," district0x is a platform that allows users to easily launch their own decentralized platforms which are governed by a decentralized autonomous organization (DAO) structure.
Each of these platforms is termed a “district” and can be launched free of charge on the district0x. The ecosystem is powered by the custom d0xINFRA framework, which provides a set of basic smart contracts and libraries users can use when building out their districts — enabling a wide array of potential use-cases.
The native token of the district0x ecosystem is DNT — an ERC-20 utility token that is mostly used for community governance.
The platform uses a combination of three main technologies: Ethereum, Aragon and the InterPlanetary File Transfer Protocol (IPFS).
The Ethereum blockchain is used for hosting districts, whereas Aragon is used as the governance layer for the district0x network, allowing DNT stakers to benefit from governance rights and help shape the development and operation of their chosen districts. Lastly, IPFS is used for serving the district0x website source code and for user uploads within districts.
District0x is built to tackle some of the inefficiencies that come with creating and operating distributed community marketplaces.
It does this by providing a wide range of smart contracts and front-end libraries that developers can use to easily launch their own districts, while providing a simple platform for community governance.
Unlike some other platforms which charge a fee for launching new applications, developers can create a district for free — though a refundable deposit will need to be paid to be added to the District Registry. This easy access platform has already given rise to a range of successful districts, each of which have varying forms and functions.
Some of the most popular districts include decentralized job market Ethlance, peer-to-peer ENS names marketplace Name Bazaar and Meme Factory — a district that provides a simple interface for the creation of rare digital assets.
DNT is an ERC-20 token. As such, it is secured by the underlying Ethereum blockchain. As of January 2021, this uses a proof-of-work (PoW) consensus mechanism to ensure the network is secured against attacks.
As Ethereum transitions to Ethereum 2.0, it will eventually be secured using a proof-of-stake (PoS) network instead — offering similar levels of protection against attacks at a lower energy cost.
District0x was founded in February 2017 by Joe Urgo and Matus Lestan.
Joe Urgo is a former professional poker player turned derivatives trader with an extensive history working as an advisor in the cryptocurrency space. He is also the founder and CEO of Sourcerers — a consulting firm specializing in tokenization and crowdsale services.
Matus Lestan is a programmer and developer with close to a decade worth of experience working with web and mobile applications. He currently holds the position of lead developer at district0x.
Besides the co-founders, much of the district0x team is not public facing. However, the district0x wages transparency page indicates that there were at least five additional contractors working for the firm in early 2021.
As of January 2021, at least 600 million DNT tokens were in circulation, representing 60% of the fixed maximum supply of 1 billion DNT.
All 600 million DNT were distributed to participants of the 2017 initial coin offering (ICO), in which district0x raised a total of $9 million. Beyond this, 180 million DNT are held in reserve for possible future fundraisers, 22 million DNT are reserved for advisors and community rewards, and the remaining 198 million DNT is held by the district0x founders—and subject to a two-year vesting schedule.
Of this, the 180 million DNT reserved for fundraisers remains to be released. The district0x team have indicated this may be burned at a later date. An undisclosed sum of team and other reserved tokens may also be out of circulation.
The live district0x price today is $0.282954 USD with a 24-hour trading volume of $15,915,288 USD. district0x is down 4.14% in the last 24 hours. The current CoinMarketCap ranking is #291, with a live market cap of $169,772,380 USD. It has a circulating supply of 600,000,000 DNT coins and the max. supply is not available.
Technical Analysis:
The Token has done its Initialization and Accumulation Phase, and had its 2 Bullish cycles, where it has Triggered the 161.8 Extension level of the its First cycles Fibonacci Projection, which means the 2TP, which is the 261.8% level of the same Fibonacci Projection Confirmed.
There exist a Hidden Bullish Divergence of Price and MACD which is the Sign of Bullish Trend Continuation...
There are total of 3 Targets defined By Initial Bullish cycle's Fibonacci Projection.
There are Total of 3 Support areas defined by Fibonacci Retracements.
Billed as a "network of decentralized markets and communities," district0x is a platform that allows users to easily launch their own decentralized platforms which are governed by a decentralized autonomous organization (DAO) structure.
Each of these platforms is termed a “district” and can be launched free of charge on the district0x. The ecosystem is powered by the custom d0xINFRA framework, which provides a set of basic smart contracts and libraries users can use when building out their districts — enabling a wide array of potential use-cases.
The native token of the district0x ecosystem is DNT — an ERC-20 utility token that is mostly used for community governance.
The platform uses a combination of three main technologies: Ethereum, Aragon and the InterPlanetary File Transfer Protocol (IPFS).
The Ethereum blockchain is used for hosting districts, whereas Aragon is used as the governance layer for the district0x network, allowing DNT stakers to benefit from governance rights and help shape the development and operation of their chosen districts. Lastly, IPFS is used for serving the district0x website source code and for user uploads within districts.
District0x is built to tackle some of the inefficiencies that come with creating and operating distributed community marketplaces.
It does this by providing a wide range of smart contracts and front-end libraries that developers can use to easily launch their own districts, while providing a simple platform for community governance.
Unlike some other platforms which charge a fee for launching new applications, developers can create a district for free — though a refundable deposit will need to be paid to be added to the District Registry. This easy access platform has already given rise to a range of successful districts, each of which have varying forms and functions.
Some of the most popular districts include decentralized job market Ethlance, peer-to-peer ENS names marketplace Name Bazaar and Meme Factory — a district that provides a simple interface for the creation of rare digital assets.
DNT is an ERC-20 token. As such, it is secured by the underlying Ethereum blockchain. As of January 2021, this uses a proof-of-work (PoW) consensus mechanism to ensure the network is secured against attacks.
As Ethereum transitions to Ethereum 2.0, it will eventually be secured using a proof-of-stake (PoS) network instead — offering similar levels of protection against attacks at a lower energy cost.
District0x was founded in February 2017 by Joe Urgo and Matus Lestan.
Joe Urgo is a former professional poker player turned derivatives trader with an extensive history working as an advisor in the cryptocurrency space. He is also the founder and CEO of Sourcerers — a consulting firm specializing in tokenization and crowdsale services.
Matus Lestan is a programmer and developer with close to a decade worth of experience working with web and mobile applications. He currently holds the position of lead developer at district0x.
Besides the co-founders, much of the district0x team is not public facing. However, the district0x wages transparency page indicates that there were at least five additional contractors working for the firm in early 2021.
As of January 2021, at least 600 million DNT tokens were in circulation, representing 60% of the fixed maximum supply of 1 billion DNT.
All 600 million DNT were distributed to participants of the 2017 initial coin offering (ICO), in which district0x raised a total of $9 million. Beyond this, 180 million DNT are held in reserve for possible future fundraisers, 22 million DNT are reserved for advisors and community rewards, and the remaining 198 million DNT is held by the district0x founders—and subject to a two-year vesting schedule.
Of this, the 180 million DNT reserved for fundraisers remains to be released. The district0x team have indicated this may be burned at a later date. An undisclosed sum of team and other reserved tokens may also be out of circulation.
The live district0x price today is $0.282954 USD with a 24-hour trading volume of $15,915,288 USD. district0x is down 4.14% in the last 24 hours. The current CoinMarketCap ranking is #291, with a live market cap of $169,772,380 USD. It has a circulating supply of 600,000,000 DNT coins and the max. supply is not available.
Technical Analysis:
The Token has done its Initialization and Accumulation Phase, and had its 2 Bullish cycles, where it has Triggered the 161.8 Extension level of the its First cycles Fibonacci Projection, which means the 2TP, which is the 261.8% level of the same Fibonacci Projection Confirmed.
There exist a Hidden Bullish Divergence of Price and MACD which is the Sign of Bullish Trend Continuation...
There are total of 3 Targets defined By Initial Bullish cycle's Fibonacci Projection.
There are Total of 3 Support areas defined by Fibonacci Retracements.
Trade active:
Rebuying more at 0.1 USD