district0x

district0x

DNT
$0.08650000
-15.61%
$0.08450000

24H Price

$0.11300000


About district0x

The district0x price is $0.08650000, a change of -15.61% over the past 24 hours as of 5:00 a.m. The recent price action in district0x left the tokens market capitalization at $64.98M. So far this year, district0x has a change of 186.37%. district0x is classified as a DeFi under CoinDesks Digital Asset Classification Standard (DACS).

DNT is the native cryptocurrency of District0x: a platform based on the Ethereum blockchain that provides tools for developers to create their own decentralized marketplaces and communities known as “districts.” Think of it as a platform for creating your own eBay, but instead of it being owned and operated by a single company, all marketplaces that are created run completely autonomously.

That is all possible thanks to Ethereum smart contracts – self-executing computer codes that automatically perform certain functions when predetermined conditions are met.

DNT price

DNT is an ERC-20 token that launched on Aug.1, 2017. Some 600 million DNT tokens were sold during an initial coin offering (ICO), securing 43,170 ether, which was worth about $9 million at the time. A further 400 million tokens were created and distributed among the project’s founders, early contributors and advisers.

The DNT price reached an all-time high of $0.51 in January 2018 and has outperformed larger cryptocurrencies such as bitcoin and ether over the past few years. As with most cryptocurrencies, though, DNT’s price is volatile and experiences choppy price action. In April 2021, DNT price came within one cent of breaking above its all-time high. However, heavy selling pressure at the critical level sent prices into free fall. Between May and October 2021, prices remained rangebound between $0.10 and $0.26.

How District0x works

In order to create a new district, users must submit an application to the District Registry. The application must include all associated materials for building a new marketplace, such as logo designs and URLs. Users then must select one of three bonding curves (a type of system that governs how staking works for that particular district). For example, creators might choose the “linear bonding curve” option, which benefits early stakers with higher voting power, or a “flat bonding curve,” which means stakers receive equal voting power regardless of when they join the district.

District0x community members have the ability to post listings, filter/search and make payments. Each district is managed by a governance layer provided by AragonDAO (a decentralized autonomous organization) built on the Ethereum blockchain.

Developers customize parameters of smart contracts and must stake DNT (deposit tokens into a smart contract) to receive DVT tokens (District0x voting tokens). Users then obtain proportional voting power in the district based on the number of DVT tokens they hold.

Key events and management

District0x was founded in January 2017 by Joe Urgo, an American operations manager, and Matus Lestan, a Slovakian software developer.

In November 2020, crypto exchange Coinbase listed the token on its main platform and mobile apps (both Android and iOS). The announcement came two years after the token was originally listed on Coinbase’s Pro trading platform, and saw DNT prices surge 838% in four days.

Read less...
Sponsor LogoBuy crypto on a secure, trusted platform.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply. Don’t invest unless you’re prepared to lose all the money you invest.

Latest About district0x

Coin
DAO Marketplace District0x Raises $9 Million in Token Sale

A protocol for decentralized marketplaces raised $9 million in ether in an initial coin offering closed Tuesday.

Coin

Tim Beiko from the Ethereum Foundation, shares the Importance of the Dencun Upgrade, what are their concerns, and Ethereum's long-term scaling strategy. Read more...

CoinDesk Indices

View All
Top Indices including district0x
Logo
Index nameTickerWeight24H

Bitcoin Calculator

Last Updated on 03/19/24 5:00 AM

CoinDesk’s Bitcoin and Cryptocurrency Calculator determines the exchange rates between major fiat currencies and cryptocurrencies – including BTC, BCH, ETH and XRP to USD, EUR, GBP, IDR and NGN – with up to six decimal places of accuracy. Conversion rates are based on CoinDesk’s Bitcoin Price Index and the price indices of other digital assets. World currency prices are based on rates obtained via Open Exchange Rates.

Market Analysis
Social Analysis