Districts Project exist as decentralized autonomous organizations on the district0x Network. All districts will be built upon a normal open framework frame, d0xINFRA. Modeled after the Ethlance stack, the d0xINFRA frame is comprised of Ethereum intelligent contracts and front-end libraries.
To supply all net citizens with an opportunity to freely join and donate to some district, to align incentives across all of a district's participants, and also to implement coordinated decision-making mechanics to the district0x Network, they present the district0x Network Token.
What is the District0x Network Token?
The district0x Network Token (DNT) is a staking token, utilized by collectors to combine districts and participate in their governance. Upon staking district0x Network Tokens to a district, participants get an equal amount of voting rights in the district. Voting rights may be utilised to partake from the procedures that determine everything in a district's specialization, to its accepted code of behavior, to the auxiliary modules which are integrated, to how fees collected by revenue-generating auxiliary modules are utilized.
How advanced is the project?
The initial district, Ethlance, was launched on the Ethereum MainNet on January 2017. Ethlance is a freelance job marketplace where freelancers can make Ether as compensation for their work.
DNT is a staking token, used by holders to combine districts and participate in their own governance. Basically, you turn into a “shareholder” of the district should you bet your DNT within it.
Once you stake your DNT in a district, you get voting shares in that district's Aragon entity, which can be utilised to determine everything from a district's branding and layout, to the way in which they decide to try to monetize, to how any revenue produced is distributed or utilized.
Hence, token holders may share the profits created by the districts that they have stake in.
There are two methods to make money from holding DNT — from more usage of those districts generally (even if they're the districts that you did not bet) and from the profit generated from the districts which you staked your DNTs in.
Another way to think of token value is that DNT market cap has to be higher than the sum of all the districts' worth. Some districts will fail, others are going to succeed. The failed ones have a value of zero, but the successful ones could possibly be quite valuable.
District0x was a bootstrapped project created by its two co-founders. The team is employing 2 roles now — a project manager and a ClojureScript developer.
Matus Lestan, Co-Founder, Lead Developer — lifelong developer with a strong enthusiasm for decentralization. Previously a freelance developer for 8 years, Matus is now known for pushing the Clojure-Ethereum ecosystem ahead via many open source gifts.
Previously Joe worked as an Operations Manager at Coinbase, a Derivatives Trader at Three Arrows Capital, along with also a Professional Poker Player.
Already have a working district since January 2017 — it is among the more advanced ICO projects on the market. This lends a lot of credibility compared to the majority of ICOs as it shows that the job is run by capable men and women.
There are two ways to make money from DNT — out of appreciation from DNT or from staking the right district. Should you bet a district which is quite profitable, the potential gain sharing could be significant.
There's potential for district0x to develop into the go-to place for creating DAOs. A great deal of districts can be created, as long as they utilize any of these purposes: listings and posting, search and filtering, standing and standing, and obligations and invoicing. This is very good for the Ethereum ecosystem.
It's unclear how much simpler it is to create DAOs on the district0x platform. If the cost and time savings aren't important, then there may not be numerous districts to be created on the district0x platform.