Down the Rabbit Hole: An in-Depth Exposé of district0x (DNT), Part 1
Watch out world! In this revealing exposé, your favorite crypto-reporter goes down the rabbit hole in a three part series to uncover the truth behind the products, concepts and designs that comprise one of the most dynamic platforms for the creation of autonomous dapps. So sit back and strap in as I guide this rocketship through the vast space comprising district0x (DNT) and their amazing token curated registry.
In Part 1, we take a cursory glance at district0x (DNT) and their position in the broader market.
district0x (DNT) is a network of decentralized markets and communities powered by Ethereum, Aragon and IPFS.
Entering into the district0x community for the first time is a bit like opening the door to Dr. Who’s telephone booth. The depth of the disrict0x platform is daunting and the governance of the individual districts complex. From staking DNT to collecting and curating online content, participation in district0x as an active internet citizen may require some guidance, and patience.
However the reward of a decentralized system of open-source governance is definitely worth the effort. And as a growing number of crypto-enthusiasts have recently found, the fun of interacting with this token curated registry (TCR) outweighs any initial learning curve.
But What Exactly is district0x (DNT)
Essentially, district0x (DNT) is a collection of decentralized communities and marketplaces dubbed, ‘districts’. Each district included in the district0x registry is a decentralized autonomous organization (DAO) powered by Ethereum and IPFS, using Aragon for governance.
While the simplicity of an online marketplace is intuitive enough for most to grasp, the complexity of the district0x system arises from its governance.
According to the team at district0x,
“To provide all internet citizens with an opportunity to freely join and contribute to any district, to align incentives across all of a district’s participants, and to implement coordinated decision-making mechanisms to the district0x Network, we introduce the district0x Network Token.
The district0x Network Token is a multi-utility token which is required for application to the district0x Network, utilized in an incentivized voting game to dictate access to a suite of ancillary services exclusive to network members, used to signal support or disapproval for proposals made by network participants, and which can be staked to deposit pools to mint tokens providing district-specific voting rights on third-party platforms such as Aragon.
Voting rights can be used to partake in the processes that determine everything from a district’s design and branding, to its functionality, to its accepted code of conduct, to the integrations it utilizes, and beyond.”
The district0x Registry is the Network Hub
Currently, the district0x Registry consists of three core districts: Ethlance, Name Bazaar and Meme factory. Each community marketplace exhibits the parent characteristics of the platform, but are as unique as night is to day.
🎉 We're happy to announce that the initial release of the District Registry is live!
DNT staking is now possible!
Check out the latest blog post for details: https://t.co/yuz6CvbppS
— district0x (@district0x) February 6, 2020
Using an open set of standards and criteria, anyone can create a self governed autonomous organization on the district0x platform. With time, the team at district0x envisions a set of tools to allow non-technical users to build communities on the platform as easily as their more technologically advanced counterparts.
Brief Market Analysis of district0x (DNT)
The coin and company, district0x (DNT), are ranked number 604 on coinmarketcap.com with a total capitalization of US $2,190,738. DNT boasts a volume of US $53,820.49 over the past 24 hours. Currently there are 600,000,000 tokens circulating out of a total supply of 1,000,000,000.
Up nearly 4.15% on the day, district0x (DNT) has outperformed the market as the world’s self isolating masses entrench themselves ever deeper into their own technological rabbit holes. Currently trading at US $0.003651, district0x (DNT) had been caught in a narrow range all week. This move to the upside may signal an entry point to the savvy traders among us.
Down the Rabbit Hole
Attempting to grasp all of the core concepts of the platform can become overwhelming very quickly. Luckily, the complexity of district0x (DNT) can be distilled down to the operability of it’s core districts.
Using the registry as a hub, internet citizens can hop between markets and communities while contributing to the development of the platform. And as votes are made for the curation of content, and claims are staked into the districts that represent your individual tastes, the game that defines this token curated registry (TCR) becomes intuitive, fun and addicting.
This brief summary of district0x (DNT) concludes part 1 of our series. Stay tuned as we go deeper into the communities that make up the district0x Registry and review the Memefactory from a curator and collector’s perspective.
Micah C. Miracle
Disclaimer: This article is not meant to give financial advice. Opinions herein are purely the author’s and do not necessarily reflect those held by Crypto Gazette. Do your own research before investing. Thanks.
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