The district0x Network Token
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 (DNT) is a staking token, used by holders to join districts and participate in their governance. Upon staking district0x Network Tokens to a district, participants receive an equivalent amount of voting rights in the district.
Voting rights can be used to partake in the processes that determine everything from a district’s branding, to its accepted code of conduct, to the auxiliary modules that are integrated, to the way that fees collected by revenue-generating auxiliary modules are utilized, and beyond.
The district0x Genesis Contract will mint 1,000,000,000 DNT tokens. On July 18th, 2017, district0x Factory is hosting an initial contribution period to kick off the process of distributing DNT tokens and to support the continued development efforts of the district0x Project.
Up to 2 additional contribution periods may be hosted to further distribute DNT tokens. These may occur only after the deployment of key roadmap milestones and in the event that additional funding is necessary for the completion of the project.
Please note: 600,000,000 DNT tokens will be divided and distributed amongst all participants, each receiving an allocation proportional to the amount they contributed, relative to the total collected. After soft cap is reached, the contribution period will be closed in 48 hours In case of reaching 292750 ETH hard cap, contribution period closes immediately.
- Will enable the recreation of many of the internet’s most popular applications and services while eliminating rent-seeking and the relinquishment of decisions and personal data to third-parties - The first three projects running on district0x will be: Ethlance, ENS Bazaar, Meme Factory - The district creation platform will provide users with an easy to use interface to design and deploy their own districts to the district0x Network - Auxiliary Modules allow for the development and deployment of new features, functionality, and revenue generating mechanisms to districts - Governance by Aragon
Prior To contribution period v0.1
Prior To contribution period v0.2
Prior To contribution period v0.3
Following contribution period v0.3
Attention. There is a risk that unverified members are not actually members of the team
Opportunities:Already have a functioning district since January 2017 – it is one of the more advanced ICO projects out there. This lends a lot of credibility compared to most ICOs as it shows that the project is run by capable people.There are two ways to make money from DNT – from appreciation in DNT or from staking the right district. If you stake a district that is very profitable, the potential profit sharing can be significant.There is potential for district0x to become the go-to place for creating DAOs. Lots of districts can be created, as long as they use any of these functions: posting and listings, search and filtering, ranking and reputation, and payments and invoicing. This is great for the Ethereum ecosystem.
Concerns:It is unclear how much easier it is to create DAOs on the district0x platform. If the cost and time savings are not significant, then there may not be many districts to be created on the district0x platform.If you stake an unprofitable district, you will not be able to receive distributions from it.The hard cap of $50 million is on the high side.
Conclusion:Overall, I like this ICO for its long-term potential. With this token, you only need one or several districts to be successful in order for DNT to appreciate in value. This is different from other ICOs where they only have one project and token value hinges entirely on the success of that one project. It is going to mitigate the risks compared to most of the other ICOs.Our thoughts of the tokens for short term and long term are as follows:For short-term holding:Neutral. On one hand, it already has a functioning district which brings a lot of credibility to the ICO, but on the other hand, the hard cap of $50 million is rather high.I don’t think it has problems raising the hard cap amount, but once the tokens hit exchanges, there may be a lot of selling pressure since there will be many DNT holders.For long-term holding:Good. As mentioned above, there is a lot of potential for DNT value because even if only a few districts become successful, DNT value should appreciate substantially.
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