district0x Price

What Is District0x (DNT)?

DNT is the native ERC-20 token of District0x, an Ethereum-based platform that provides a development framework to easily build and launch apps, marketplaces and virtual communities. The platform focuses on helping developers launch censorship-free decentralized apps (DApps), called districts, with a decentralized autonomous organization (DAO) as their core governance unit.

District0x exists as a set of smart contracts on Ethereum that developers can extend with their own customized smart contracts to enable district-specific functionality.

Districts launched via the platform’s development framework, d0xINFRA, use the Ethereum blockchain as their core, and the InterPlanetary File System (IPFS) for file storage. IPFS is a secure file storage system, outside of the blockchain environment, that can effectively handle large files. Additionally, the framework provides district creators with access to Aragon, an Ethereum platform designed for easy deployment of DAOs. The DAOs can act as the main governance mechanism within districts.

District0x (DNT) Price

DNT started trading in October 2017 at a price of around $0.04. In December 2017, the token started rapidly gaining in price, reaching $0.43 by early January 2018. This price spike was relatively short-lived, with DNT falling back into the sub-10-cent territory by February.

Despite the crypto market crash that began in early 2018, DNT was largely stable, growing modestly between February 2018 and May 2018. In early May 2018, the token recovered to $0.11. However, it then joined the majority of other cryptocurrencies in declining amid the 2018 crypto winter losses. By the end of 2018, DNT was worth only around a cent.

DNT’s price remained at around one cent for the first half of 2019, then firmly slid below the $0.01 mark by August 2019, a level that lasted for more than a year until November 2020.

The token then experienced its second large spike. Between November 2020 and April 2021, DNT increased from less than a cent to an all-time high of $0.48. Unfortunately, when the crypto market crashed again in May 2021, it dragged DNT into a tailspin. In July 2021, DNT was worth only $0.10. While experiencing some ups and downs along the way, the token has largely been on a longer-term downtrend since then. Its price fell below 5 cents in May 2022 and has remained in the low single-digit cents.

What Is DNT Used For?

As a governance token, DNT is used to facilitate access to the District Registry, where token holders get to participate in the development of the platform and vote on various aspects of the platform’s governance.

DNT may also be used for staking for district-specific voting rights to participate in the governance of individual districts. DNT stakers get the opportunity to mint new district-specific custom governance tokens.

DNT Tokenomics

DNT has a total supply of 1 billion, with no supply limitation. Its allocations are as follows:

• 60% — Crowdsale
• 19.8% — Founders
• 18% — Project’s reserve
• 2.2% — Community rewards and advisors

Who Is the Founder of District0x?

District0x was founded by two blockchain entrepreneurs, Joe Urgo and Matus Lestan.

Read more: What Is District0x: Creating Districts of Decentralized Marketplaces

How to Store DNT

DNT is an ERC-20 token that can be stored in many popular software wallets, such as MetaMask, Trust Wallet, Atomic Wallet and MyEtherWallet (MEW). The leading hardware wallets for ERC-20 tokens include Ledger and Trezor.