District0x aims to be a network on which users can deploy decentralized peer-to-peer marketplaces. In the protocol, these marketplaces are called districts and are built using an open source framework known as d0xINFRA. d0xINFRA is a stack of open source Ethereum smart contracts and front-end libraries modeled after the Ethlance backend. This framework provides users with the core functionalities to run an online market or community. d0xINFRA’s library of smart contracts will allow users to
- Establish a district
- Create posts and listings
- Provide feedback, ratings, and ranks
- Make payments and invoices
- Sett fees for accessing district services.
In addition, users will be able to customize their district through auxiliary modules such as moderation tools. Third parties are encouraged to develop auxiliary modules and monetize them through usage fees. Functionalities as well as auxiliary modules will be distributed via IPFS, a decentralized peer to peer file exchange protocol aiming to replace HTTP.
The establishment of a district on the network will trigger the creation of a corresponding entity on the Aragon Network, a platform for creating and governing virtual DAOs.
The first district on the network will be Ethlance, a decentralized job marketplace built on Ethereum. Ethlance will be followed by Name Bazar, an exchange for names registered via the Ethereum Name Service, and Meme Factory, a marketplace for trading provably rare digital assets.
District0x doesn’t intend to generate revenue as a for-profit entity. Instead, they aim to develop an open source, modular framework that enables participants on the network to decide how to best monetize the specific markets they seek to build. Eventually, the founding team hopes to transfer management of the project to DNT holders.
The District0x Network Token
The district0x Netowrk Token (DNT) is a voting rights token that will allow holders to join districts and participate in the governance of any district. By staking the DNT token to a district, users will receive voting shares in the respective district’s Aragon entity. The DNT token also grants holders a vote in governance decisions facing the district0x Project at large.
Governance for districts will take place on the Aragon network. The Aragon network allows for a wide range of possible governance models, including the creation of profit-sharing DAO tokens.
The Token Distribution
Luis Cuende, founder of Aragon; Carl Bennetts, a Status co-founder; Jake Brukhman, co-founder of CoinFund; Brayton Williams, co-founder at Boost VC; and Vincent Zhou, a founding partner of FinTech Blockchain Group are all listed as advisors.
|Incorporation status||Plan to establish a foundation|
|Team openness||Fully transparent|
|Technical Lead||Matus Lestan|
|Technical White Paper||Non-technical only|
|Available Project Code||Yes|
|Prototype||Districts modeled after Ethlance|
|Role of token||Voting Rights, When staked in a district they confer shareholder rights in a coresponding Aragon DAO|
|Token supply||1 billion|
|Distributed in ICO||600 million|
|Emission rate||180 million reserved for future token sales, one token issued and permanatly staked for every district established on the network|
|Consensus method||Proof of Work|
|Sale period||June 18th, 2017 to August 1st, 2017|
|Investment Round||First public offering|
|Token distribution date||August 8th, 2017|
|Min investment goal||2 million USD|
|Max investment cap||50 million USD|
|How are funds held||Multisignature Wallet|
|Minimal Viable Product||January 29th, 2017|