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A few days ago Coinbase decided to list on its main exchange the district0x (DNT) cryptocurrency, which was already supported by the pro version of the platform from the end of 2018.
In fact, the American project was launched in 2017 with an ICO that had raised $9 million.
This listing on Coinbase has increased the value of the cryptocurrency, which is now priced at $0.061 with a 90% increase in the last 24 hours.
What is the DNT cryptocurrency used for?
district0x is a decentralized network of marketplaces. Each community, which is called “District”, operates on the Ethereum network and uses the libraries named d0xINFRA.
Each of these districts is therefore based on a decentralized and open-source structure.
The mission of the project is to create self-supporting communities by providing incentives to use the platform itself.
All communities, in fact, are based on district0x as a focal point, but each one has the freedom to set its own prices, make invoices and have its own clients.
These districts are governed by a governance token that relies on Aragon‘s famous platform, so this is a fully-fledged DAO.
The relationship with Aragon is very strong considering that one of the advisors of the project is Luis Cuende, co-founder of Aragon.
In fact, it is precisely through the DAO that the different districts are created, which must be included in a special register of districts. Currently, the DAO contains 7 different districts and each district has its own token.
The roadmap and the DNT tokens
When looking at the project roadmap we can see that there is still a long way to go since we are still at version 1 of the network, whereas the roadmap foresees 3.
As far as the cryptocurrency is concerned, DNT is defined as a multi-utility token since it is used by the whole DAO as a governance token but also as a token to access exclusive services, staking and more.
DNT’s total supply is 1 billion and circulation supply is 751,222 million.