Go to the profile of Joe Urgo
Joe Urgo
Co-founder at @district0x, Founder at @sourcerersio

district0x Network Fundraiser

Contribution Period v0.1 starts on July 18th

The district0x Network is a collective of decentralized marketplaces and communities powered by Ethereum, Aragon, and IPFS. The following video gives a quick overview of what we are building.

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.

Contribution Period v0.1 Details

On July 18th the district0x Network will be launched with the creation and distribution of the district0x Network Token to participants in our initial contribution period.

  • Start Time- 3:00 PM UTC July 18th, 2017
  • Duration- 2 weeks, or 48 hours after after soft cap is exceeded, or when security cap is reached
  • Soft Cap- $10M USD equivalent in ETH
  • Security Cap- $50M USD equivalent in ETH

Initial Token Distribution

  • 1,000,000,000 district0x Network Tokens (DNT) will be minted in the token generation event
  • 600,000,000 DNT will be allocated to participants in Contribution Period v0.1
  • 200,000,000 DNT will be allocated to the founding team, vesting over the course of 2 years
  • 180,000,000 DNT will be reserved for a potential 2nd and 3rd contribution period, subject to occur only in the event that additional funding is needed and key roadmap items have been completed
  • 20,000,000 DNT will be allocated to advisors and early contributors, including participants in our Community Advisor Program

A Fair Distribution Model

We have taken numerous steps to ensure a level playing field for all and to try to achieve a wide distribution of district0x Network Token holders.

Enhancing Safety with ENS

In an effort to minimize fraud, we will make use of the Ethereum Name Service to provide a human-readable address in place of a hexadecimal string, allowing supporters to participate by sending funds to district.eth, district0x.eth, or districtox.eth once the contribution period has started.

district0x Power Plant

In our recent district0x Power Plant proposal, we laid forth plans to make use of a ‘stability reservoir’ to provide immediate liquidity and grant participants a way to recoup their contributions should they grow unhappy with the progress of the project. This will effectively act as a price floor until auxiliary modules and the district creation interface have been deployed.

Learn More

To learn more about the district0x Network check out our white paper and initial announcement. Subscribe for email updates, follow us on Twitter, and join our growing community on Slack.