district0x Joins the Project Transparency Initiative

Further ensuring district0x’s commitment to transparency

“Leading members of the blockchain and cryptocurrency industry unite to launch Project Transparency, a voluntary disclosure standard which aims to bring self governance and greater transparency for investors and the community.”

Our community is very important to us. You support us, provide us with valuable feedback, and are our source of inspiration on how we progress forward. At district0x, we are compelled to show to our community - contributors, token holders, and supporters alike - that we are being productive, effective, and forthright in using our raised funds in a responsible manner.

As a result, we are thrilled to announce our participation in Project Transparency, a voluntary disclosure standard which aims to bring self governance and greater transparency for investors and the community.

About the Project Transparency Initiative

The goal of Project Transparency is is to create a self-regulated, industry led movement committed to ensuring transparency and accountability within the Blockchain sector. This voluntary initiative aims to encourage disclosure of wallets controlled by a project and provide a voluntary explanation of any expenditure greater than 0.5% of the funds collected.

Here’s what you need to know:

16 pre and post ICO projects, accelerators, professional services & hedge fund in the blockchain and the cryptocurrency industry have united to launch this self-regulated initiative

Any Blockchain project can join the initiative, the only criteria is to disclose the wallets controlled, funds held and explain any expenditures over 0.5% of the funds raised

Project Transparency represents $650M USD+ in gross market capitalization

Aims to improve regulatory procedures and financial disclosure within digital currency sector

Officially introduced yesterday at the Vienna ICO Summit, district0x is joined by a number of ethical, innovative projects including Aragon, Cofound.it, ICONOMI, Lykke, Santiment and many more in forming Project Transparency.

As the ICO space is seeing greater regulatory scrutiny in many markets, legal restriction in China and Korea, and a flurry of negative press around questionable projects - our involvement in the Project Transparency initiative affirms our commitment to our community and to the greater ecosystem.

How are we guaranteeing transparency?

We feel ongoing communication is the cornerstone of proper transparency. Given such, the district0x team has committed to a Transparency Policy from day one, reporting regular updates via our blog, including The District Weekly every Saturday, Dev Updates every other Tuesday, and the newly launched District Proposal Spotlight which focuses on an outstanding district proposal from a contributing member of our community.

In addition, we are forthcoming about our mission, vision, and values.

We also provide disclosures on the use of all raised funds as well as disclosures of the project’s progress which can be found on our Transparency page.

In case you missed it

Back in late July we published a post detailing our commitment to transparency. As a quick refresher, let’s take another look at each core transparency component:

Multisig wallet - This address contains all of the funds raised in contribution period v0.1. All wages and any operational expenses possible are paid directly in ETH. It’s from this wallet that we’ll meet our commitment to disclose all expenses greater than .5%. Moreover, we’ll continue to itemize and disclose smaller expenses in our quarterly transparency reports.

Wages Paid - This spreadsheet contains a full breakdown of wages paid to core team members. Wages are paid in ETH/USD equivalent every first and third Friday per month per the agreed upon salary or wage. Transactions will be sent directly from the multisig wallet above to the address provided, and will have their transaction hashes as well as the exchange rate used to calculate the final ETH payout included in the publicly viewable spreadsheet.

Project Roadmap - This link contains reference to the minimum viable roadmap included in the whitepaper. We also post weekly development updates on our blog every Tuesday under the Dev Updates tag.

Github Repository - We commit to having our github repo stay open and freely accessible forever.

Help Us Continue To Improve

At district0x we hold ourselves to the highest standard of transparency. If there’s ever a place where you personally feel we could be providing more clarity or information, we encourage you to reach out to any member of our team directly so we may consider an adjustment.

Learn More

For more information about the district0x Network: