As both blockchain technology and the digital economy mature and develop each day, the synergy between the two manifests into increasingly exciting and transformative projects. One such initiative looking to push the envelope is Depository Network DEPO, a blockchain ecosystem for lending and digital collateral. 

 

OPENING:  Depository Network is a high-tech infrastructure enabling lenders worldwide to accept digital assets as collateral. Any lender can use DEPO infrastructure to build custom depository platform and accept different types of digital assets as collateral. Holders of digital assets retain ownership for the entire loan period. The terms for the collateral contracts are defined by every lender individually.

How does DEPO work?

Money lending institutions create their own depositories on the network, where they can specify exactly which assets they accept, enabling a variety of eligible collateral that expands far beyond the Bitcoin and ERC20 tokencollateral accepted through Depository’s semi-competitors. Additionally, the individual depositor approach allows for many different types of lenders to come on board. The end result is an ecosystem made up of peer-to-peer lending platforms, non-bank lending institutions, and even the banks themselves all within the DEPO platform. Depository Network expects at least 10 peer-to-peer platforms and 50 non-bank lending institutions by the end of 2019. Long term, DEPO shoots to achieve adoption by hundreds of banks worldwide, alongside thousands of individuals and non-bank entities.

DEPO Smart Contract 

How it works

Problem Statement:

Huge future market capitalization of blockchain digital assets

The market capitalization of blockchain digital assets is increasing, with new use cases and benefits of the blockchain emerging daily. While digital assets are accepted within the blockchain world, they are still rather unpopular in the traditional financial world. However, owners of digital assets have the same needs – to be able to use, deposit or liquidate their assets.

Locked financial value of digital assets

Digital assets do not have the necessary liquidity, and owners must sell these assets to take advantage of their value. Selling involves high fees/taxes and eliminates the opportunity to profit from these assets in the future. 

Lenders are unable to accept digital assets as collateral

Institutions use depository services for real asset collateral, but no such depositories exist for digital assets. This results in locked financial value for a market with huge capitalization.

Inefficient for lenders to create own depositories

While theoretically possible, it is expensive, time-consuming, inefficient and out-of-scope for lenders and private companies to build their own digital asset depositories.

The Solution

The world`s first decentralized multi-platform collateral network

Depository Network will provide secure decentralized crypto asset collateral system on which can be build hundreds of collateral depository platforms. This way, every owner of digital assets, holding coins or tokens supported by Depository Network, can pledge his assets as a collateral and receive a loan from a number of lending institutions. On the other hand, any lender, all over the world, will be able to build its own depository on Depository Network and start accepting digital assets as collateral. Thus, every lender will keep the collateral assets in separate independent depository. All lenders define own terms for accepting, control and release of the collateral. Loans will be provided independently from the Depository platform, in any currency supported by the respective lender.

Decentralization

Our platform removes the need for state-owned, centralized depositories and allows any lending institution to built independent depositories within the system. We do provide a network on which can be build different and independent Depository platforms by every certified credit or bank institutions all over the world.

Security

To ensure the full security of our platform we use cryptographically secure multisignature wallets to store the assets, and smart contracts to execute the transactions. The borrower (owner of the assets) is always one of the key-holders whose signature is required to perform a transaction. Keys are kept also by the lender and DEPO so that none of the parties can act on its own discretion. Three, four ot five multi-signature wallets will be used depending on the amount of collateral.

DEPO Oracle responds to queries by executing smart contract code — the business logic that runs on the DEPO smart contracts is the following:  

•  Updates are replicated across participants 
•  Authorized participants access data 
•  Existence and validity of the record cannot be denied 
•  All records are encrypted 
•  Only those authorized with corresponding keys can view the data 
•  Automate multi-party business processes
•  Reduce cost and risk of using intermediaries 
•  Reduce cost of fraud and regulatory compliance 
•  Increase auditability and trust

 

Token Sale

As of July 3, the Depository Network pre-sale has officially launched. 50% of the 3 billion DEPO maximum supply will be sold throughout the entire duration of the token sales, for a maximum of US$15 million in funding. While the final stage ICO price of DEPO is US$0.02, pre-sale participants now can purchase DEPO at a 75% discount, for just $0.005 each.

ICO

Depo tokens

To obtain the resources to needed to establish the Depository Network, we are launching a token sale in Q2 and Q3 2018. The total supply of DEPO tokens will be 3 billion.

Ico

Pricing

During the pre-sale and public sale, the Ethereum smart contract will be issued on the Ethereum 

Network. Ico Token price within ICO in USD

ICO

Use of Funds

Funds raised during the ICO will be used for development, marketing, legal and other expenses required for the development and support of the network. 35% of expenses will be used for product development to build a secure and flexible network. Legal and administrative expenses will be 15% of funds and will be used to adapt the network to comply with the world’s major legal systems.Reaching as many potential clients as possible and transforming Depository Network into a truly global solution is a crucial part of our project and we will use (up to 35% of the funds raised) to establish our global depository network.

ICO Cap

ICO hard cap is $15 Million

 

ROADMAP

THE _ TEAM

Advisory Board 

 

The Powerhouse Team

Much of the excitement behind Depository Network lies in its stellar team, composed of experts from both the blockchain and finance scenes.The CEO — Svetoslav Dimitrov spent most of his 15 plus years experience in law leading NGOs as a Managing Partner at one of the top 3 Bulgarian law firms. Martin Kuvandjiev is one of the co-founders of Bitcoin Gold, a top cryptocurrency with a market cap of over USD 500 million. Other team members have spent decades working in IT, finance, and legal positions. The magnificent team of advisors adds blockchain competence and business development skills from all over the world.Recently the DEPO team participated in the Blockchain Summit London event where they presented the project and claim to already have 5 clients in the pipeline. “The interest towards Depository Network platform is huge and we want to concentrate to deliver first prototype.”, says Mr. Valeri Valtchev, long-term investor with ample experience in venture building and deal sourcing.

Valeri is also Co-Founder and Business Developer of Depository Network.The first prototype is in the process of development and will act as a stepping stone for the creation of quality-proven, reliable and secure end product.

The financial and legal experts that dominate the team are exactly the individuals necessary to forge relationships and bring in banks to such a revolutionary platform. Simply put, Depository Network has exactly the team it needs to carry out its gargantuan vision.

 “I am very excited about the possibility of using blockchain technology to release the value of digital assets.”

Ivo Gueorguiev — entrepreneur, investor and banker talks about Depository Network.

For more infomation:

• Website: https://depository.network/
• Whitepaper: https://depository.network/doc/whitepaper.pdf
• Facebook: https://web.facebook.com/depository.network/?_rdc=1&_rdr
• Twitter: https://twitter.com/deponetwork
• Telegram: https://t.me/joinchat/DLXO5kw_W-NN3Y8TDlxtCg

Author:

Bitcointalk name: galaxing

Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=875875;sa=summary

Eth: 0x9119E1338782C7B9D6Dfe2F579FddC6153FE8397