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Depository Network
Multi-Platform Collateral Infrastructure
Depository Network is a B2B project combining the traditional financial system with the blockchain technology.
We build a secure infrastructure for lenders to accept blockchain assets as guarantee for loans.
- Improve the liquidity of 100 million crypto holders.
- Allow all lenders worldwide to enter into the crypto world.
- Support many crypto currencies and tokens.
Depository Network enables all lenders to accept crypto as guarantee without changing the lending process.
We provide the missing technological layer to the lenders as banks, credit institutions, and p2p lending platforms.
Depository Network is the world`s first multi-platform network enable lenders (P2P lending marketplaces, banks, other credit institutions) to accept digital assets as collateral.
More than 50,000 banks, sub-prime lenders, consumer finance companies, crypto lenders and P2P lending platforms all over the world. Our goal is within 7 years to reach 5 % penetration in global lenders market.
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.
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.
There will be two types of collateral smart contracts:
1. DEPO Smart Contract - with no middleman. It will be fully integrated with the lender’s API and and will be triggered by an event such as a payment, missed payment, contract termination, etc. It will be created for assets issued on platforms such as Etherium, EOS, Cardano, Qtum, Lisk, Aeturnity and others containing smart contracts.
2. DEPO Escrow Contract - Locked with minimum three signatures - one for borrower, one for lender, one for DEPO. DEPO collateral contracts will be used for digital asstets (coins and tokens) without smart contract support.
The current pledge registers are strictly centralized state structures maintained separately by each country. Depository Network will overtake these functions from the state and provide them to the businesses. This will greatly boost the cross-border nature of the credit economy.
When you make a new business - you enter a competition (with other ICOs or FIAT projects that provide various solutions to satisfy the tagreted customers). So it is a mistake not no make a competitive analysis. It make believe that your strategy maybe wrong and out of the market. There is also no business planning in the WP. The team itself is too localised
Delyan NikolovICO team member replied on 5 Jul 2018
Hello Mr. Karavaev ,
Thank you for your review.
I believe there is a misunderstanding. We do not compete with FIAT and other cryptocurrencies, and we are not loan provider.
We are building infrastructure, where each lender will be able to build their own white label depository platform for accepting all types of crypto assets (currencies and tokens) as collateral for loans.
We provide a completely new business model for depositing crypto assets as guarantee for the entire banking industry.
We are doing so by providing the technological layer (user interface, backend, smart contracts) to the lenders (which can be banks, credit institutions, p2p lenders). That way we are making our business model scalable and available in many different countries.
I do also want to mention that Depository Network is enabling all the big and small players in the lending market to be able to start accepting crypto without changes in the way they are providing loans, which is giving us even more scalability and potential of resounding success.
I like the advisor team because of their authorities but it does not mean the project idea can be a great success.
Competing with FIAT and other cryptocurrencies which has stable standing is not an easy work so you need to have careful review and analysis of pros and cons. Without showing investors the solutions on how to compete with other payers to win the battle, you can't convince investors to contribute to the project.
Delyan NikolovICO team member replied on 5 Jul 2018
Hello Mr. Tran,
Thank you for your review.
I believe there is a misunderstanding. We do not compete with FIAT and other cryptocurrencies, and we are not loan provider.
We are building infrastructure, where each lender will be able to build their own white label depository platform for accepting all types of crypto assets (currencies and tokens) as collateral for loans.
We provide a completely new business model for depositing crypto assets as guarantee for the entire banking industry.
Founder Of BlockConnectors.io (Top Blockchain Advisory Firm In Asia) | Consulted 20+ ICOs | Marketing Expert Rated on Aug 24, 2018
5
5
4
7%
I would look at it as a crypto bank and the co founder Ivo Gueorguiev is serial entrepreneur after looking at this linkedin profile. Seems like a good project but gaining adoption might be a tough one because of the number of competitors out there.
This is not financial advice or a recommendation to invest in this or any other ICO. Investors must perform their own due diligence and not rely on external ratings to make their final investment decisions. ICOs are risky and 100% loss of capital is possible.
ICO Consultant | Influencer | Strategy and Vision Execution | Public Relations | Crypto-funds | Blockchain Development Lead Rated on Aug 24, 2018 Modified on Aug 24, 2018
5
3
3
7%
Good team and detailed white paper but it seems to me yet another (solution) platform for P2P lending platform. Couldn't find competition analysis so It would nice to have it to prove they are "The World’s First Decentralized Multi-Platform Collateral Infrastructure". Tried to find username / password for MVP but couldn't get it neither able to create an account!
[Update]
Team++
Vision--
Team sent me MVP credentials on LinkedIn. Tested it on Ethereum test-net. Looks good.
[Correction] The platform provides only collateral solution for lenders which narrow down the scope of the product! Why would borrowers needs Blockchain to put assets for loans? There are many crypto collateral solutions out there!
Delyan NikolovICO team member replied on 9 Oct 2018
Dear mr. Masani
Thank you for your review. Crypto collateral solutions are made only by lending projects.
We provide ecosystem with technical solutions which will be used from traditional lending companies.
For example - lending blockchain projects with crypto collateral solutions have $ 200 million capital.
Traditional lenders have hundreds of trillions dollars capital.
Ph.D. | CEO | FinTech in Stocks | Blockchain in Cryptos | Author of Amazon Best Sellers in Online Trading Rated on Oct 28, 2018
5
5
5
7%
“We build a secure infrastructure for lenders to accept blockchain assets as guarantee for loans. - Improve the liquidity of 100 million crypto holders.“
Please priovide reference source for the 100 million crypto holders?
Project looks promising with a star advisory team.
Enterprenuer | CEO | ICO Advisor |Investor | Blockchain Enthusiastic | Public Speaker Rated on Aug 13, 2018 Modified on Aug 14, 2018
5
4
4
6%
very good team and advisers. Vision is good as well. Just need to be more faster to follow the roadmap as there are already lots of competition in the market. Team need to concentrate on connecting to FIAT based partners(funds) who can boost their chances in this competitive world. Best of luck team.
Blockchain & ICO Advisor, Investor, Serial Entrepreneur Rated on Sep 12, 2018
4
3
3
6%
Team looks experienced enough to execute a project of this level, but they are not the only ones competing in the B2B lending against crypto space. It will take some time before cryptos are stable enough to be recognized as collateral against fiat.
ICO Advisor | ICO Analyst | Blockchain Researcher Rated on Oct 9, 2018
4
4
4
6%
I like the idea of marketing their depo platform to the traditional financial system. They talk about solving the issue of mass adoption, but they don't really say how they plan to solve it.
This is not financial advice or a recommendation to invest in this or any other ICO. Investors must perform their own due diligence and not rely on external ratings to make their final investment decisions. ICOs are risky and 100% loss of capital is possible.
ICO advisor|Crypto-asset and ICO investor| Libertarian|CEO of Block Venture Project Rated on Jul 29, 2018
4
5
3
5%
Team - C-suite seems lacking in thorough experience of banking and crypto, the 2 major features of this project. Some good advisors onboard. Further legal advice should be sought for an international project in multiple jurisdictions.
Vision - WP explains the concept well, but, in my opinion, I cannot see this platform catching on for many years. Banks are not allowed to use cryptocurrencies as part of their tier 1 capital adequacy due to the volatility of crypto, so I can't see them accepting crypto as collateral at the moment. That's not to say things won't change in years to come, but I cannot see the platform being very well subscribed over the next 5 years.
Product - cannot find an MVP. 3 for now.
This project seems a little ahead of its time. That's not to say it won't become relevant in the future however, but this would take a wholesale shift in both the reliability of crypto as a store of value and zeitgeist of how traditional financial service providers view crypto-assets.
Good luck to the team with the project implementation.
CFO & Co-Founder Rated on Aug 24, 2018 Modified on Aug 25, 2018
5
5
4
5%
The team and advisory board is strong, though competitive analysis is needed. The project has a strong vision, it’s way ahead of its time. The whitepaper is detailed. I am eagerly waiting for the project MVP.
Update: I have received the MVP from Depository Network, the UI is simple and easy to use. I wish long-lasting success to the team.
Blockchain Specialist BVS; ICO Advisor; Scrum Master; Switzerland Rated on Oct 12, 2018
4
5
3
5%
The idea is nice that every lender could define its own condition, but it exists already such platforms which are working. www.coinloan.io is such a platform and its working great.
But I like the idea that they want to expand the crypto community to traditional lenders.
I like the idea that coins from other blockchain projects could be used as collateral. Thats a really good approach and makes other coins more useful.
The multisig wallet its also a good idea.
Couldnt find a MVP.
Founder TOTS | Strategist | Consultant | ICO | STO Rated on Oct 12, 2018 Modified on Oct 12, 2018
4
3
3
4%
The vision is unique but there is high competition in the lending space. For the project to be successful it must seek adoption from its biggest market - lenders. For this to occur people actually need to borrow / leverage crypto assets.
The WP does provide numbers on the opportunity this market presents but doesn't mitigate relevant risks involved.
The team is experienced with extensive years of finance.
Journalist, PR, Business Woman and Crypto Enthusiast Rated on Nov 2, 2018
2
5
5
3%
9 Team Members and 11 Advisors. Highly recommended to increase your team size if you want to implement this project.
Aside from this, the other aspects of the project look good.
Blockchain Expert | Family Office Owner | Entrepreneur | ICO Advisor | Global Speaker Rated on Jul 30, 2018 Modified on Jul 31, 2018
4
3
4
3%
VISION: An interesting and ambitions vision, though a great deal of experience and work will be needed to be able to deliver this in practice and there may be regulatory and legal issues that need to be considered carefully. 3/5
TEAM: The team looks strong although concentrated in Bulgaria which maybe an issue given the cross-border vision. Some members seem to be shared with other projects. 4/5
PRODUCT: The white paper seems to be perfectly acceptable. It makes clear what problems are being solved and how this might be achieved. 3/5 +++REVISED 31 Jul 2018: after contact from the team, I was able to review the MVP which looks good, and better than average for this stage of the project. My original rating contained the words "The MVP link does not seem to work -- guys feel free to reach out." which are now obviously retracted. I'm increasing the mark by 1 to 4/5+++
This is not an invitation to invest. ICOs are risky and you can lose everything you put in.
"We are building infrastructure, where each lender will be able to build their own white label depository platform for accepting all types of crypto assets (currencies and tokens) as collateral for loans."
I think its a very interesting approach, looking forward to product development.
This rating was based on the information available at the time of the evaluation. This is not a recommendation to invest in this or any other ICO. Please do your own research.
Serial entrepreneur Rated on Nov 21, 2018 Modified on Nov 21, 2018
3
4
3
3%
Good idea, but it is more important on how to realize it. From technology side, I am sure it can be done, but there are many questions come to my mind, raise a few as below:
1.What if it belongs to different jurisdiction, like in China, P2P is illegal & not permitted, and it is more complicated in US;
2. The digital assets as collateral is not a new idea, but what will you do if the collateral's value shrank by 90% because of the volatility of digital asset?
3. I did not any word regarding decetralized because if you are a centralized platform, how can you guarantee the safety of the assets from both lenders and borrowers?
4. What is your business model to make yourself and the lenders profitable?
...........
You can refer to MakerDAO, they have this kind of economy system for your reference.
Delyan NikolovICO team member replied on 3 Dec 2018
Hi Gao.
Thank you for your review.
1.What if it belongs to different jurisdiction, like in China, P2P is illegal & not permitted, and it is more complicated in US;
Answer: The lender should comply with the local legislation. We don’t change the way lenders work, neither we interfere in the lending process. We provide a collateral solution every lender worldwide can use.
2. The digital assets as collateral is not a new idea, but what will you do if the collateral's value shrank by 90% because of the volatility of digital asset?
Answer: There are several options:
1. Margin call option for every lender.
2. Automatic collateral sell off.
3. Insurance loan default.
4. Other.
We will provide options for lender to choose how to protect their credit risk.
3. I did not any word regarding decentralized because if you are a centralized platform, how can you guarantee the safety of the assets from both lenders and borrowers?
Answer: Every lender will have its own white label depository platform. There will be no connection between different collateral platforms.
Cold wallets and custodial services shall be offered as options to the lenders to choose.
4. What is your business model to make yourself and the lenders profitable?
Answer: Lenders will use the white label platform for quick and cost efficient enter in blockchain services. The white label platform will increase their business by offering new assets as collateral for existing and new costumers. Depository Network will benefit from compensation paid for using the platform worldwide.
ICO Advisor/Blockchain Entrepreneur/ex-CTO Amex/Global Head of Innovation KPMG Rated on Sep 22, 2018 Modified on Sep 23, 2018
3
3
3
2%
The idea is good in principle but the way the Whitepaper positions the product is not clear enough. For example the "Depo Smart Contract" makes Depo the middleman, it does not remove but adds players to a lenders process. I believe what they mean to say on P10 item 6 of the paper is 2 not 3 signatories. The paper should focus on Depo as a Blockchain Escrow service for traditional lenders wishing to accept crypto assets as collateral. I'm not sure there is enough international lending/banking experience in the team, especially from the core NBFI's that would be the main market for the solution.
The Whitepaper is not detailed enough with regards to the problems, solutions or the underlying technology.
Delyan NikolovICO team member replied on 11 Oct 2018
Dear Mr. Robinson
You support LendSend project - Tokenised lending platform (ICO planned Q418). It is written in your profile.
It is too strange that you rate very low our project Depository Network and the other project Lendo. Both projects are similar to your project. And you have only two rated projects.
We have team rate 4.5 from 12 people but you rated us 3.
Lendo has product rate 4.5 from other experts but you rated Lendo 2.
Experts are independently and voluntarily contributing to the community. If no expert has rated the ICO, only ICO analyzer's results are used. Always research before investing as these ratings should not be taken as an investing guide of any kind.
Ratings and ICO analyzer results are being updated (re-calculated) every few hours.
