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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.

4.2
17 16 expert ratings
Benchy 4.9
Experts
4.3
4.0
3.7
View rating distribution
Ended
2018-06-26 - 2018-08-10
Starts in 22 hours
2018-11-15 - 2018-12-15
Token
DEPO
Price
1 DEPO = 0.02 USD
Bonus
Available
Bounty
MVP/Prototype
Platform
Accepting
BTC, ETH, LTC, BCN, BTG
Minimum investment
10 USD
Soft cap
2600000 USD
Hard cap
15000000 USD
Raised
$800,000
Country
Whitelist/KYC
KYC & Whitelist
Restricted areas
USA, Canada, China
More on ICO
Report

About Depository Network

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.

Bookmark
ICO KYC Report
2 members invited
Svetoslav Dimitrov
Passed
Delyan Nikolov
Passed
KYC procedure verifies selected/specific team members only. It does not guarantee ICO success nor is a call for investment.
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