Depository Network
Multi-Platform Collateral Infrastructure,
About:
Depository Network (DEPO) is the world's first multi-platform network enabling all traditional credit institutions worldwide and P2P lending platforms to accept digital assets as collateral. By building and spreading DEPO globally. Their aim is to reach a tipping point for mass adoption of using blockchain assets in traditional lending.
Full review:
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.
Functioning:
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.
In 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:
Why they are different:
Benifits:
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.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.
Token distribution image:
About token:
Token:DEPO
PreICO Price
1 DEPO = 0.005 USD
Price
1 DEPO = 0.01 USD
Bonus:Available
Bounty:Available
MVP/Prototype:Available
Platform:Ethereum
Accepting:BTC, ETH, LTC, BCN, BTG
Soft cap
2,600,000 USD
Hard cap
15,000,000 USD
Restricted areas:USA, Canada, China
To know more about ico please visit:
Website:https://depository.network
Ico link:https://ico.depository.network/user/
Whitepaper:https://depository.network/doc/whitepaper.pdf
User: jeet singh
Bountyhive username:jbsingh