Depository Network is known to be the world`s first multi-platform network for P2P loaning commercial centers, banks, other credit organizations) to acknowledge advanced assets as collateral. Depository Network gives a crucial component of this foundation: a sheltered, decentralized depository for collateral resources. In the computerized world, this is as critical as in the conventional world.
By building the Depository Network Platform network around the world, the main objective of DEPO is to achieve a tipping point for mass reception of utilizing blockchain resources in conventional lending.
Also, when it comes to the Depository Network smart contracts, there will be two major types of collateral smart contracts:
1. DEPO Smart Contract - with no mediator. It will be completely incorporated with the lender’s API and will be activated by a payment, missed payment, termination of contracts, etc. It will be made for resources issued on platforms like Qtum, Lisk, EOS, Cardano, Etherium, Aeturnity and others containing smart contracts.
2. DEPO Escrow Contract - Locked with at least three signatures - one for the lender, one for the borrower, and one for DEPO. DEPO security contracts will be utilized for coins and tokens without the support of smart contract.
ISSUES ARISING
Huge future market capitalization of blockchain advanced resources.
Locked financial estimation of digital assets.
Lenders can’t acknowledge digital assets as collateral.
Inefficient for lenders to create own depositories.
WHAT DEPOSITORY NETWORK TENDS TO SOLVE
Depository Network tends to make provision for secure decentralized crypto resource security framework on which can be manufactured in several collateral depository platforms. Thusly, every digital assets owner, holding tokens upheld by Depository Network, can vow his assets as a collateral and get a credit from various loaning foundations. Then again, any lender, everywhere throughout the world, will have the ability to manufacture its own depository on the Depository Network platform and begin to accept all kinds of digital resources as collateral. Along these lines, each lender will keep the collateral resources in a discrete autonomous depository. Loans will be given autonomously from the Depository platform, in any cash upheld by the respective moneylender
BENEFITS
Collateral smart contracts.
Multi-signature collateral contracts.
Fully integratable with any lender website.
The borrower holds the responsibility of his digital assets, thereby profiting from any potential future increment in value.
Time and tax savings
Independent service provider
Flexibility
Quick to set up
DEPOSITORY NETWORK TOKEN AND TOKEN DISTRIBUTION
To get the assets expected to set up the Depository Network, a token sale has been launched. The aggregate supply of DEPO tokens will be 3 billion.
50% (1.5 billion DEPO tokens) of the supply can be sold at the token sale.
12% (0.36 billion DEPO tokens) of the supply will be saved for the founders and team members.
26% (0.36 billion DEPO tokens) of the supply will be used for the airdrop program, bounty program, advisors and ICO marketing.
12% (0.78 billion DEPO tokens) will be retained by the DEPO Reserve.
USE OF FUNDS
The funds raised amid the ICO will be used for the advancement, promoting, lawful and other costs required for the improvement and support of the system. 35% of the expenses will be used for the development of the product to manufacture a protected and adaptable system. Administrative and lawful costs will be 15% of assets and will be used to adjust the system to agree to the world's major legitimate systems. We will use up to 35% of the funds raised to build up our worldwide Depo
ROADMAP
For more info about this platform, and also to join the network, endeavor to visit:
WEBSITE
TELEGRAM
WHITEPAPER
FACEBOOK
TWITTER
REDDIT
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