DEPO NETWORK

proluv (25)in #depo • 6 years ago (edited)

What is the Depository Network?

DEPO is the main multi-platform network enabling all credit organizations worldwide to accept crypto as collateral for loans. Depository Network is a B2B project joining customary finance and blockchain technology. By building and spreading DEPO network universally, our point is to reach a tipping point for the mass appropriation of utilizing crypto assets in conventional lending. Spreading depository platforms among lenders will increase DEPO tokens demand.DEPO tokens will be used from lenders to pay a one-off setup fee and yearly fee for utilizing white label depository platform and borrowers to pay a fee for putting away collateral.

DEPO do believe that cryptocurrencies are modern assets. By building and spreading the DEPO multi-platform network all-inclusive, our point is to reach a tipping point for mass reception of utilizing blockchain assets in customary lending. Depository Network will provide a secure, decentralized crypto asset collateral system whereupon hundreds of collateral depository platforms can be manufactured. Therefore, DEPO's asset is enabling all the cryptocurrency holders who possess coins supported by our platform to be eligible to get a secure advance from a certified bank or credit organization utilizing the Depository Network system.

There are several advantages to the Depo network. Advances are provided independently from the depository, in any currency supported by the respective lender. Every lender can white label its depository and can define claim terms for accepting, control and release of the collateral. Borrowers don't need to be a member of the platform to use its services. Every lender keeps the collateral assets in separate independent depositories. DEPO can't operate with the assets at its own particular discretion and the borrower can control his collateral record in real time. The platform is completely integrable with any lender website and the borrower retains ownership of his computerized assets, so he can benefit from any potential future increase in value.

How does the DEPO savvy contract function? To start with the lender sets up his depository platform on the Depository Network. The terms and agreements for the collateral are defined by the lender. Then the lender can offer credits to be secured with computerized assets. The borrower consents to an advance arrangement with the lender and creates a wallet in the DEPO network and deposits the computerized assets as collateral. This collateral is held by a multi-signature wallet with at least three signatures for the borrower, the lender and DEPO. Presently the brilliant contract is activated. The borrower then receives trade from the lender out fiat money. When the agreement ends the shrewd contract releases the collateral to the borrower.

Their team started in early 2018 and will place a private and open sale in Q3/Q4 2018. Right now there will likewise be the alpha and beta release of the platform. Official dispatch will be in 2019.

ICO soft cap is $2,6 million while its hard cap is $15 million. The aggregate supply of DEPO tokens will be 3 billion, half of the tokens (1.5 billion DEPO tokens) will be sold to investors, 12% (0.36 billion DEPO tokens) of the supply will be reserved for the team and founders. 26% (0.78 billion DEPO tokens will be retained by the DEPO reserve and 12% (0.36 billion DEPO tokens) will be used for the bounty program, airdrop program, guides, and ICO marketing. The token price reaches from 0.005 USD for 1 DEPO token in the private investment round to 0.02 USD for one token in the third stage of the ICO.

Token Distribution

Use of Funds

Roadmap