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.
– to reach a tipping point for mass adoption of using blockchain assets in traditional lending.
1. Huge future market capitalization of blockchain digital assets.
The market capitalization of blockchain digital assets is increasing, with new use cases and benefits of the blockchain emerging daily. While digital assets are accepted within the blockchain world, digital assets are still rather unpopular in the traditional financial world. However, owners of digital assets have the same needs – to be able to use, deposit or liquidate their assets.
2. Locked financial value of digital assets.
Digital assets do not have the necessary liquidity, and owners must sell these assets to take advantage of their value. Selling involves high fees or taxes and eliminates the opportunity to profit from these assets in the future.
3. Lenders are unable to accept digital assets as collateral.
Institutions use depository services for real asset collateral, but no such depositories exist for digital assets. This results in locked financial value for a market with huge capitalization.
4. Inefficient for lenders to create own depositories.
While theoretically possible, it is expensive, time-consuming, inefficient and out-of-scope for lenders and private companies to build their own digital asset depositories.
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.
DEPO Oracle responds to queries by executing smart contract code – the business logic that runs on the DEPO smart contracts is the following:
– Updates are replicated across participants
– Authorized participants access data
– Existence and validity of the record cannot be denied
– All records are encrypted
– Only those authorized with corresponding keys can view the data
– Automate multi-party business processes.
– Reduce cost and risk of using intermediaries
– Reduce cost of fraud and regulatory compliance
– Increase auditability and trust
To obtain the resources to needed to establish the Depository Network, will be launching a token sale in Q2 and Q3 2018. The total 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 reserved for the team and founders.
26% – (0.78 billion DEPO tokens) will be retained by the DEPO Reserve
12% – (0.36 billion DEPO tokens) of the supply will be used for the bounty program, airdrop program, advisors and ICO marketing.