Depository Network

The World’s First Decentralized Multi-Platform Collateral Infrastructure

1544801498203 1541030400000 true

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Token Price: 1 DEPO-X = 0.00008 ETH

Blockchain Depository Platforms Provider

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 platform enables cryptoholders to use blockchain assets as collateral for loans.

Next Generation Platform To Deposit Crypto As Guarantee

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.

“A huge potential market to disrupt” according to ICOindex review.

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Intended Use of Funds

FAQs

What is the Depository Network?

Depository Network is a safe, decentralized depository service for banks and other money-lending institutions, allowing them to accept digital assets as loan collateral. This service enables digital asset holders to enable the value of their assets by allowing them to unlock their financial value.

How can I learn more about the project?

If you like to stay tuned, you can join our telegram channel where we discuss the latest news regarding the project.

What is Depository Network for the lenders?

  1. Ready-made platform for accepting of collateral. It saves time and money for development and integration
  2. Possibility to choose own risk policies, aligned with the rules of each lender
  3. Risk scores developed for the lenders based on information from the platform
  4. The service is provided by a third independent party
  5. Custodial
  6. Liquidating of the collateral in case of the loan agreement is not respected
  7. Push notifications in case of value change of the collateral
  8. Ad hock arbitrage with professional international arbiters in case of disputes based on clear rules

What is Depository Network for the borrowers?

  1. Easy access to lenders accepting crypto assets as collateral
  2. The service is provided by a third independent party
  3. Lenders’ rating based on the terms and conditions of their loans

What Depository Network does NOT do?

  1. Guarantee the price of the deposited assets
  2. Provide loans
  3. Use the assets for issuing of financial instruments

How is Depository Network decentralized?

At the moment, all collateral registers are centralized and owned by the government. We are building a state-of-the-art platform where each lender has its own collateral register, decentralizing an otherwise centralized registry.

Where is the value added for using blockchain?

The blockchain technology allows decentralization of all activities on the platform. It also allows the usage of self-executing smart contracts, ensuring that the rights of all involved parties are kept.

Do you use my assets to lend to other users?

No

Who is responsible for selling the collateral in case of failure to pay on the borrower side?

Depository Network is responsible.

How is the liquidation amount of the collateral distributed?

The bank takes the amount necessary to cover the remaining payments of the loan + processing fees, the rest goes back to the borrower.

Who bears the risk of sharp drop in the collateral value?

The lender does.

Who is responsible for settling disputes between the borrower and the lender?

Depends on the individual arrangements, we could be assigned with this responsibility.

How do we decide to sell collateral and what is the process?

The lender sends a notification, stating that the loan obligations are not respected. Depository Network sends a request to the borrower to submit additional collateral or repay part of the loan, otherwise the collateral will be liquidated.

How do we guarantee that the lender is telling the truth?

The first step, before liquidating the collateral, is to always inform the borrower first. If he/she disagrees the case is further analyzed. In case the lender is found guilty, Depository Network will take all measures to exclude the lender from the platform.

How do you ensure the security of the platform?

Each lender will build separate depository on the platform. Each depository will be a multi-signature wallet, additionally insured by professional insurance companies.

If half the loan is repaid, is it possible to get some of the assets back? (partial loan payment?)

The platform will have this functionality.

If the price of the assets goes up, is it possible to withdraw some of it?

The platform will have this functionality.

How is defined the value of the assets?

Based on the average value of the top crypto exchanges.

Who can access the assets?

Each collateral will be locked with three keys – one for the borrower, one for the lender and one for Depository Network.

Svetoslav Dimitrov
CEO & Co-Founder

Law firm Penkov, Markov & Partners Managing Partner Bulgarian Telecommunication Company AG Former member of the Supervisory Board

Dimitar Kostov
Technology Board Member and Investor

VMware (NYSE:VMW) Director and ISBU site lead Sciant/WizCom (acquired by VMware) Managing partner

Martin Kuvandjiev
Technology Board Member

Bitcoin Gold Co-Founder and Board Member NASA Space Apps Challenge Competitions 2015 Winner as Leader of Porject “Valkirye”

Delyan Nikolov
Co-Founder & Chief Strategy Officer

Court of Arbitration of Commercial Disputes Co-Founder and Board Member EJN at the European Commission Representative of the Bulgarian Chamber of PEA

Valeri Valtchev
Co-Founder & Business Development

White & Case Former Director of European Trade Services Forton International (acquired by Cushman & Wakefield) Managing Partner and Board Member

Guergana Stoichkova
COO

Bulgarian Fintech Association Director 180 Degrees Consulting Sofia Co-founder & Vice President

George Spassov
Blockchain Architect

Petar Markov
Co-Founder & Marketing

Nick Todorov
Blockchain Developer

Desislava Filipova
Sales and Мarketing Еxpert

HK Seol
Community Manager

2017

Concept Definition

2018 Q1-Q2

Team Formation, Preparations

2018 June

First Prototype DEPO

2018 Q3/Q4

Private and Public Pre-sale, ICO

2018 Q3

Alpha Release DEPO

2018 Q4

Beta Release DEPO

2019 Q1

Official Launch of DEPO

2019 Q4

Users: 10 P2P lending platforms and 50 non-bank lending institutions

2022

Users: 50 P2P lending platfirms, 100 banks and 500 non-bank lending platforms

2025

Users: 800 banks and 1500 non-bank lending institutions

There are no proposals in this project yet
Creating new proposals will be available only after the soft cap is reached.
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Token pricing

Each day thereafter, new MTN tokens will be sold in a DPA at the rate that is the greater of 2,880 MTN per day.

Bitcoin0.000321 BTC = 1 MDAO
Ethereum0.053647 ETH= 1 MDAO
Ripple0.053647 XRP= 1 MDAO
Litecoin0.053647 LTC= 1 MDAO
Monero0.053647 XMP= 1 MDAO
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Each day thereafter, new MTN tokens will be sold in a DPA at the rate that is the greater of 2,880 MTN per day.

20 nov - 25 dec
50%
20 nov - 25 dec
50%
20 nov - 25 dec
50%
20 nov - 25 dec
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