Introduction to Depository Network:
Depository Network is the first global multi-platform which will allow the lenders from all over the world to accept any type of digital asset as a collateral. It is a B2B future oriented idea which is combining the blockchain technology with traditional lending procedure. Near future, due to the mass adoption of this platform, it will reach the tipping point.
Background of this Network:
The sudden rise in bitcoin market is attracting many supporters from businesses to professions towards blockchain technology. Asset tokens, crypto currency, government bonds and digital corporate are considered as the best digital assets and blockchain technology is disrupting many industries by developing its own globally trading token. But it is difficult to value the digital asset or create any type of blockchain network for their utilization.
That’s why Depository Network is going to provide a safe, essential and decentralized depository for the collateral assets.
What are the problems in the previous system?
Bloch chain digital asset market capitalization: With the emerging benefits of blockchain, the blockchain digital asset market capitalization is increasing. This digital asset is still very unpopular in the traditional financial world but still owners of both digital and traditional financial world want a platform to fulfill the same needs i.e. liquidity of asset, use and deposit.
Digital asset locked financial value: The owners of the digital asset should sell their assets to get advantage because it is not necessary it has liquidity. The selling also involves high taxes and fees which eliminates the option to get any type of profit from these assets.
Lenders cannot use digital asset as collateral: Institutions have no depository services for the digital asset which results in locking of financial asset with high capitalization.
Lenders cannot develop their own depositories: The private companies and lenders cannot create their own digital asset depositories because it is time consuming, expensive, out of scope and inefficient.
Solution provided by Depository Network:
Depository Network is going to provide a safe digital asset collateral system on which several collateral depository platforms can be developed. The owners of the coins, tokens or digital asset can get loans from a large number lending institution by pledging his crypto asset as a collateral. The collateral asset can be kept as a separate secure independent depository. Loans can be provided independently in any currency which will be supported by the lender.
This system is using cryptographically safe multi signature wallet which will be used to store smart contracts and assets to execute the transactions. The parties cannot act on their own discretion because the key is kept by the DEPO and lender. Three to five multi-signature wallets are used depending on the amount of the collateral.
The Depository Network is allowing the lending institutes to create independent depository within the network to eliminate the need for centralized and state-owned depositories. Such type of network will be provided to the users where several independent depositories can be created by banks or any certified credit all over the globe.
What are the benefits to use DEPO Network?
- The multi signature collateral contracts and other collateral smart contracts provide secure and decentralized solutions for the acceptance of any type of digital asset.
- This network is completely integratable with any kind of lender website.
- This system is flexible, tax and time saving with many infinite customization options.
- The independent service providing facility and quick set up make this network unique.
- The owner of the digital asset will get potential benefits from any future increase in value because the digital asset retains the ownership of the borrower.
How Depository Network work for lenders?
The Depository Network is offering an independent depository platform to every lender where they can accept any type of digital asset as a collateral. During the entire loan period, the holders of the crypto asset retain the ownership. Every lender decides the terms for collateral and the market volatility is controlled by permitting a partial demand or sale for additional collateral during the loan period.
How Depository works for the borrowers?
The borrowers who want a loan first visit the trustable lender then they select a best lone option which allow them to use the crypto asset as a collateral. A contract is signed between the lender and borrower. The digital asset is deposit on borrower’s DEPO. The borrowers can get the cash to use it according to the plan after the loan is approved.
This platform is using DEPO token which can be used by any borrower to submit the fees for storing the collateral and lender to submit the annual fee for the setup. The demand of DEPO token will be increased with the addition of new lenders and borrowers.
- Token name: DEPO token
- Token price: 02 USD
- Hard cap:8 million USD
- Soft cap: 5 million USD
- Pre- sale and ICO: 50%
- Depo Reserve: 26%
- Team and founders: 12 %
- Bounty, Advisors and Airdrop: 12%
Depository Network is a decentralized, secure Network with authorized data access. From the power of the digital asset to locked value, this platform is considering many issues. Depository is the world’s first platform with decentralized digital asset collateral. This infrastructure is creating an entire new environment, in which several platforms can be built easily. i.e. banking, corporate, family, company and government. If you are interested in this ICO, then visit its site for more details.
Learn more about Depository Network:
Bounty Campaign: https://bountyhive.io/r/campaigns
Username bountyhive: campaigns
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