More than 50,000 banks, sub-prime lenders, consumer finance companies, crypto lenders and P2P lending platforms all over the world. Our goal is within 7 years to reach 5 % penetration in global lenders market. 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. To ensure the full security of our platform we use cryptographically secure multisignature wallets to store the assets, and smart contracts to execute the transactions.
The borrower (owner of the assets) is always one of the key-holders whose signature is required to perform a transaction. Keys are kept also by the lender and DEPO so that none of the parties can act on its own discretion. Three, four ot five multi-signature wallets will be used depending on the amount of collateral. There will be two types of collateral smart contracts:
1. DEPO Smart Contract - with no middleman. It will be fully integrated with the lender’s API and and will be triggered by an event such as a payment, missed payment, contract termination, etc. It will be created for assets issued on platforms such as Etherium, EOS, Cardano, Qtum, Lisk, Aeturnity and others containing smart contracts.
2. DEPO Escrow Contract - Locked with minimum three signatures - one for borrower, one for lender, one for DEPO. DEPO collateral contracts will be used for digital asstets (coins and tokens) without smart contract support.
The current pledge registers are strictly centralized state structures maintained separately by each country. Depository Network will overtake these functions from the state and provide them to the businesses. This will greatly boost the cross-border nature of the credit economy.
CEO & Co-Founder
Technology Board Member and Investor
Technology Board Member
Co-Founder & Chief Strategy Officer
Co-Founder & Business Development
Co-Founder & Marketing
Business Development & Strategy
ICO bench Advisor
Technology Board Advisor
Business development advisor
Rated on 2018-07-21
The idea and vision of the project are surely good as the project aims to build one of the essential parts of the future crypto-financial infrastructure which can potentially unite the broken parts of the current crypto-exchange/-finance market. However, such project is very ambitious and should be executed with care and professionalism.
Rated on 2018-08-13
very good team and advisers. Vision is good as well. Just need to be more faster to follow the roadmap as there are already lots of competition in the market. Team need to concentrate on connecting to FIAT based partners(funds) who can boost their chances in this competitive world. Best of luck team.
Rated on 2018-07-03
When you make a new business - you enter a competition (with other ICOs or FIAT projects that provide various solutions to satisfy the tagreted customers). So it is a mistake not no make a competitive analysis. It make believe that your strategy maybe wrong and out of the market. There is also no business planning in the WP. The team itself is too localised
Rated on 2018-07-05
I like the advisor team because of their authorities but it does not mean the project idea can be a great success. Competing with FIAT and other cryptocurrencies which has stable standing is not an easy work so you need to have careful review and analysis of pros and cons. Without showing investors the solutions on how to compete with other payers to win the battle, you can't convince investors to contribute to the project.
Rated on 2018-08-24
I would look at it as a crypto bank and the co founder Ivo Gueorguiev is serial entrepreneur after looking at this linkedin profile. Seems like a good project but gaining adoption might be a tough one because of the number of competitors out there. This is not financial advice or a recommendation to invest in this or any other ICO. Investors must perform their own due diligence and not rely on external ratings to make their final investment decisions. ICOs are risky and 100% loss of capital is possible.
Rated on 2018-07-29
Team - C-suite seems lacking in thorough experience of banking and crypto, the 2 major features of this project. Some good advisors onboard. Further legal advice should be sought for an international project in multiple jurisdictions. Vision - WP explains the concept well, but, in my opinion, I cannot see this platform catching on for many years. Banks are not allowed to use cryptocurrencies as part of their tier 1 capital adequacy due to the volatility of crypto, so I can't see them accepting crypto as collateral at the moment. That's not to say things won't change in years to come, but I cannot see the platform being very well subscribed over the next 5 years. Product - cannot find an MVP. 3 for now. This project seems a little ahead of its time. That's not to say it won't become relevant in the future however, but this would take a wholesale shift in both the reliability of crypto as a store of value and zeitgeist of how traditional financial service providers view crypto-assets. Good luck to the team with the project implementation.
Rated on 2018-07-30
VISION: An interesting and ambitions vision, though a great deal of experience and work will be needed to be able to deliver this in practice and there may be regulatory and legal issues that need to be considered carefully. 3/5 TEAM: The team looks strong although concentrated in Bulgaria which maybe an issue given the cross-border vision. Some members seem to be shared with other projects. 4/5 PRODUCT: The white paper seems to be perfectly acceptable. It makes clear what problems are being solved and how this might be achieved. 3/5 +++REVISED 31 Jul 2018: after contact from the team, I was able to review the MVP which looks good, and better than average for this stage of the project. My original rating contained the words "The MVP link does not seem to work -- guys feel free to reach out." which are now obviously retracted. I'm increasing the mark by 1 to 4/5+++ This is not an invitation to invest. ICOs are risky and you can lose everything you put in.
Rated on 2018-08-18
"We are building infrastructure, where each lender will be able to build their own white label depository platform for accepting all types of crypto assets (currencies and tokens) as collateral for loans." I think its a very interesting approach, looking forward to product development. This rating was based on the information available at the time of the evaluation. This is not a recommendation to invest in this or any other ICO. Please do your own research.
Rated on 2018-08-24
Good team and detailed white paper but it seems to me yet another (solution) platform for P2P lending platform. Couldn't find competition analysis so It would nice to have it to prove they are "The World’s First Decentralized Multi-Platform Collateral Infrastructure". Tried to find username / password for MVP but couldn't get it neither able to create an account! [Update] Team++ Vision-- Team sent me MVP credentials on LinkedIn. Tested it on Ethereum test-net. Looks good. [Correction] The platform provides only collateral solution for lenders which narrow down the scope of the product! Why would borrowers needs Blockchain to put assets for loans? There are many crypto collateral solutions out there!
Rated on 2018-08-24
The team and advisory board is strong, though competitive analysis is needed. The project has a strong vision, it’s way ahead of its time. The whitepaper is detailed. I am eagerly waiting for the project MVP. Update: I have received the MVP from Depository Network, the UI is simple and easy to use. I wish long-lasting success to the team.
Rated on 2018-09-12
Team looks experienced enough to execute a project of this level, but they are not the only ones competing in the B2B lending against crypto space. It will take some time before cryptos are stable enough to be recognized as collateral against fiat.
Rated on 2018-09-22
The idea is good in principle but the way the Whitepaper positions the product is not clear enough. For example the "Depo Smart Contract" makes Depo the middleman, it does not remove but adds players to a lenders process. I believe what they mean to say on P10 item 6 of the paper is 2 not 3 signatories. The paper should focus on Depo as a Blockchain Escrow service for traditional lenders wishing to accept crypto assets as collateral. I'm not sure there is enough international lending/banking experience in the team, especially from the core NBFI's that would be the main market for the solution. The Whitepaper is not detailed enough with regards to the problems, solutions or the underlying technology.
Rated on 2018-09-24
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Team Formation, Preparations.
First Prototype DEPO.
Private and Public Pre-sale, ICO.
Alpha Release DEPO.
Beta Release DEPO.
Official Launch of DEPO.
Users: 10 P2P lending platforms and 50 non-bank lending institutions.
Users: 50 P2P lending platfirms, 100 banks and 500 non-bank lending platforms.
Users: 800 banks and 1500 non-bank lending institutions.