Last Updated on August 24, 2018 by CryptoCreed
DEPOSITORY NETWORK ICO AND PROJECT DETAILS
Depository Network is the number one in the multi-platform network enables lenders to acknowledge digital assets as security.
The ascent of the Internet in the course of recent years has introduced another type of assets (Depository): A digital asset is anything that exists in a binary configuration & incorporates use rights. In the plain terms, digital assets incorporate assets, for example:
- Asset Tokens
- Tokenized Shares
- Digital Bonds
In the crypto world, we do believe that cryptocurrencies, asset tokens, computerized corporate & government bonds are fabulous assets. After the ascent of Bitcoin, blockchain technology pulled in numerous supporters across the globe. Blockchain technologies started to disturb numerous enterprises by making investable new computerized resources over a range of uses, a large number of which are still being worked on or presently can’t seem to be made. Within the most recent couple of years, these all around exchanged resources or traded assets have seen an enormous increment in value because of their various advantages.
This frictionless market boosts & promotes permissionless innovation, worldwide access to value, decentralized control, consideration of individuals around the world, phenomenal safety efforts on the web. This is precisely the sort of early-stage environment that prompts monstrous development and appropriation.
Aside from the recently made blockchain assets, we are seeing the start of blockchain digitalization of an enormous number of advantages from the customary economy. In the not so distant future, forecasts are that every single business resource and shares, & most corporate bonds, government bonds & all inclusive exchanged subordinates will be digitized or tokenized – empowering anybody worldwide to get to them.
The Problem Statement
- Tremendous future market capitalization of blockchain digital assets
- Bolted financial value of digital assets
- Lenders can’t acknowledge digital assets as collateral
- Inefficient for lenders to make claim depositories
Decentralization: Depository Network removes the requirement for state-owned, centralized-depositories & enables any lending foundation to manufactured autonomous depositories within the system. We do give a system on which can construct unique & free Depository platforms by each certified credit or bank institutions everywhere throughout the world.
Security: To guarantee the full security of our platform we utilize cryptographically secure multi-signature wallets to store the assets, & brilliant contracts to execute the exchanges or transaction. The borrower is constantly one of the key-holders whose mark is required to play out an exchange. Keys are kept likewise by the lender & DEPO with the goal that none of the group can follow up on its own attentiveness. Three to five multi-signature wallets will be utilized relying upon the measure of collateral.
Below are the two types of collateral smart contracts:
DEPO Smart Contract: With no middleman, it will be completely incorporated with the lender’s API & will be activated by an event, for example, a payment, missed installment, contract termination, and so forth. It will be made for assets issued on platforms, for example, Etherium, EOS, Cardano, Qtum, Lisk, Aeturnity & others broad smart contracts.
DEPO Escrow Contract: This is great locked with minimum three signatures – one for a lender, one for moneylender, one for DEPO. The DEPO collateral contracts will be utilized for digital assets without any smart contract support attached to it.
To acquire the assets to needed to set up the Depository Network, we are launching a token sale in Q2 & Q3 2018. The aggregate supply of DEPO tokens will be 3 billion. Amid the pre-sale & public sale, the Ethereum smart contract will be issued on the Ethereum Network.
Funds raised amid the ICO will be utilized for development, promoting, legal & different costs required for the development & support of the system. 35% of costs will be utilized for product development to construct a safe and adaptable system. Legal & regulatory costs will be 15% of funds & will be utilized to adjust the system to conform to the world’s major legitimate platform.
DEPO Token specification and ICO details:
Token type: ERC20
Total token supply: 3 Billion
ICO start date: 6/26/2018
ICO end date: 12/15/2018
Soft cap: 2,600,000 USD
Hard cap: 15,000,000 USD
A rate of a token (ICO): 0.01$ each token
Minimum purchase in ICO: 50$
Accepting CryptoCurrency: BTC, ETH, LTC, BCN, BTG
DEPO Token distribution details:
Token sale: 50%
DEPO reserve: 26%
Bounty, Advisor and marketing: 12%