Depository Network DEPO – The Infrastructure Needed for Modern Financial Markets
As seen on… ICO Bench.
“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.”
Nikolay Zvezdin, CIO at Envinary – efficient financial and strategic advisory services company, which provides asset management advisory, investment banking advisory, restructuring and business valuation services with global reach.
We are really honored when people from the industry take the time to go deeper into DEPO concept and send feedback and ideas.
What is DEPO?
Depository Network DEPO is a digital platform, through which lenders and borrowers worldwide could create collateral and start using blockchain assets as a guarantee for loans.
What is collateral?
The simplest example of collateral is mortgage for house. Under the same principle DEPO allows the token to be locked in multisignature wallet, which is under the control of DEPO. Neither the creditor nor the debtor could touch the token without the approval of DEPO. Of course, all related loan conditions are set in the smart contract.
How is DEPO different?
DEPO aims to provide through its depository infrastructure an integrated set of services to P2P lending platforms, banks, credit institutions and borrowers. The platform shall provide not only independent multisignature wallet technology for locking the tokens and thus creating the collateral but also secure and independent enforcement procedure in case of non-performance by the debtor, giving equal protection of creditors’ and debtors’ rights. Last but not least it shall secure arbitrage interaction for fast and legitimate case settlement.
The advantages of DEPO were also revealed by The Merkle confirming that Depository Network could be viewed as the natural evolution away from projects like SALT and ETHLend, as it can provide a truly secure, decentralized crypto asset collateral system, upon which ecosystem of platforms and financial services could be build and provided.
Do you know any other platform like this? The answer is simple – NO.
DEPO is not a short-term project. It provides a solution for unlocking market cap of billions of USD in cryptocurrency alone. But what’s more, it protects the interests and the rights of both lending institutions and customers.