Depository Network: The decentralized multi-platform collateral network
Turnkey solution for lenders
CEO & Co-Founder
Law firm Penkov, Markov & Partners - Managing Partner
Bulgarian Telecommunication Company AG -
Former member of the Supervisory Board
Svetoslav is an eminent legal professional with more than 15 years of experience, the latter of which as Managing Partner of one of the top Bulgarian law firms, Penkov, Markov & Partners. During his career, he led different NGOs in the IT and TMT area and was a member of the Supervisory Board of one of the biggest and oldest telecoms in Bulgaria, Bulgarian Telecommunication Company. But most importantly, he has always been looking for an opportunity to innovate traditional legal institutions, such as collateral, and implement them in the digital world. Depository Network is a dream come true for him.
Technology Board Member and Investor
VMware (NYSE:VMW) - Director and ISBU site lead
Sciant/WizCom (acquired by VMware) - Managing partner
Organizational leader with 20+ years in management and executive roles in the IT industry, enterprise companies and startups. He has a wealth of experience in establishing and optimizing distributed Product R&D organizations. Currently a Director and ISBU site lead at
VMware (NYSE:VMW), previously he served as CEO of Methodia Ltd, a cloud services startup and as Managing partner at Sciant/WizCom, Bulgaria’s largest outsourcing company at the time, acquired by VMware.
Technology Board Member
Bitcoin Gold - Co-Founder and Board Member
NASA Space Apps Challenge Competitions 2015 -
Winner as Leader of Porject “Valkirye”
Martin is one of the co-founders of Bitcoin Gold. He has vast experience in iOS development, Swift lecturer in Software University, winner of NASA Space Apps Challenge Competitions and John Atanasov award.
Co-Founder & Chief Strategy Officer
Court of Arbitration of Commercial Disputes - Co-Founder and Board Member
EJN at the European Commission - Representative Bulgarian Chamber of PEA
Co-founder of the Court of Arbitration of Commercial Disputes in Burgas, and a former board member of the Bulgarian chamber of private enforcement agents. Deliyan is currently serving as a representative of the Bulgarian chamber in the European judicial network at the European Commission. He has invested in a number of fintech startups over the past three years.
Co-Founder & Business Development
White & Case - Former Director of European Trade Servises Forton International (acquired by Cushman & Wakefield) - Managing partner and Board Member Serial investor with profound experience in deal sourcing and structuring, investment management and venture building. He has invested and built over 15 successful businesses in IT, professional services, financial services, energy, automotive, real estate, telecoms, and entertainment.
Banca Transilvania - Member of the Board of Directors
Depository Network - Co-Fonder
Paynetics - Chairman
For the past 25 years, Ivo has worked as an investor and entrepreneur in Central and Eastern Europe. Over the last four years, he has co-founded or invested in a number of technology startups, mostly in the ﬁntech sector. From 2001 to 2011, he served as co-founder and board chairman of TBIF Financial Services.
International Monetary Fund - Advisor Legal Reform
World Bank Group - Team Leader and Key Expert
European Commission - Legal and Institutional Building
Jos has 15 years experience as international adviser, Rule of law projects, legal reform projects, legal drafting, EU acquis, human rights, regional cooperation. He is senior expert with proven professional experience in particular civil justice, court administration, judicial reform, justice administration, reinforcement of the rule of law, human rights, capacity and institution building, enforcement law, ethics, disciplinary proceedings, E justice, Institution building.
J.P. Morgan - Senior Associate
Waqas has been an application developer for 10+ years, he is passionate about blockchain and has spent the past year working with the technology both professionally and academically. He has a BSc in Computer Science and a MSc in Financial Systems Engineering. He has worked on ethereum and fabric with the intention of working with more.
KPMG - Audit Manager
Ernst & Young (EY) - Senior Auditor Manager
Cryptocurrency Tax Adviser
Filip is a registered statutory auditor in UK, with extensive accounting and audit experience in industry and with major audit firms in London. He has audited big commercial and financial clients. Filip writes articles on accounting for cryptocurrencies. Fillip has worked for KPMG 2 years as audit manager, for E&Y 3 years as senior audit manager and for Grand Thornton UK 5 years as senior audit manager.
Business Development & Strategy
Kapil has been working as Global Infrastructure Manager and Technology Transformation executive for more than 20 years. He has extensive technical and management experience in large globally distributed Investment Banking and consulting environments. He specialises in Technical and Business strategy for financial services. Kapil holds an MBA from Cass Business School – London with specialisation in Strategy and corporate finance. He is also author of 4 Linux books and Blockchain articles on DCC blog.
- Crowdsale (50%)
- Reserve (26%)
- Team and Founders (12%)
- Advisors, Bounty, Airdrop and Marketing (12%)
- Product Development (35%)
- Marketing and Sales (35%)
- Legal & Administrative (15%)
- Exchange Listing (10%)
- Reserve (5%)
Cost of the token1 token for 0.02 $
Price without discounts
- Bitcoin Cash
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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
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?
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.
Is the airdrop still ongoing?
The first and second airdrop have already ended. Stay tunned for the next one..
When will I receive my airdrop tokens?
Airdrop tokens can be claimed after 18.10.2018.
Do you have a bounty running?
Yes, you can check it here: https://bountyhive.io/browse/Depository%20Network
Where can I put my ethereum address for receiving the airdrop tokens?
There will be instructions published for claiming airdrop tokens.
Is there going to be a second airdrop and when? Can everybody participate in it?
Yes, next airdrop begins on 16 July and everybody is eligible to join.
Is there a referral bonuses for the airdrop?
No, referral bonuses are offered only for token sale.
Is KYC required?
KYC is required only for token sale above $100. It is not required for claiming airdrop tokens.
It says 0 claimed tokens in my token balance on my dashboard. Why?
It is because the tokens are in your account, but you still have not claimed them.
Do I need to do all the tasks to get tokens?
You can do whichever tasks you like. The more tasks you do, the more DEPO tokens you are going to earn.
How much are 2500 DEPO tokens worth?
2500 DEPO tokens are worth 50 USD.
It shows 2500 claimed tokens but I have not received anything in my wallet.
You have probably made an order without actually claiming the tokens. Go to “Buy tokens and there should be a button “Claim my tokens”.
It’s been more than 24 hours since I have claimed my tokens. I have still not received them in my wallet.
The ethereum network is running pretty slowly as there are many transactions on queue. You might need to wait for some time for the tokens to arrive in your wallet.
What is the price of 1 token?
The price of 1 DEPO token is 0.02 USD
When does the token sale end?
Token sale ends on 15.12.2018.
When can we exchange DEPO?
The DEPO token will be listed on multiple exchanges after the token sale.
What is the maximum token supply?
Maximum token supply is 3 billion tokens.
How many tokens will there be offered for sale during the token sale?
50% of the tokens (1.5 billion tokens).
Where is the main office (headquarter) situated?