CoinMarketCap takes a deep dive into DePo (DEPO), a decentralized application platform that consolidates all crypto-related experiences in one place for new and experienced users.
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How Does DePo (DEPO) Work?
DEPO uses Smart Order Routing (SOR), which is an automated approach for managing orders that aim to take advantage of the greatest available opportunity across a variety of marketplaces. Users can obtain the best possible bargain from the global cryptocurrency market when trading assets on DePo. To do this, each trade order is dispersed across many centralized and decentralized exchange markets, resulting in the best prices on a constant basis.
Current Progress of the DePo Team
In an official interview to CoinMarketCap, DePo said:
"DePo’s team of professionals has achieved an impressive track record of delivering quality products to strict deadlines & with the highest levels of security. We are continually building on this proven success to deliver on our promise - bringing together the fractured crypto market to reduce barriers to entry & facilitate genuine mass adoption. Our expert developers have several projects on the go that will be delivered over the coming month, including a fiat onramp, comprehensive portfolio dashboard, mobile-friendly dApp, bonds, revenue sharing, multi-tiered referral system, a cross-chain bridge, and NFT marketplace integration. The DePo system is constantly being enhanced to provide the intuitive and easy-to-use systems demanded by retail users, combined with the power and functionality of professional tools needed by large institutions."
The Team Behind DePo (DEPO)
DePo has a strong team of individuals from the blockchain field as well as the larger business world. The project's leaders are as follows:
TJ Dunham – CEO
TJ is the founder and CEO of DePo, and he has extensive experience in corporate management as well as a thorough grasp of both conventional and decentralized finance. He intends to make the DePo platform user-friendly, therefore paving the way for widespread crypto adoption.
George Fox – COO
George offers DePo an exceptional combination of military and commercial skills. He focuses on creating structure and organization to boost DePo's productivity and efficiency as the Chief of Operations.
Problems in the Crypto World That DePo Will Solve
There are hundreds of competing tokens emerging every day. Decentralized products, chains, and exchanges have all grown to give distinct benefits, but with their own idiosyncrasies and variable degrees of interoperability. This has created two important entrance hurdles into the crypto space:
#1. Complexities that users face while dealing with the crypto platforms
To begin, when it comes to acceptance of crypto in the masses, the first learning curve is high and plagued with not just difficulties but also the regular prospect of irrecoverable financial loss due to user mistakes.
Each token may demand a unique wallet, exchange, and staking site, each having its own set of login requirements, fees, interface of the system, and requiring many tasks across several interfaces. This presents a number of possible failure points where a user's improper action might lead to financial loss.
Because of the maze of platforms, networks, protocols, wallets, and exchanges, widespread cryptocurrency adoption remains unknown. To come on board, one must spend a large amount of time learning about technicalities.
#2. The hurdle posed by a diverse portfolio
Second, even the most experienced users can perceive cost reductions in maintaining multiple assets spanning an ever-increasing number of wallets, protocols, and chains, thus restricting the extent of their engagement and hence the overall expansion of the ecosystem.
Due to the lack of a single live portfolio overview, principles such as risk management, asset diversification, and portfolio rebalancing can be difficult to apply. This is especially difficult if a portfolio includes a variety of crypto assets such as DeFi and NFTs.
The Solution That DePo Provides
DePo seeks to combine the fragmented environment within one roof, introduce interoperability to cryptocurrency investment, and enable its users to harness the full potential of blockchain technology and DeFi. All of this will be accomplished through the use of user-friendly aggregator technology.
Aggregator technology is widely used in the travel industry, allowing it to grow to a $9 trillion business by empowering travelers through web-based platforms such as Skyscanner or Kayak that combine all information in one place and eliminate intermediaries.
DePo aspires to accomplish the same result in the crypto arena. The notion is not only technologically validated, but it is also well-known and commercially feasible. Ideally, ongoing development in cryptocurrencies has the potential to exceed the present value of the global financial industry, which is over $20 trillion, or more than double the current size of the travel industry.
Unique Features of DePo
Consolidated Multi-Market Aggregator
DePo is a unified platform that brings together all major controlled and decentralized exchanges, NFT marketplaces, and decentralized apps (dApps). Therefore, users are not compelled to manage their digital assets across several platforms.
Ease of Use
DePo employs a user-friendly and easy-to-use interface that allows you to access assets in only three clicks.
The Best Price
All CEX’s and DEX’s
DEPO auto-syncs data from over 600 cryptocurrency exchanges and 6,000 assets securely, allowing you to trade your digital assets with ease.
All NFT Marketplaces
DeFi Lending Protocol
DePo is compatible with all DeFi lending protocols and, via its smart contract, interfaces with various blockchain platforms, including Uniswap and Sushiswap. It will allow you to lend and borrow tokens using various DeFi apps all the time.
Aggregation of Liquid Assets
DePo (DEPO) Tokenomics
The total and maximum token supply of DEPO tokens is 1,000,000,000 and the current circulating supply is set at 280,000,000.00 DEPO.
DePo (DEPO) Price
DePo (DEPO) is now trading at around $0.2538 as of Jan. 14, 2021. Its 24-hour trading volume on exchanges is around $3,216,428.
The DePo (DEPO) Price Prediction and Future Outlook
The DEPO token has a 1-billion-token fixed cap and 30% of the amount is encrypted for a year in Unicrypt. This is done to demonstrate to potential investors that a long-term strategy is in place.
Furthermore, this cryptocurrency has a strong staking potential as holders of the DePo token will receive a 50% revenue share. In the near future, the project's creators hope to include a tiered referral system to increase interest through word of mouth.
However, there is a feature in the DePo ecosystem that is much more intriguing than the DEPO token. Rather than creating a new decentralized exchange, DePo has devised a method of combining the order books of several different exchanges into its own protocol. This provides investors and traders with a unified user experience that can be used across several platforms and eliminates a huge burden for investors who have multiple accounts for accessing different coins.
All of this shows potential and why it is likely that institutional investors may see the DEPO token as a long-term project with strong fundamentals.
The DePo token has surged more than 4,000% from its all-time low of $0.0056. Its current price (at the time of writing) has reached its all-time high of $0.25 and is constantly testing to break its new resistance to make a higher high. Looking at the chart, it can be seen that the price of the DEPO taken has increased gradually to reach its current level of $0.2. In the long run, this is excellent news for DEPO token holders as such consistent price-action is only seen in strong fundamental projects. While the DEPO token is looking bullish right now, the volatility of the crypto market makes everything unpredictable, and it is better to invest after consulting with crypto experts and doing your own market research.