Extract of the mix.exs file setting the deps_path attribute

mix.exs

defmodule Hello.Mixfile do
  use Mix.Project

  def project do
    [
      app: :hello,
      version: "0.0.1",
      elixir: "~> 1.4",
      elixirc_paths: elixirc_paths(Mix.env),
      compilers: [:phoenix, :gettext] ++ Mix.compilers,
      start_permanent: Mix.env == :prod,
      aliases: aliases(),
      deps: deps(),
      deps_path: "/deps" # <= This will move the deps folder to the root.
    ]
  end
  
  ...
end