Crypto investment platform Republic will list its profit-sharing digital asset, the Republic Note, on the Avalanche Blockchain via the US-regulated trading platform INX.

The Note listing will be available to KYC’ed non-accredited and accredited investors worldwide on Dec. 6.

According to David Shack, the head of marketing at Republic, the Republic Note is backed by over 750 private companies and assets in Republic’s portfolio, including SpaceX, Dapper Labs and Klarna, just to name a few.

“This means that companies that have raised capital on Republic’s retail investment platform or from Republic Capital (our venture arm) become part of the Note portfolio,” Shack said.

Any users who purchase the Republic Note are entitled to hold a share of the dividend pool that grows when a Republic portfolio company has a profitable exit event.

Aside from financial incentives, Republic Note holders will also have access to community benefits, Shack said.

“Earlier this month, we held a Note-gated community-only event at Republic’s NYC HQ office, and there are plans for other Note-gated experiences at events like SXSW, ETH Denver, etc,” he said.

The Note has received over $30 million in pre-sale participation from early investors and users, including Naspers, Binance, and the Avalanche Foundation’s Vista program. Beyond the pre-sale round, an open round with limited availabilities was also open to early Republic users, where an estimated 5,000 investors have already participated.

What’s next?

Shack explains that its decision to launch the Republic Note on Avalanche is aligned with the company’s technical strategy, noting that the company continues to hold a close relationship with Algorand, but Avalanche’s flexibility and customization were necessary for taking the Note to the “next phase of growth” — including a specified subnet that is planned for next year.

“This step was focused on enhancing the asset’s scalability as the global community of Note-holders grows and its adaptability to and compliance with a dynamic regulatory environment,” he said.

The Note will be the blueprint for Republic as it continues to look into providing ways for companies and institutions to integrate blockchain technology into their business models, Shack explains.

“Republic has always been committed to unlocking private markets, making them accessible to everyone, everywhere,” he said.

Read the full article here

Share.

Leave A Reply

Your road to financial

freedom starts here

With our platform as your starting point, you can confidently navigate the path to financial independence and embrace a brighter future.

Registered address:

First Floor, SVG Teachers Credit Union Uptown Building, Kingstown, St. Vincent and the Grenadines

CFDs are complex instruments and have a high risk of loss due to leverage and are not recommended for the general public. Before trading, consider your level of experience, relevant knowledge, and investment objectives and seek financial advice. Vittaverse does not accept clients from OFAC sanctioned jurisdictions. Also, read our legal documents and make sure you fully understand the risks involved before making any trading decision

Exit mobile version