In a groundbreaking move, the neo-investment and technology company Republic is set to release the Republic Note, a unique blockchain-based security token. This innovative digital asset is designed for profit-sharing and will be powered by the Avalanche blockchain, marking a significant step in financial technology.
The Republic Note stands out as a profit-sharing digital asset. It leverages the extensive investment portfolio of Republic, which encompasses a diverse range of ventures, including notable Web3 firms like Avalanche, DappRadar, and Dapper Labs. To date, Republic’s dynamic portfolio has attracted over three million investors, with an impressive $2.6 billion deployed in various projects.
In preparation for the launch, Republic successfully completed a presale round of the Republic Note, raising over $30 million from both individual and institutional investors. A unique aspect of the Republic Note is its dividend distribution method. When the dividend pool hits a $2 million threshold, dividends will be paid out to retail investors in USD Coin (USDC), offering a tangible reward for their investment.
Adding to its innovation, Republic has developed a specialized Web3 self-custodial, cross-chain wallet. This wallet will facilitate the distribution of dividends to Republic Note holders. In a departure from typical cryptocurrency tokens, Republic Notes will not be tradeable digital assets. Instead, they are poised to be listed on selected securities exchanges within the next two to three months, adding a layer of legitimacy and accessibility to the investment.
The choice of Avalanche as the blockchain platform for the Republic Note was a strategic decision. Republic President Andrew Durgee emphasized that this decision was influenced by the company’s aim to engage a broad spectrum of Web3 native investors, aligning with Ava Labs to foster more inclusive financial markets.
The Republic Note has been in development since 2016, with its white paper first published that year. The digital securities offering has been audited by Quantstamp, ensuring its credibility and security. Upon launch, the price of a single Republic Note is set at $0.36, with an initial circulation of 330 to 350 million notes and a maximum supply cap of 800 million.
This venture represents a significant advancement in the realm of digital securities, combining the benefits of blockchain technology with a tangible investment opportunity for retail investors.
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