Crypto investment platform Republic will list its profit-sharing digital asset, the Republic Note, on the Avalanche Blockchain via US-regulated trading platform INX.
The Note listing will be available globally to KYC-accredited and accredited investors on December 6.
According to David Shack, chief marketing officer at Republic, the Republic Note is backed by more than 750 private companies and assets in Republic’s portfolio, including SpaceX, Dapper Labs and Klarna, to name a few.
“This means that companies that have raised capital on Republic’s retail investment platform or from Republic Capital (our venture capital arm) will become part of the Note portfolio,” Shack said.
All users who purchase the Republic Note are entitled to keep a portion of the dividend pool that grows when a Republic portfolio company has a profitable exit event.
In addition to 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 headquarters, and there are plans for other Note-gated experiences at events like SXSW, ETH Denver, etc.,” he said.
The Note has received more than $30 million in pre-sale participation from early investors and users including Naspers, Binance and the Avalanche Foundation’s Vista program. In addition to the pre-sale round, there was also an open round with limited availability for early Republic users, in which an estimated 5,000 investors have already participated.
What’s next?
Shack explains that its decision to launch the Republic Note on Avalanche is in line with the company’s technical strategy, noting that the company continues to maintain a close relationship with Algorand, but that Avalanche’s flexibility and customization were necessary to take the Note to the “next phase of development”. growth” – including a specific subnet planned for next year.
“This move was aimed at improving the asset’s scalability as the global Noteholder community grows, and its adaptability and compliance to a dynamic regulatory environment,” he said.
The Note will be the blueprint for Republic as it continues to look for ways for companies and institutions to integrate blockchain technology into their business models, Shack explained.
“The Republic has always been committed to unlocking private markets, making them accessible to everyone, everywhere,” he said.