Republic Harnesses Avalanche to Launch its Digital Asset ‘Republic Note’
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Republic has selected Avalanche as its blockchain platform for launching its profit-sharing digital asset, Republic Note.
Technology firm Republic today announced that it has chosen the Avalanche blockchain to launch its innovative profit-sharing digital asset, Republic Note. The strategic move by Republic will capitalize on Avalanche’s superior capabilities in scalability, speed and customizability.
The company said it plans to further expand into a dedicated Subnet in the coming year.
Accessible globally to retail investors at low entry points, Republic asserts that its new digital asset Note represents a new paradigm in investment. It accumulates profits from the company’s extensive portfolio of over 750 private assets and distributes earnings directly to holders in Stablecoins.
The unique digital asset has already garnered significant attention, securing over $30 million in pre-sale investments. The investors comprise a diverse group of individuals and institutions.
“With Avalanche, the Republic Note is getting the foundation it needs to reach and scale with a global audience of investors. Choosing Avalanche goes far beyond the network’s strength, scale, and speed—it solidifies our longstanding partnership with Ava Labs, built on a shared vision of more inclusive financial markets,” said Andrew Durgee, Republic’s President, in a written statement.
Republic’s Commitment to Inclusive Investing
Since its establishment in 2016, Republic has seemingly influenced the private investment landscape. The company said it boasts a robust community of over 3 million members who have collectively invested over $2.6 billion in various private ventures, including well-known names like Axiom Space, Dapper Labs and Carta.
Republic Note was conceived in 2018, and the digital asset encapsulates the company’s commitment to making high-growth company investments more accessible.
Both Republic and Ava Labs — the driving force behind Avalanche, are leading innovators in the field of tokenization. This market is projected to expand into the trillions in the coming years.
The collaboration underscores the transformative potential of blockchain and smart contracts. These technologies democratize investment access, enhance transparency and optimize the asset management process.
Avalanche’s Blockchain Potential
Launched in 2020, Avalanche was an instant hit in the blockchain industry with its near-instant transaction finality. The platform hosts numerous applications and holds significant market value with support from over 1,400 validators. It claims to have achieved the feat with minimal environmental impact, aiming to set a new standard for blockchain efficiency and eco-friendliness.
John Wu, President of Ava Labs emphasized Avalanche’s suitability for the Republic Note’s launch and the shared vision of Ava Labs and Republic in creating innovative digital financial products.
“Avalanche is the ideal platform to support the Republic Note’s exciting launch. Ava Labs’ collaboration with Republic showcases mutual commitment to developing innovative digital financial products,” said John Wu. “We are excited for a wider range of investors to have the chance to choose from new opportunities and anticipate a transformative era on the horizon for groundbreaking digital assets.”
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