Next-generation investment and tech firm Republic has unveiled plans to release its forthcoming digital asset on the Avalanche blockchain network. Termed Republic Note, this digital asset will function as a dividend distribution for investors engaging with Republic’s extensive investment infrastructure portfolio.

In a tweet on X (previously Twitter), the company clarified that Republic Note stands as its flagship investment offering. This dividend-yielding digital token allows users entry to its diverse 750+ private equity portfolio.

Currently priced at $0.36, Republic Note boasts a dividend pool exceeding $900,000. Dividends will be disbursed in Circle’s USDC stablecoin once the pool hits $2 million.

Moreover, this digital token garnered over $30 million from early-stage backing by both private and institutional investors. Over 290,000 community members have enrolled in the crypto program ahead of its full market launch.

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Upon commencement of trading, users will have access to a maximum token supply of 800 million blockchain-based security tokens. Presently, approximately 372 million of these tokens are in circulation.

However, despite not sharing Ethereum’s widespread acclaim, Republic highlighted the unique advantages of the layer-1 blockchain protocol. Avalanche is recognized for its exceptional scale and speed, holding the record for the fastest blockchain protocol in block-to-finality throughput.

Furthermore, Republic emphasized the flexibility and eco-friendliness afforded by the blockchain, citing these as key factors in its decision-making. The protocol’s upcoming launch of a dedicated subnet for the Note token in 2024 played a pivotal role in choosing Avalanche over Ethereum.

Republic’s President, Andrew Durgee, argued that the partnership extends beyond surface-level considerations. It aligns with the firm’s long-term vision of establishing inclusive financial markets for diverse investor profiles, with the blockchain aligning well with this vision.

Republic Note, while operating on distributed ledger technology, distinguishes itself from regular crypto assets like Bitcoin. It won’t be subject to speculation on typical crypto exchanges but will be deployed on specific platforms.

Republic Note’s Launch on INX and Strategic Market Entry Alongside Industry Leaders

Republic Note is set to launch on INX, a US-regulated secondary trading platform for decentralized assets, though a definitive public market date is yet to be specified. The platform token is anticipated to debut on INX and other specialized securities exchanges within the next two to three months, realizing its overarching vision.

Additionally, Republic Note enters the realm alongside industry heavyweights like Blockstream ASIC Note (BASIC), which made its public debut in August this year through collaboration with Luxembourg-based STOKR.

Similar to other securities tokens, Republic Note grants users access to digital securities payable in Bitcoin. These digital securities are consolidated to acquire ASIC mining machines for generating new Bitcoin.

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