Next-generation investment and technology firm Republic has announced plans to issue its upcoming digital asset on the Avalanche blockchain network.
Called Republic Note, the digital asset will serve as a form of dividend payout for investors who tap into the extensive portfolio of the Republic investment infrastructure.
Providing more context on a tweet on X (formerly Twitter), the firm stated that Republic Note is its flagship investment product.
With this dividend-paying digital token, users will be able to access its 750+ private equity portfolio.
We’re excited to announce that Republic Note will be launching on @avax.
This is a major milestone that marks the final leap before the Note’s market listing.
If you’re new:
Republic’s flagship investment product — the Republic Note — is a novel, dividend-paying… pic.twitter.com/yTnyXcS11y
— Republic Note (@republicnote) November 17, 2023
Currently on offer for $0.36, the Republic Note boasts over $900,000 in its dividend pool size. Dividends are expected to be shared using Circle’s USDC stablecoin once it hits the $2 million threshold.
Furthermore, the digital token secured over $30 million from both private and institutional investors in the early days of its launch. 290,000 plus community members are currently signed up for the crypto-based program when it fully enters the market.
Once the digital token begins trading, users will have access to a maximum token supply of 800 million of the blockchain-based security tokens. For now, about 372 million of these digital tokens are currently in circulation.
Although the Avalanche network does not enjoy the industry-wide fame of the Ethereum protocol, the layer-1 blockchain protocol has unique benefits, as the Republic technologyRead more on cryptonews.com