Republic, which is a platform looking to democratize connectivity with private investments, selects Avalanche as the blockchain for introducing its profit-sharing digital asset, the Republic Note. The Republic Note will be registered for secondary market trading on the Avalanche-boosted trading platform INX.One.
Republic chose Avalanche because of its speed, upgradeability, and customization. By doing so, its objective is to expand its reach within a Subnet.
Since its inception in 2016, the Republic has built an international community of over 3 million members and invested more than $2.6 billion in a variety of private companies. The Republic Note, a digital asset supported by the Republic’s portfolio, was introduced as part of its expansion objectives.
The Republic Note is accessible to retail investors, and it collects profits from the Republic’s collection of more than 760 private assets. It then allocates them to the holder’s digital wallets in the form of stablecoins. The Republic Note has accumulated more than $30 million in pre-sales from large volumes of investors, as well as institutions and companies.
The Vista program of the Avalanche Foundation backs the Republic Note. Vista wants to speed up the growth of tokenization and its role in on-chain finance (OnFi) by exposing the potential of applying blockchain rails and the smart contract concept.
The Republic Note is expected to be tokenized and ready for secondary market trade when it goes live. According to the President of the Republic, Andrew Durgee, with the help of Avalanche, the Republic Note is receiving the opportunity to go global.
In the words of the President of Ava Labs, John Wu, Avalanche is the most viable platform for backing the introduction of Republic Note.
Republic is an international technology company coming out with a changing face of finance. The Republic ecosystem comprises a business-oriented digital merchant bank and a retail-targeted global marketplace.
The Avalanche platform is a perpetually evolving smart contract platform that speeds up the completion of transactions. The Subnet framework and HyperSDK toolkit facilitate the customized delivery of blockchain services.
Ava Labs simplifies the process of adopting highly capable solutions pertaining to Web3. Reputable computer scientists from Cornell founded the organization.