Republic Selects Avalanche for its Profit-Sharing Note, Gains Vista Support
Republic Selects Avalanche for its Profit-Sharing Note, Gains Vista Support
Nov 30, 2023 / By Avalanche / 4 Minute Read
The speed, scalability, and customizability of Avalanche will power another project on the frontier of tokenization
Republic, a platform seeking to democratize access to private investments, has chosen Avalanche as the blockchain to launch its novel profit-sharing digital asset, the Republic Note. In addition to launching, the Republic Note is also set to be listed for secondary market trading on the Avalanche-powered trading platform INX.One on December 6, 2023.
Republic selected Avalanche for its speed, scalability, and customizability, and plans to expand its footprint to a dedicated Subnet next year.
Since its inception in 2016, Republic has empowered a global community of over 3 million members to deploy over $2.6 billion into a diverse range of privately held ventures. To further broaden access to these high-growth companies, in 2018 Republic announced its plans to create the Republic Note, a digital asset backed by Republic's portfolio.
Available to retail investors globally at low minimums, the Republic Note accrues profits generated by Republic’s portfolio of 760+ private assets and distributes them to holders' digital wallets in stablecoins. The Republic Note has garnered over $30 million in pre-sale participation from thousands of individual investors, institutions, and organizations.
The Avalanche Foundation’s Vista program is proud to support the Republic Note as one of the many investors. Vista aims to accelerate the growth of tokenization and its role in on-chain finance (“OnFi”) by demonstrating the merits of applying blockchain rails and smart contract logic to historically more manual, operationally-intensive, and opaque parts of the asset management lifecycle.
With the December 6 launch on INX.One via Avalanche, the Republic Note will go fully live in tokenized form and primed for secondary market trading.
“With Avalanche, the Republic Note is getting the foundation it needs to reach and scale with a global audience of investors,” said Andrew Durgee, President of Republic. “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.”
“Avalanche is the ideal platform to support the Republic Note's exciting launch,” said John Wu, President of Ava Labs. “Ava Labs’ collaboration with Republic showcases mutual commitment to developing innovative digital financial products. 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.”
For more on the Republic Note and its listing on INX.One via Avalanche, visit here. If you are with an institution and want to learn about the possibilities of tokenization and powering the next generation of finance on Avalanche, reach out here.
About Republic
Republic is a global technology firm pioneering the digital transformation of finance. The Republic ecosystem is composed of an enterprise-focused Digital Merchant Bank and a retail-focused Global Marketplace. Republic has made it possible for 3+ million community members across 150+ countries to deploy $2.6+ billion into thousands of private ventures. Backed by Valor Equity Partners, Galaxy Interactive, Morgan Stanley, Hashed, AngelList, and other leading institutions, Republic is headquartered in New York City and has established operations in the US, UK, UAE, and South Korea.
Republic: Website | Twitter | LinkedIn
Republic Note: Website | Twitter
About Avalanche
Avalanche is an ultra-fast, low-latency blockchain platform designed for builders who need high performance at scale. The network’s architecture allows for the creation of sovereign, efficient and fully interoperable public and private layer 1 (L1) blockchains which leverage the Avalanche Consensus Mechanism to achieve high throughput and near-instant transaction finality. The ease and speed of launching an L1, and the breadth of architectural customization choices, make Avalanche the perfect environment for a composable multi-chain future.
Supported by a global community of developers and validators, Avalanche offers a fast, low-cost environment for building decentralized applications (dApps). With its combination of speed, flexibility, and scalability, Avalanche is the platform of choice for innovators pushing the boundaries of blockchain technology.
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About Ava Labs
Ava Labs makes it simple to deploy high-performance solutions for Web3, led by innovations on Avalanche. The company was founded by Cornell computer scientists, who partnered with Wall Street veterans and early Web3 leaders to execute a promising vision for redefining the way people build and use open, permissionless networks. Ava Labs is redefining the way people create value with Web3.
