Investment platform Republic has chosen Avalanche as the blockchain for its Republic Note token. This decision is a part of Republic’s vision to leverage Avalanche’s features for global scalability.
Republic Note offers investors a chance to earn returns from a portfolio of over 750 private assets. The token has already gained significant interest, with over $30 million in pre-sale participation from both individual and institutional investors.
Andrew Durgee, President of Republic, highlighted Avalanche’s role in providing the foundation needed for Republic Note to reach a global audience of investors. Avalanche’s features, such as its ability to set up controllable subnets, play a crucial role in optimizing for regulatory compliance with digital securities.
Republic Note has a unique profit-sharing model, which allows up to 25% of the dividend pool to be distributed to token holders. The pre-sale price of the token was set at $0.36, with a total supply capped at 800 million.
The news of Republic’s move to launch Republic Note on Avalanche could potentially help to stop the current AVAX price drop. It might instill confidence in AVAX investors and help to mitigate further price declines. At press time, AVAX price had risen to $20.52, recovering approximately 3% after the Republic Note announcement.