Republic chose the Avalanche Blockchain for its Republic Note token
Republic aims to leverage Avalanche's features for global expansion. Republic Note has already attracted over $30 million in pre-sale participation. The move could help stop AVAX's current price slide.
Investment platform Republic has chosen Avalanche as the blockchain for its Republic Note token.
The move is part of Republic's strategic vision to leverage Avalanche's strengths for global expansion.
What is Republic Note?
Republic Note allows investors to earn income from a diverse portfolio of over 750 private assets. The digital asset, which has not yet been distributed to the network, has received strong interest from private and institutional investors with over $30 million in pre-sale participation.
Republic President Andrew Durge highlighted Avalanche's role in providing Republic Note with the foundation it needs to reach a global investor audience. The choice of Avalanche is strategic, considering its internal characteristics, including the ability to set up controlled subnets. These subnets, with highly customizable sidechains, play a critical role in facilitating regulatory compliance related to digital security.
Republic's profit sharing approach
Republic Note is designed to share profits from Republic's extensive venture portfolio with investors. With an emphasis on a profit sharing model, it plans to distribute up to 25% of the dividend pool to token holders.
In the pre-sale round, the token price is $0.36 and the total supply has reached 800 million.
Value for AVAX can be increased
Republic's move to launch Republic Note on Avalanche may have implications for the price of AVAX. The strategic partnership between Republic and Ava Labs and Republic Note's unique profit-sharing model could instill confidence in AVAX investors, which could reduce further price declines.
AVAX fell to a low of $20.18 today, losing more than 10% before the Republic Note announcement. After the announcement, the price recovered about 3%, the price rose to $ 20.52 at press time.
