Republic Cryptocurrency, a fintech startup, has opted to launch its Republic Note (R/Note) security token on Avalanche’s blockchain. This digital asset represents a tokenized stablecoin profit-sharing security between investors taking part in the company’s deal portfolio.
How Republic Note Works on Avalanche
The new R/Note will be the vehicle through which Republic will distribute stablecoin dividends to investors who have participated in the company’s deal investment portfolio. The profit-generating portfolio sees the company’s deal investment in more than 750 private assets. Republic’s profit-share security token will be listed in a few months, having already attracted over $30 Million in “presale” from thousands of individual and institutional investors. The Republic Note is as of now priced at $0.36, with between $300 Million and $350 Million distributed during a presale round, and the total supply of Republic Note tokens will be 800 Million. Andrew Durgee, the president of Republic, stated, “With Avalanche (AVAX), the Republic Note is getting the foundation it needs to reach and scale with a worldwide audience of investors.”
The Price of AVAX
In the past 7 days, the price of Avalanche (AVAX) has increased by +23%, reaching $22.40 at the time of publication, with a total market cap approaching $8 billion. On the day of the latest information regarding Republic Note’s security token, Avalanche (AVAX) reached as high as $24.51. In late October, the wstETH cryptocurrency asset from the Lido ecological system was brought to Avalanche’s blockchain with the assistance of the Layer Zero interoperability platform when Avalanche (AVAX) was worth $11.
Hot Take: Avalanche (AVAX) Empowers Republic’s Profit-Sharing Token
Republic Crypto’s decision to launch the Republic Note (R/Note) security token on Avalanche’s blockchain exemplifies the increasing support for innovation in the cryptocurrency sphere. With the promising rise of Avalanche (AVAX) and the substantial interest garnered in the presale phase, it’s evident that investors are eager to explore new doors for profit-sharing security tokens.
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