Republic, a tech company leading the transition to digital finance, has selected Avalanche as the blockchain through which it will launch its profit-sharing digital asset, the Republic Note. Republic says it made the decision to launch on Avalanche due to blockchain’s scalability, speed, and customisability. In addition, Republic will launch a dedicated Subnet in 2024.
Avalanche has established itself as a leading platform for the deployment of smart contracts. This is strengthened by its high scalability and ability to execute transactions in under one second. Furthermore, it boasts of an impressive security backbone, with 1,400 validators and hundreds of millions of dollars in value protected. Republic says that Avalanche’s high throughput and impeccable security record make it the perfect platform for launching the Republic Note.
Republic Note is an asset that accumulates profits generated from Republic’s portfolio of 750+ private assets. These profits are then distributed to Republic Note holders’ digital wallets in the form of stablecoins. It is available for purchase by retail investors globally at low minimums. Republic Note has proven a success, with thousands of individual investors and institutions having purchased over $30 million worth of it during its presale.
Republic and Ava Labs, the company behind the Avalanche network, have teamed up to lead the race in driving innovation around tokenization. Ava Labs is on a mission to expand the tokenised asset ecosystem, using Avalanche as the launchpad. The partnership between Ava Labs and Republic demonstrates both companies’ dedication to transforming digital finance technology.
The two companies’ relationship goes back to the early days when Avalanche was just getting started as network dedicated to digitisation of assets. Republic Capital, through its R/Crypto Fund, and other investors contributed to AVAX’s $230 million private token sale in 2021. Other major contributors included Polychain and Three Arrows Capital.
Many agree that tokenization, when coupled with blockchain and smart contract logic, holds the promise to democratise investment access while lowering transaction costs. This will likely result in greater transparency and boost efficiency across the asset management value chain. The partnership between Avalanche and Republic comes at a pivotal time, as the tokenization market is expected to grow to tens of trillions of dollars this decade.
This post was last modified on Nov 17, 2023, 16:00 GMT 16:00