Republic, a US based crowdfunding platform that utilizes the Reg CF exemption, says it had a gang-buster week – one of their biggest ever. Activity was driven in part due to their second crypto offer – Witnet. that easily hit the max amount allowable.
Witnet is protocol that connects smart contracts to any online data source. Think sports results, stock prices, weather forecasts or even other Blockchains. A Swiss army like distributed ledger tech. Witnet launched its crypto crowdfunding round and it took just 4 days to tap out at the $1.07 million Reg CF funding cap.
Witnet will be issuing a Token DPA or Debt Payable by Asset. This DPA is the creation of the Republic team and is an equity crowdfunding-specific security created said to better protect participants while opening up a new market for Blockchain companies. Under Reg CF, both accredited and non-accredited investors may participate in the investment opportunity.
Witnet easily captured 864 investors to fill the funding round. If you are still interested, there is a waiting list and most platforms will typically migrate some investors to a Reg D offering to facilitate demand – if they are accredited. This work around helps to raise the money early stage companies actually need and not the short sighted and arbitrary cap of $1.07 million.
Witnet follows the first crypto offering Republic listed in December. Props co-listed on Coinlist and the offer on Republic sold out immediately.
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