In less than one week, Republic, a crypto issuance and investment crowdfunding platform, has reportedly distributed over 1.8 million Note digital tokens. Note tokens were first revealed in March when it was revealed that Republic had acquired RenGen Labs (previously dba as SaftLaunch),
Republic’s Note tokens are designed to rewards users, investors, and partners for activities taken on the Republic platform.
Rebublic explained in an email:
“The Note is our way of thanking Republic’s earliest believers — especially our community of investors and partners. It is our hope to mobilize millions more to back and support founders on Republic, and the Note plays an important role in rewarding new investments and aligning incentives between founders and backers.
We’re very excited by the initial response. We saw 30x the usual volume in signups, especially through friend referrals. We’ve granted over 1.8M Notes to new and existing users. We were also featured in the Wall Street Journal and several other media stories.”
Republic said that for a limited time they are offering 2x the rewards for actions on the platform.
Crowdfund Insider reported that Republic intends on issuing Note under the Reg A+ securities exemption. Under this rule, an issuer may raise up to $50 million in securities issuance.
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