Republic Note will start issuing the Note for vested individuals, according to an email distributed by Republic. Republic Notes are securities, and recipients may have to pay taxes on the value of the Notes received.
Investors in Republic Note receive a pro-rata share of distributions once the pool hits $2 million. Republic has yet to hit the $2 million mark.
Republic Note is a digital asset that references Republic’s operations and its shares of returns generated by issuers on the platform. Republic Note investors can participate in the capital gains, and the asset is traded on INX; thus, it provides a level of liquidity for investors. The ask is currently $0.18 per Note. Recipients of the Notes will have the option to trade them.
A Republic account and Republic Wallet will be required in the opt-in process to claim your Republic Notes.
Republilc shares that the price per Note will be fixed at the Note’s median trading price on INX the day before distribution starts. This exact price will be confirmed in the opt-in email.
The total and vested Republic Note amounts are expected to be communicated on February 8, 2024.
If individual investors have questions, Republic is encouraging them to reach out to the platform.
[Editors Note: a previous version of this article indicated that a distribution was to be made. Republic is only issuing Notes to vested individuals and no distribution of funds will be made]
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