The post Avalanche’s partnership with Republic elevates AVAX ecosystem appeared on BitcoinEthereumNews.com.

Avalanche (AVAX), the open-source blockchain platform, has recently announced a significant partnership with investment firm Republic. This collaboration has led to the creation of Republic Note, a revenue-sharing tokenized security designed to provide exposure to Republic’s diverse portfolio of investments, including prominent Web3 firms such as Avalanche itself, DappRadar, and Dapper Labs. This article explores the implications of this partnership for AVAX prices and the broader cryptocurrency market. Republic Note, as described on the company’s website, is a “digital asset backed by an evergreen private equity portfolio.” The initial price per Republic Note was set at $0.36. Before being listed on exchanges, approximately 372 million Republic Notes will be in circulation, with a total supply cap of 800 million. One of the key features of Republic Note is its dividend payout mechanism. Holders of this digital asset are entitled to receive payouts in USD Coin (USDC) from the dividend pool when it reaches a predefined threshold of $2 million. Importantly, Republic’s management has the flexibility to adjust this threshold as needed, providing a degree of adaptability to changing market conditions. Avalanche chosen as the preferred blockchain The decision to build Republic Note on the Avalanche blockchain was driven by Republic’s need for a blockchain network capable of scaling effectively to reach a global audience of investors. This strategic choice underlines Avalanche’s capabilities in terms of scalability, security, and performance. AVAX experienced a noteworthy intraday price rally, surging by 14%. This surge was triggered by the announcement that JP Morgan’s blockchain arm, Onyx, had partnered with Apollo Global to launch a proof-of-concept on the Avalanche blockchain. Such high-profile collaborations are often seen as an endorsement of a blockchain’s technology and can generate increased interest and investment. However, despite the positive news surrounding Republic Note and the earlier partnership with JP Morgan,…

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Filed under: News - @ November 18, 2023 4:08 pm