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Republic Note token sale is live

The Republic Note token launch is live as at July 16th on a “first come first served basis” the company says.

The Republic Note is a new kind of asset that shares profits when startups and private equities that raise capital with Republic later sell or go public. The raise has an $8 million cap with a minimum buy of $100. The note price at launch is .12 cents

Accredited investors can purchase the Note token, while non-accredited investors need to wait till Republic receives a Reg A+ SEC certification. In the meantime, non-accredited investors can pre-register their interest to purchase the token once the SEC approves the Republic application.

The total token supply will be 800M tokens, while the circulation amount at the launch will be 310-370M. Republic has capped the token sale to raise a maximum of US$8M, which would equate to approximately 68M tokens. The token is built on the Algorand (ALGO) blockchain.

“Algorand offers us a strong technical solution that allows us to (i) make micro-distributions to tens and hundreds of thousands of people efficiently and securely and (ii) track identity and ownership of Republic Note in accordance with certain KYC/AML requirements,” states the Republic website.

Republic is an equity crowdfunding platform that allows non-accredited investors to invest in early-stage startups. The company was launched in July 2016 by co-founders Kendrick Nguyen, Paul Menchov, and Peter Green.

Nguyen and Menchov previously held senior roles at AngelList. Nguyen was the General Counsel, while Menchov was the Head of Venture Infrastructure. AngelList is a platform for startups, angel investors, and job-seekers looking to work at startups. AngelList’s goal is also to democratize the investment process. The company was founded in 2010 by Babak Nivi and Naval Ravikant.

Nguyen is the current Republic CEO and Green is the Chief Creative Officer, while Menchov left Republic to co-found CoinList and is currently their CTO. Menchov maintains an advisory role for Republic. Other advisors include Naval Ravikant, Kevin Harrington, and Shiza Shahid.

The platform has raised over US$12M in equity investment from investors including AngelList, Binance, FBG Capital, ZhenFund, Oyster Ventures, Meltem Demirors, and other angel investors. To date, the platform has facilitated the investment of over US$125M into over 200 startups and has over 700,000 users on the platform.

"We’re trying to be more than just a crowdfunding platform,” Nguyen has said, “but a community to help founders and give investors the necessary education and context."

The crowdfunding platform has made four acquisitions over the past two years. The first acquisition was of RenGen Labs, a platform that allows companies to issue private equity and security token offerings.

This was followed by the acquisition of SheWorx, a global platform and event series empowering 20,000+ female entrepreneurs to build and scale successful companies. In April 2020 Republic acquired Fig, a crowdfunding platform for video games, and earlier this month the firm acquired Compound, a real estate investment platform.

Republic has always been closely associated with cryptocurrency. One of their advisors Naval Ravikant, who is also the previous employer of the Republic founders is a Blockchain proponent and an angel investor in a large number of crypto startups. The company has an advisory arm to assist startups that are in the crypto space, Republic Crypto.

Republic first announced the launch of the Note In April 2019, saying the function of the Republic Note will be to reward users, investors, and partners for activities taken on the platform. The company stated that Note-holder rewards would include early access to investment opportunities, invitations to exclusive events, and free Republic merchandise.

The announcement also states that the company will eventually link the Note to Republic’s equity interest in every company that successfully raises funds on the platform. This would allow holders to have a stake in the upside potential of its entire portfolio on an evergreen basis.

According to the website, “each Republic Note represents a fractional right to our profit distributions when certain conditions are met. We will make distributions to the wallet addresses of Republic Note holders if and when these proceeds exceed $2,000,000 in total. We also reserve the right to make a distribution at any time if proceeds are below the threshold.”

Republic has already raised close to US$10M to develop the Note as part of a pre-sale, where tokens sold between US$0.06 and US$0.10. Investors in the token include Binance, Algorand,, ZhenFund, Passport Capital, and others.


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