Listing on Coinbase Brings More Good News! Crowdfunding Platform Built on Algorand, issuing profit-sharing token Note

To prevent Ethereum from stealing the limelight, Algorand, a star public chain project initiated by cryptography pioneer, Turing Award winner, and MIT professor Silvio Micali, is making moves again. Today, the crowdfunding platform Republic issued profit-sharing tokens "Note" through the Algorand platform.

Can Republic Democratize Investing?

Republic was founded in 2016 and is a crowdfunding platform for global users that helps institutions issue tokens, raise funds, and provides users with opportunities to participate in private placements.

In 2018, Republic raised $12 million in funding from institutions such as Binance, SeedInvest, and ZK Capital. According to its official website, Republic has assisted over 50 companies in raising over $13 million in funding.

Note is the platform's native token and also a security token. When a crowdfunding project is successfully issued and listed, Republic will monetize the project's performance fee (carried interest) to repurchase Note tokens. Holding Note tokens unlocks a range of rights for users, including "information rights," "voting rights," and "priority investment rights."

Algorand Listed on Coinbase

In a similar move, Coinbase announced the listing of Algorand today, with its token ALGO surging nearly 50% in a single day. Since a major drop in March, its increase has been nearly 300%.

Looking back at February's report, Binance.US announced that the first staking product it launched was ALGO. With Algorand's adjustment to the new plan for relay node rewards, the ALGO token also surged by as much as 75% at one point.

It is understood that Republic Note plans to issue tokens on both Algorand and Binance Chain in the future. The aim is to create tokens for crowdfunding projects on Binance Chain and Binance DEX in a wrapped token format.

This fundraising round has a maximum limit of $8 million, with one "Note" token priced at $0.12, and a minimum investment of $100. Republic has conducted a hybrid sale of Reg A+ and Reg D for this fundraising round and continues to apply for approval under Reg A+ regulations. Reg A means that both accredited investors and certain non-accredited investors with specific income levels can participate.