Republic announced the launch of the Republic Note on Avalanche, its novel profit-sharing digital asset, as part of its mission to democratize access to private investments. 1️⃣ The Republic Note accrues profits generated by Republic’s portfolio of 750+ private assets and distributes them to holders’ wallets via stablecoins. 2️⃣ The Avalanche Foundation’s Vista program is proud to support the Republic Note as one of the many investors. 3️⃣ R/Note is set to be listed for secondary market trading through the Avalanche-powered trading platform INX on December 6. Learn more about why Republic chose the Avalanche network for its speed, scalability, and customizability:

https://www.avax.network/blog/republic-selects-avalanche-for-its-profit-sharing-digital-asset


Republic, a platform seeking to democratize access to private investments, has chosen Avalanche as the blockchain to launch its novel profit-sharing digital asset, the Republic Note. In addition to launching, the Republic Note is also set to be listed for secondary market trading on the Avalanche-powered trading platform INX.One on December 6, 2023.

Republic selected Avalanche for its speed, scalability, and customizability, and plans to expand its footprint to a dedicated Subnet next year. 

Since its inception in 2016, Republic has empowered a global community of over 3 million members to deploy over $2.6 billion into a diverse range of privately held ventures. To further broaden access to these high-growth companies, in 2018 Republic announced its plans to create the Republic Note, a digital asset backed by Republic's portfolio. 

Available to retail investors globally at low minimums, the Republic Note accrues profits generated by Republic’s portfolio of 760+ private assets and distributes them to holders' digital wallets in stablecoins. The Republic Note has garnered over $30 million in pre-sale participation from thousands of individual investors, institutions, and organizations. 

The Avalanche Foundation’s Vista program is proud to support the Republic Note as one of the many investors. Vista aims to accelerate the growth of tokenization and its role in on-chain finance (“OnFi”) by demonstrating the merits of applying blockchain rails and smart contract logic to historically more manual, operationally-intensive, and opaque parts of the asset management lifecycle.

With the December 6 launch on INX.One via Avalanche, the Republic Note will go fully live in tokenized form and primed for secondary market trading. 

“With Avalanche, the Republic Note is getting the foundation it needs to reach and scale with a global audience of investors,” said Andrew Durgee, President of Republic. “Choosing Avalanche goes far beyond the network’s strength, scale, and speed — it solidifies our longstanding partnership with Ava Labs, built on a shared vision of more inclusive financial markets.”


“Avalanche is the ideal platform to support the Republic Note's exciting launch,” said John Wu, President of Ava Labs. “Ava Labs’ collaboration with Republic showcases mutual commitment to developing innovative digital financial products. We are excited for a wider range of investors to have the chance to choose from new opportunities and anticipate a transformative era on the horizon for groundbreaking digital assets.”

For more on the Republic Note and its listing on INX.One via Avalanche, visit here. If you are with an institution and want to learn about the possibilities of tokenization and powering the next generation of finance on Avalanche, reach out here. 

About Republic

Republic is a global technology firm pioneering the digital transformation of finance. The Republic ecosystem is composed of an enterprise-focused Digital Merchant Bank and a retail-focused Global Marketplace. Republic has made it possible for 3+ million community members across 150+ countries to deploy $2.6+ billion into thousands of private ventures. Backed by Valor Equity Partners, Galaxy Interactive, Morgan Stanley, Hashed, AngelList, and other leading institutions, Republic is headquartered in New York City and has established operations in the US, UK, UAE, and South Korea.
Republic: Website | Twitter | LinkedIn

Mirai Labs Blends SocialFi and Web3 Gaming, Migrates to an Avalanche Subnet

Mirai Labs, creator of horse racing game Pegaxy, has migrated to Avalanche and integrated SocialFi with esports economics into blockchain gaming. The move to Avalanche and the SocialFi layer, which lets participants buy and sell Key-like assets similarly to Friend.Tech, will create a more engaging experience for guild members, their supporters, and more casual gamers.

With the launch of Mirai Chain on an Avalanche Subnet, Mirai Labs adopts a blockchain platform that is increasingly known as a hub for Web3 game development thanks to its unique architecture and tooling, which provides superior scalability, security, and decentralization.

This migration from Polygon to Avalanche includes the entire suite of Mirai Labs offerings: the Mirai Chain, the free-to-play racing game Pegaxy, Petopia with its new SocialFi esports-style integration, the native token $PGX, Mirai ID, the Mirai App, and Mirai Pay.
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“With its Subnet technology, unmatched developer support, and exceptional scalability, Avalanche is increasingly known in the blockchain industry as the go-to network for Web3 gaming. It just makes sense for Mirai Labs, as a leader in Web3 gaming, to be part of that momentum,” said Corey Wilton, Co-Founder and CEO of Mirai Labs. 

In parallel with this migration, Mirai Labs unveiled its latest innovation in gaming: the integration of SocialFi with esports economics, a new model launched in Petopia. The launch marks a new step in the evolution of blockchain gaming, one broadening participation and monetization opportunities for guilds, players, and their supporters in a decentralized gaming ecosystem.

In traditional esports, teams and fans engage in a familiar economic dance: fans support teams through merchandise, ticket sales, and viewership, while teams provide entertainment and community. Mirai Labs is reimagining this mode. Now, both players and fans can tap into this economy, earning through participation and investment akin to how esports fans traditionally engage but with the added benefits of blockchain. In Petopia, everyone can earn, irrespective of their playing status, thus expanding the economic landscape.

“Inspired by the vibrant economics of esports, we at Mirai Labs are excited to introduce a new dimension to Web3 gaming with what we call ‘GuildTech.’” Wilton said.

“Just as esports transformed the landscape of competitive gaming, bringing fans closer to the teams they love, we're extending this concept in the Web3 realm. Our platform is designed to deepen the engagement between games, guilds, players, and their communities, leveraging the decentralized nature of Web3 to unlock new, dynamic revenue streams.

We're not just adapting the esports model; we're evolving it, using blockchain technology to create a more inclusive and rewarding gaming ecosystem. It's a new playbook for how we connect, play, and profit in the gaming industry.”

This year, Ava Labs, a software provider for the Avalanche network, launched Avalanche Arcad3, a collaborative program designed to ease the transition of traditional gaming studios into Web3. Avalanche has also rolled out a string of gaming partnerships throughout 2022 and 2023. 

“We’re thrilled to welcome one of the most successful Web3 game studios, Mirai Labs, to the Avalanche gaming ecosystem,” said Ed Chang, Head of Gaming at Ava Labs.

“Not only will games like Petopia and V2 of the smash hit Pegaxy launch on a custom Subnet built for gaming, Mirai Labs will use its own marketplace, fiat onramp, bridging, and other in-house products. The endgame: to streamline UX, giving gamers a better experience — and that’s before even getting into the SocialFi and guild innovations.”

By expanding the Web3 gaming economy and social fabric, Mirai Labs creates a new model. 
In this model, guild supporters can purchase tokenized “fragments” of guilds, just as SocialFi users can buy Keys for social profiles on Friend.Tech. Fragments are unlimited in number, and can be bought and sold instantly via a liquidity pool. Their price is determined via a bonding curve. As such, Fragments provide opportunities to earn both through rewards and through resale.

The SocialFi integration will also introduce tokenized seats: peer-to-peer tradable positions within a guild that are only available to players. Upon a guild's formation, seats will be available to players at a fixed price determined by the guild founder. Seat owners (players) receive a percentage of the guild’s earnings based on their individual contribution to its leaderboard rank. Seats can also be sold by guild members if they decide to leave. 
Importantly, Guild Masters (those who establish and own guilds) retain the ability to strategically balance reward distribution between seat holders (players) and Fragment holders, depending on the guild’s goals. Guild Masters also receive a percentage of their guild’s income. 

All the GuildTech games features are currently active in Petopia on the Mirai Chain. An SDK is available for select developers. Petopia is a free-to- play game available here: https://abr.ge/hukhmy.


Mirai Labs, creator of popular games Pegaxy and Petopia, are migrating their operations to the Mirai Chain, a new Avalanche Subnet. 1️⃣ Mirai Chain will be home to the free-to-play racing game Pegaxy, Petopia with its new SocialFi esports-style integration, the native token $PGX, Mirai ID, the Mirai App, and Mirai Pay. 2️⃣ Also will host their GuildTech feature, a new model through which guild supporters can potentially earn rewards by owning a piece of their favorite guild. 3️⃣ For those looking to try out GuildTech, Petopia is free-to-play and available on both iOS and Android right now. https://twitter.com/avax/status/1734573183909404908 Learn more here: https://www.avax.network/blog/mirai-labs-blends-migrates-to-an-avalanche-subnet

https://www.youtube.com/watch?v=sNacNODOh7s&ab_channel=Avalanche