The Republic Protocol, an Ethereum-based distributed dark pool, has announced plans to pay dividends for community members using the Avalanche-based network. The Republic Protocol is an open source, platform-agnostic network, and has partnered with the Avalanche blockchain platform for this new initiative. The project had recently made waves with its high volume token sale.
The dividend payments are set to start in 2021 and will come from the fees paid by users for dark pool services. Republic has created their own native token REN which will be used as a medium of exchange to fees between the different participants in the network. Dividends to token holders will come from the ongoing fees charged to initiate and run dark pool services.
In addition to the dividends, Republic is also launching its own tokenized network rewards program called REV, where users will be rewarded for using the network and promoting it. These rewards will take the form of REN tokens. These tokens can then be used to purchase services and products from various sellers within the network.
Republic’s goal is to incentivize users to provide liquidity to the network and thus, increase the efficiency and speed. The network is also hoping to promote its native asset, REN, by providing users with financial incentives to use the coin. In 2021, Republic plans to launch more features related to the dark pool and the underlying Avalanche network.