Here are the essentials:
We’ve launched the Note— a reward token provided to our users for supporting our startup ecosystem — to create an even more symbiotic relationship between founders and investors on Republic.
Note holders get access to a growing list of on and off-platform perks, swag, priority allocations in oversubscribed deals and exclusive event tickets.
We aim to connect the Note to Republic’s future success. This feature is a work in progress and not guaranteed, but existing Note holders will be the first to know. (See terms and conditions below).
You can receive 10 Notes for every friend you refer that joins Republic.
This complex project is still in development, so we aim to update this post and our Note homepage as the project evolves.
Talent is evenly distributed. Opportunity is not. We launched Republic in 2016 inspired by this adage, and since then, a lot has changed.
Since our launch, more than 100 founders have successfully raised capital to grow their businesses and create new jobs, from blockchain projects like PROPS to barbershop software like theCut. Many of these startups were venture-backed at the time of their Republic campaign, and many have raised further funding at a premium.
This entrepreneurial movement is made possible by our hundreds of thousands of users of all backgrounds, deploying as little as $10 to $107,000 towards Republic-curated projects. While investors diversify their portfolios into the next startup success stories, they’re also diversifying the talent pool: a significant portion of all capital raised on Republic funded female and minority founders.
We’re proud of our progress to connect the masses with ambitious startup deals, while helping founders build the future. Public adoption of startup investing helps everyone profit from progress — but how quickly it happens starts with you, and it’ll take everyone.
That’s why we’ve introduced a simple token to reward present and future Republic users for actions they take towards our common mission: to help everyone participate in creating the future.
Meet the Note — a new reward token provided for supporting the startup ecosystem. Note holders get access to exclusive perks that improve the Republic experience on and off-platform, and eventually, they may be eligible to share in Republic’s future success.
The Note currently doesn’t represent any assets or bear any right to financial gains. This complex project is still in development and we can’t guarantee the results. Claiming any future asset tied to revenue or earnings would require participating in and meeting all the requirements of a securities offering, and such an offering is not guaranteed, nor can your participation be assured.
Below is everything you need to know to claim your Notes.
Why is a Note valuable?
Easy to receive and store: You’ll receive your first “Note reward token” in just a few seconds, without the need for an off-platform wallet. Once you sign up, you’ll receive Notes for many of the actions that you take on Republic; from investing in companies, to referring fresh deals, to telling your friends about Republic.
The Note is like sweat equity: You’ll get Note rewards for helping startups (including Republic) grow – there is no requirement to make an investment to receive Notes, and you can’t buy Notes.. Best of all, you’ll usually be able to use Notes immediately – whenever a benefit arises that interests you.
Access to perks and benefits: From VIP events to priority access into otherwise oversubscribed startup deals (among Issuers participating in the Note program), obtaining Notes will entitle you to unique benefits that will develop over time.
First to know: We aim to connect the Note to our future success, which is made possible by all of the startups that have and will raise on our platform. This feature remains a work in progress and is not guaranteed, but existing Note holders will be the first to know.
The more ecosystem value you create, the more Notes you’ll receive; and the more you have, the greater your access to ongoing rewards — simple as that.
The Note is our way of thanking Republic’s earliest believers — especially our community of investors and partners. It is our hope to mobilize millions more to back and support founders on Republic, and the Note plays an important role in encouraging new investments and aligning incentives between founders and backers.
Start claiming Notes right now, or keep reading to learn everything there is to know about the Note.
Note Frequently Asked Questions
OK — so what is the Note?
The Note is a digital reward token that’s claimed and stored on Republic. You can’t sell Notes on a crypto exchange or otherwise move them off the platform — they’re just not liquid.
Think of Notes as “startup loyalty points” used to unlock perks both on and off the Republic platform — except unlike frequent flyer miles or loyalty programs, the Note is the potential technical foundation for something much greater. More on that later.
Here’s what it’s not: It’s not a security, it’s not a utility token, it’s not equity and it does not represent any claim to earnings, profits, or assets now or in the future.
What is the Note worth?
The Note holds no monetary value and does not represent any asset nor claim to revenue or profits. That said, if we’re successful in our goal of connecting the Note to Republic’s future success, the answer to this question stands to change.
The Note cannot be traded or transferred — but if that were to change it would be worth whatever the market would want to pay for it.
What is the total Note supply?
Our current reward Note supply is 20 million Notes — though this is subject to change as the Note program matures.
Why did you create the Note, and why are you giving it away?
We think the Note will support our mission to get more people building, investing, and benefiting from the success of the future.
First, it’ll be by attracting them to check what Republic has to offer to founders and investors. Republic is better the larger our pool of founders and investors, so our token giveaway is primarily designed to attract both sides of the market and give them a chance at bat.
Next, we want to reward our most active investors by giving them more chances to be helpful: by giving extremely engaged community members tools and privileges to support their passion, and give founders the privilege of working with the most hands-on investors we know — which they love.
Last, we eventually want to give founders the chance to use the Note and our lessons launching it to benefit their own campaigns — but this step is still a long way off.
Where are my Notes stored?
Your Notes live in your Note wallet on Republic. While you may one day be able to move Notes between individual users' wallets, there’s currently no way to transfer or move the Notes off the Republic platform.
To be specific: Notes are stored in a manner that protects them from hackers but also prevents you from controlling them without Republic's consent.
“Coming soon?” Why isn’t the Note shipping with a tie to Republic’s success today?
Launching a security tied to our future success is no small feat and represents a tremendous and novel technical, regulatory, and economic project — for better and worse, we’re really trailblazing this type of blockchain implementation.
For these reasons and more, we believe our launch of the Note as a rewards token will teach us a lot about how people like you claim, use, and talk about your Notes. This, alongside the work of the best economic, legal, and technical minds, should give us everything we need to make great decisions towards developing a truly rewarding Note. Read about our view on Security Token Offerings in our blog post Intro to Securities Token Offerings.
Have feedback for us already? Let us know in the comments!
Using the Note
What benefits does the Note offer?
As you claim Notes you achieve levels. The Note’s levels —from Gray to Black — represent various types of access to events,opportunities, and our network. More perks will be added over time, but for an updated list of benefits, see your Notes page.
How do I earn Notes?
You’ll receive Notes every time you introduce a startup that runs a campaign of their own, refer a friend to join Republic, invest in an active Republic campaign, add to an active discussion — and more. We call on-platform activities that receive Note rewards Bounties — and you can see them all on the Note page here (requires login).
For a short time, you’ll earn 10 Notes for every friend you refer to sign up, and all Bounties will pay out increased rewards during our launch campaign.
Ok, but how do I earn as many Notes as possible?!
That’s the attitude! To maximize your Notes, you’ll want to try to complete as many Bounties as you can.
Find your referral link and a list of all available Bounties on the Note page.
When will I receive my Notes?
You receive Notes into your Republic wallet generally as soon as you claim them — though you’ll need to confirm your email address before you’ll be able to claim them. Certain bounties are subject to a planned delay, such as Notes provided for investing in a Republic campaign, which are disbursed soon after the campaign ends successfully.
What do I need to know?
Right now, not much — just what it is and where it’s stored (a digital reward that lives only on Republic). It’s our plan to develop the Note into an imaginative but approachable crypto product, but until then, if you understand frequent flyer miles, you’ll have a fairly intuitive understanding of how the Note works.
Can I make money selling the Note?
No, the Note is currently illiquid, and exists only in your Republic wallet — though we’re working on plans that may change that. There’s currently no way to trade or sell the Notes, and it has no economic value.
Is the Note a security token?
Because the Note remains under Republic’s custody on the platform, can’t be traded or transferred, and has no economic value, we do not believe the Note to be a security token or a utility token.
Though the token offers practical benefits, like a better investor experience on Republic, we consider these on par with “loyalty points,” not a true utility token.
Which blockchain or platform is the token launching on?
The Note is not yet connected to a public mainnet. We’re considering industry-leading solutions to formally deploy the Note on a blockchain.
When do you expect to link the Note to a network, and let me take custody of it?
We hope to link the Note to a blockchain in the future, which may allow you to claim custody of your Notes, but the timing and outcome of this is not guaranteed.You should not try to claim Notes if your goal is to ultimately take custody and trade your Notes.
Will I need to complete Know Your Customer (KYC) or Anti-Money Laundering (AML) checks to claim my Notes?
As Notes are not securities, do not trade, and are not tied to any economic value, the current answer is no, you will not need to complete KYC or AML to claim Notes. You will, however, need to confirm your email to claim your Notes. Should Republic successfully connect the Note to our future economic success, it would be necessary for you to complete KYC and AML, and participate in and meet all the requirements of a securities offering.
Our terms of service don't allow an individual to use multiple accounts to claim bonus Note rewards — but should someone hypothetically accrue many accounts with many Notes, the requirements of KYC/AML would make it impossible for them to claim Notes from more than one account. In short, don't waste your time.
Will I have to pay taxes on Notes I claim?
The Note currently does not represent an asset nor claim to earnings, you are not buying nor selling it, and it has no inherent economic value - so no, you will not be responsible for any taxes on Notes as they currently work.
There may be tax ramifications from receiving any cash, perks, or benefits associated with the Notes, but Republic cannot provide any tax guidance. Also, should Republic successfully connect Notes to our future economic success, you should expect that there may be tax ramifications from holding Notes.
Please consult your tax adviser.
Did we miss your question? Let us know in the comments below and we'll credit you if we add it to our list above.
Disclaimer: The Note does not entitle you to any asset, economic right, governance right, interest or other item that could lead you to expect to profit from the Note, and no such rights are guaranteed in the future. You should not interpret any discussion of future development plans with respect to the Note as a promise of economic value or potential profit. Any such development plans are subject to a number of risks and uncertainties, may not be completed, and may be modified or terminated in Republic’s sole discretion at any time. Claiming any future asset tied to revenue or earnings would require participating in and meeting all the requirements of a securities offering, and such an offering is not guaranteed, nor can your participation be assured.
Although the Note may not at this time constitute a “security” under our view of applicable laws and regulations, Republic is conforming to the standards of testing the waters under Regulation A of the Securities Act of 1933, as amended (“the Act”). This process allows companies to determine whether there may be interest in an eventual offering of its securities. Republic is not under any obligation to make an offering under Regulation A. Republic may choose to make an offering to some, but not all, of the people who indicate an interest in investing, and that offering may not be made under Regulation A. For example, Republic may determine to proceed with an offering under Rule 506(c) of Regulation D, in which case we will only offer our securities to accredited investors as defined by Rule 501(a) of Regulation D.
If and when Republic conducts an offering under Regulation A, it will do so only once (i) it has filed an offering statement with the Securities and Exchange Commission (“SEC”), (ii) the SEC has qualified such offering statement and (iii) investors have subscribed to the offering in the manner provided for in the offering statement. The information in the offering statement will be more complete than the test-the-waters materials and could differ in important ways. You must read the offering statement filed and qualified with the SEC. No money or other consideration is being solicited for our Regulation A+ offering at this time and if sent in to Republic will not be accepted. No offer to buy securities in a Regulation A+ offering of Republic can be accepted and no part of the purchase price can be received until Republic offering statement is qualified with the SEC. Any such offer to buy securities may be withdrawn or revoked, without obligation or commitment of any kind, at any time before notice of its acceptance given after the qualification date. Any indications of interest in Republic offering involves no obligation or commitment of any kind.