Republic Plans to Pay Users’ Dividends on Avalanche Blockchain
The Republic Protocol, a distributed finance (DeFi) protocol, has announced a new program of dividends for its protocol’s users. According to the announcement, the Republic Protocol will be offering dividends to its users in REN tokens, the native cryptocurrency of the Republic Protocol, and in AVAX tokens, the native cryptocurrency of Avalanche blockchain.
The Republic Protocol’s dividend program will be called the “Share The Wealth” program and it will be the first of its kind to offer both REN and AVAX tokens as dividend payments. According to the announcement, users who stake REN tokens in the Republic Protocol will be eligible to receive a portion of the protocol’s profits in the form of AVAX tokens.
The Republic Protocol’s announcement stated that it wants to “share the wealth” with its users who have staked REN tokens and contributed to the growth of the protocol. It also noted that, as the Avalanche blockchain continues to grow, the protocol will be able to offer more dividends and rewards to its users.
This announcement is an exciting development for the cryptocurrency industry as it demonstrates how blockchain-based protocols are utilizing their native tokens to reward their users. The Republic Protocol is the latest in a growing number of projects that are incorporations tokenomics to reward and incentivize its users.