NEW YORK, Aug. 14, 2019 /PRNewswire/ -- Republic, a leading investment platform and spinoff of AngelList, has launched the first-ever legally compliant security airdrop to retail investors in the United States and abroad. For its first airdrop campaign, Republic has partnered with Althea, a system that enables communities to build and maintain their own decentralized internet infrastructure.
Companies have long searched for a meaningful way to reward their most loyal users but have struggled to find a legally compliant and viable option. Republic developed a tool for companies to give away private securities to customers and fans for free or in exchange for their contribution to a project, all while strictly complying with securities regulations.
The campaign allows anyone to receive tokens for taking steps to help Althea build a decentralized internet. Althea is a system that lets routers pay each other for bandwidth, allowing anyone to set up decentralized Internet Service Providers (ISPs) in their communities. In an Althea network, instead of one ISP monopolizing the market, many different people can earn money by expanding and strengthening the network. Communities then get faster, cheaper internet by cutting out the middleman.
"Building a tool that allows companies to share their equity or tokens with users and engaged customers stems from our strong belief that early users are often the most passionate and vocal champions of a company, yet yield nothing from said company's financial success," said Jed Halfon, Partner at Republic. "Republic's mission is to equalize opportunities for everyone involved, giving people their fair share of the value they created for a startup."
Althea will give away investment contracts that can be redeemed for tokens to participants who carry out actions such as watching a video and learning about Althea, submitting a proposal to create a new network, and building a network by signing up users. Those looking for faster, cheaper internet in their community can earn Althea tokens (ALTG) by visiting https://republic.co/althea and taking steps to start an Althea network in their area.
"It's important that those who are starting and operating on-ground networks will have a stake in the Althea governance token," said Deborah Simpier, Co-Founder of Althea. "This partnership with Republic also enables us to distribute tokens to a broad audience of U.S. and foreign citizens, accredited and unaccredited investors alike, while maintaining compliance with the law."
The airdrop is now open for anyone to participate. ALTG entitles holders to share in the upside of a successful Althea network. Anyone over 18 years old can participate and while participation is technically an investment, no USD payment is required.
Founded in 2016, Republic operates a family of businesses, including an investment platform that provides retail investors around the world with compliant access to curated startups and blockchain projects. Republic operates under U.S. equity crowdfunding regulations and is under the supervision of the U.S. Securities and Exchange Commission and the U.S. Financial Industry Regulatory Authority. Republic recently expanded beyond crowd investing with the introduction of Radar (a platform that connects founders with noted venture firms), a Republic syndicate on AngelList, and a tokenization advisory service, each as an independent business operation. For additional information, please visit: www.republic.co, @joinrepublic and www.facebook.com/joinrepublic.
Althea is a system that lets routers pay each other for bandwidth. This allows people to set up decentralized Internet Service Providers in their communities. In an Althea network, instead of one ISP at the top collecting monthly payments, many different people can earn money by expanding and strengthening the network. Learn more at althea.net.
Brooks Wallace, for Republic
Lindsey McConaghy, for Althea