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The Republic Protocol (REN), an open-source crypto protocol for order routing, will soon pay out dividends to holders of its tokens, REN, on the Avalanche blockchain. According to a blog post, the move will cement Republic’s presence on the Avalanche blockchain and mark the first time an Avalanche-based liquid democracy has enabled users to receive passive income.
The dividends will be distributed to holders of REN tokens stored on Avalanche wallets, such as Ava Labs Wallet and WalletConnect. The dividend payments are part of a new initiative called the RENX Ecosystem, which will help foster the growth of the REN token by rewarding its holders with dividends. Starting today, reputed REN tokens holders will be able to stake their tokens and receive dividends from the RENX Ecosystem.
The RENX Ecosystem is initially focused on Avalanche as it’s a well-suited platform for the RENX vision of creating ABCDA (Active Bonding Curve Direct Air Drops) and bring liquidity to the REN Ecosystem. This will allow REN users to easily transform their tokens into cash. In addition, RENX is also looking into launching an Avalanche-based Decentralized Exchange.