After Raising $8.5 Million from Private Investors, Portal Announces Republic.co Offering
San Francisco, United States, 27th October, 2021,
Portal, a self-hosted wallet and true cross-chain Layer 2 DEX built on Bitcoin, is delighted to announce its public equity sale through Republic.co, a multi-asset investment platform that allows anyone to invest in vetted, private startups. The public sale will take place mid-November.
Portal is extending the capabilities of bitcoin to lay a more robust foundation for self-sovereign finance. The team truly believes that the participants make the project, and want to ensure that those who support delivery of a truly decentralized financial network, including collaborators, users, and Republic investors alike, enjoy the growth of the company as much as the founders do.
According to Republic, their vetting process only approves 3% of startups to fundraise on the platform. The upcoming equity offering will allow the general public to invest in an ambitious project building DeFi on top of the Bitcoin blockchain.
Portal CEO Eric Martindale said, “I’m tired of watching unsophisticated users be swindled into losing their money on insecure systems masquerading as decentralized wünderkind. By leveraging Bitcoin’s smart contract capabilities, Portal can deliver on the promise of truly decentralized finance. The world is about to recognize the power of self-sovereign money in a very big way, so we’ll be seeing unprecedented volumes of capital moving into Bitcoin. We seek to give all digital assets a market in which they can fairly trade, in a trust-minimized way, and backed by Bitcoin’s security and price discovery.”
Last month, Portal announced an $8.5 million round from prominent private investors including Coinbase Ventures, ArringtonXRP Capital, OKEx, Republic.co, Shima Ventures, LD Capital, NGC Ventures, Gate.io, Monday Capital, GenBlock, Taureon, MarketAcross, Autonomy Capital, Krypital, B21 Capital as well as the senior executives and founders from Ethereum, DFINITY, MobileCoin, Tether (USDT), Galaxy Digital, Bitcoin.com, Republic, Centre.io, Polymath, Æternity, Hedera Hashgraph, Reef Finance, GlobeDX, FIO, Portion, and 4K.
Investors from around the world, including the residents and citizens of the United States, will be able to participate in the sale. They’ll have the option to fund their purchases via fiat or in BTC, USDT, USDC or ETH.
The number of investor slots – which will be filled on a first-come, first-serve basis – is capped at 1,900. Portal expects the public offering to sell out on the very first day.
Investors keen to participate in the offering can get on the whitelist ahead of the time via the Due Diligence Sign-up Form. Registering for the whitelist does not guarantee a spot, though.
Portal is DeFi built on Bitcoin. It makes DeFi unstoppable with anonymous, zero-knowledge swaps via the first true cross-chain DEX that’s genuinely trustless. It eliminates minting wrapped coins (ie wBTC, wETH) or risky staking with intermediaries. With Portal, DeFi becomes a service that anyone can provide, maintaining anonymity within open, transparent markets with a security model as robust as Bitcoin mining.
Fabric Protocol is Portal’s Layer 2 and Layer 3 technology that enables building censorship-resistant communications, media and one-click cross-chain swaps, all on Bitcoin.
Stay tuned to our social channels to catch all the updates regarding the Public Sale!
- George Burke