James Atkins
Editor
Editor
On July 18th, Portal, a cross-chain Layer-2 DEX network that is based on BTC and will support Ethereum and EOS. Launches its Reg D equity sales through Republic. Republic is a multi-asset-based outfit that allows people to invest in private companies.
The company states it intends to build a more secure Bitcoin foundation for self-sovereign finance after the debut of Portal’s public offering.
Portal’s ultimate goal is to provide access to a wider range of assets. And use cases by creating an easy-to-use, trustless way to move value between blockchains.
Portal will be the first company in Republic’s history to offer its securities through the investment platform’s new equity crowdfunding product. Which allows non-accredited investors to participate in private placements.
“Crowdfunding is a powerful tool for Portal and our community because it allows everyone to invest early in a company that is redefining what’s possible with blockchain technology,” says Portal co-founder and CEO Zeeshan Firdaus.
Portal’s public offering comes as the company prepares to launch its Portal Network, a decentralized network of Portal-enabled gateways. That will allow users to securely send and receive digital assets across different blockchains.
Customers and partners are just as enthusiastic about the company’s growth as the founders, according to the statement. The firm is extending its operations (and profits) to a broader audience by making ownership of Portal available to the public.
The vetting procedure, according to Republic, the platform managing the public sale, only accepts 3% of applicants. Portal’s equity offering is an opportunity for anybody to invest in an innovative project. That will use Bitcoin’s blockchain as a foundation for DeFi.
Only 1,900 investors from around the world, including the United States, will be able to participate in the public sale. Investors can choose to fund their purchase with fiat currency or with Bitcoin, USDT, USDC, or Ethereum.
Commenting on this latest development, Portal CEO Eric Martindale says,
“The signal remains strong in the storm — Bitcoin remains the most likely candidate upon which the future of financial infrastructure will be built. As Bitcoin’s metrics continue to achieve all-time highs, Portal is eager to bring on this new round of investors in pursuit of advancing Bitcoin-based infrastructure and the continued decentralization of traditional financial services.”
Portal plans to float its testnet in the next few weeks. The project is building a completely developed, censorship-resistant DeFi ecosystem on top of the Bitcoin network.
Martindale also announced that Portal will be the first project to launch on Republic’s new Security Token Offerings (STO) platform. Portal will use Republic’s platform to publicize its equity offering and attract new investors.
The Bitcoin network is being employed by the Portal platform to provide many layers of censorship-resistant financial applications on top of it. The Portal team is building a full-fledged, decentralized financial ecosystem that includes a lending platform, a stablecoin, and a decentralized exchange.
The project has received backing from some of the biggest names in the cryptocurrency space, including Coinbase Ventures, Paradigm, and Polychain Capital.
With its equity offering on Republic’s STO platform, Portal is looking to raise additional funds to continue building out its ecosystem.
The team claims that the peer-to-peer atomic exchanges underlying Portal provide complete decentralization. Allowing customers to deal in local Layer 1 assets across various blockchains without impediments, blocked funds, or security breaches.
Furthermore, the platform’s Layer 2 and 3 architecture will make it easier to create censor-proof communications and media. And on top of the Bitcoin blockchain, one-click execution of cross-chain swaps
Portal will also help people to privately execute “smart contracts” for things like issuing assets, swaps, staking, liquidity, derivatives, and more. This will all be done between people without any third-party interference.
I have been writing copy for blockchain-related projects since 2017. I understand the importance of being able to communicate clearly and effectively with both technical and non-technical audiences. By leveraging my understanding of the crypto industry trends, I can help increase adoption in this rapidly evolving landscape.
