What is Republik? Republik is a project in the SocialFi segment with the ambition to bring fairness and equality to content creators. Republik received strong investment from many VCs such as CMS Capital, Arcane, Sora Ventures,… So why does Republik receive such strong attention? Let’s find out together in the article below. .
To understand more about Republik, people can refer to some of the articles below:
- What is SocialFi? TOP 5 Most Outstanding SocialFi Projects Currently
- What is Social Graph? An Indispensable Piece of SocialFi Platforms
- Why Is It Affirmed That SocialFi Will Follow GameFi’s Steps?
- What is DeSocial? Growth Potential of Decentralized Social Networks
Republik Overview
What is Republik?
Republik is a content platform that lowers the barrier for online creators to start monetizing their content and engagement. At its core, Republik is an ecosystem where creators can keep a larger portion of profits and own shares in the platform. Republik includes the following important components:
- Efficient token economy system with unlimited trading possibilities using Republik (RPK) tokens. This allows transactions to be carried out conveniently and quickly around the world.
- The XP & airdrop system is designed like a game, rewarding users at every level of engagement on the platform. This motivates users to participate, helps them progress and receive attractive rewards.
- A unique and engaging discovery mechanism, powered by artificial intelligence, helps users explore challenges with a gaming-like level system. This makes the discovery process fun and stimulates user engagement.
- The Creator Income Toolkit includes a rich and flexible arsenal of familiar tools. Blockchain technology and decentralized finance are used to create new sources of income and increase creator power.
The Republik difference
Republik has a strategy to retain content creators including Ecosystem Expansion, Custom Landing Page Services for Everyone, Token Rewards and Token Value, Rewards at Every Level of Engagement,. ..
- Talent incubator: The Republik ecosystem is a commissioned environment and stepping stone for millions of creators globally, including the emerging and undiscovered. As young creators grow, their role in the ecosystem changes from performing to becoming a mentor, helping other young creators.
- No commission fees:In contrast to traditional platforms that often impose very high fees, Republik ensures creators receive their entire income.
- Rewards at every level of engagement: Republik’s unique ecosystem rewards both creators and their public for their contributions to the platform. People can earn money by engaging with content, referring friends, and supporting creators.
- Token rewards and token value: Republik doesn’t want to rigidly tie creators to our platform. Off-platform success only proves Republik’s effectiveness. While we expect creators to still use our ecosystem and generate token rewards for stakeholders, the value of the token does not depend solely on the reward. The popularity and scarcity of the token also play an important role.
- Expand the ecosystem: In the future, Republik is planning to develop an API to allow any talent or content platform to connect to the Republik ecosystem, use RPK, and purchase Creator Tokens.
- Custom landing page service for everyone: Republik offers customizable landing page services, shared across existing social media platforms. This allows creators to direct users to their monetization channels, including Republik services so they keep 100% of their earnings.
Reward system on Republik
Republik’s reward system is tailored to the interests of its stakeholders with the ultimate goal of promoting Republik’s growing popularity among content creators and supporters of the platform. For supporters:
- Users can use RPK to buy Creator Tokens (representing the Creator) to financially support content creators and bet on the Creator’s potential. In the future, Creators will share their revenue with those who have purchased Creator Tokens.
- Users can vote for their favorite Creator, thereby helping the Creator enhance their brand and earn more rewards.
Some of the rewards that people including content creators and supporters receive include:
- XP: XP represents user activity on the platform that can be converted into RPK – Native Token of the project. People can earn XP through the referral program, participating in activities, interacting with content creators.
- Multipliers: Helps content creators accumulate rewards faster through regular activity on the platform.
- Badges: These are badges to mark important milestones in the creator’s development. These badges open up new features for developers.
Platform fees
To maintain the development of Republik, there will be a number of fees as follows:
- Transaction fees: Fees for depositing and withdrawing funds from the protocol.
- Minting Fees: Minting fees for Creator Tokens.
- Marketplace Fees: Transaction fees for Creator Tokens.
- Non-RPK Transactions: Minting fee for non-RPK assets such as Stablecoin, Fiat, Altcoin,…
- Staked Creator Tokens: The platform will hold 3% of Creator Tokens of creators immediately upon minting.
- Brand Partnership: Republik also charges fees when Creators have outside partnerships.
Development Roadmap
Everyone can refer to the detailed development roadmap of the project here.
Investor
- October 11, 2023: Republik successfully raised $6M at a valuation of $75M with the participation of OKX Ventures, CMS Capital, Enjin, Cooperative Ventures, DeFine,…
Core Team
Daniel He: Co Founder
- Co-founder and former Chief Financial Officer of The Lo&Behold Group.
- Daniel had a period of time as an Emergency Medicine Specialist and a Master of Emergency Medicine.
- Daniel used to work as Director at EMACP – a charity organization and as Advisor at Enjin – Blockchain platform specializing in Gaming.
- Worked as a former management consultant at Monitor Group Asia.
Felix Huang: Co Founder
- Felix graduated with a Bachelor’s degree in Computer Science from the University of Sydney.
- Felix has spent 11 years with his first Startup, Recognize Studio – an entertainment company in Singapore and is currently still working as an Advisor for this company.
- Felix also built many different dance clubs such as Radikal Forze Jam, Summer Jam Dance Camp.
Angel Dimitrov: CTO
- Angel spent time working as a software engineer at many different companies such as Mansion Productions LLC, Worldwide FX, mysportgroup GmbH, Home24 AG,…
- Angel first started a business with the sourcestream project as Co Founder & CEO. After that, Angel played the role of CTO at Flaconi – an online beauty products retail company in Germany with a variety of different products.
- Angel continues to build QuizHero GmbH – an entertainment company.
- After joining QuizHero GmbH, Angel worked as CTO at Recyfy – an online platform for trading waste paper.
Tokenomics
Information about Republik tokens
- Name of project:
- Token code:
- Blockchain:
- Smartcontract:
- Total supply: 3,000,000,000
Token Allocation
- Public Sales: 5%
- Private Sales: 12%
- Platform: 38%
- Marketing: 19%
- Operations: 20%
- Team: 15%
Token Release
- Team will be opened 5% at the time of TGE and paid in monthly installments within 5 years.
- Operations will be opened 5% at the time of TGE and paid in monthly installments over 5 years.
- Marketing will be opened at 5% at the time of TGE and paid in monthly installments within 5 years.
- The platform will be opened at 5% at the time of TGE and paid in monthly installments within 5 years.
- The shares of Public Sales and Private Sales are not explicitly shared.
Token Use Case
RPK will be used for trading on the platform and participating in governance.
Exchanges
Update…
Project Information Channel
Summary
Republik is a quite prominent SocialFi project with a relatively clear economic model. However, Republik has a Tokenomics that is not so pretty. Hopefully through this article, everyone can understand more about what Republik is?