Accredited investors
What is AVAX?
AVAX is the native token to the Avalanche blockchain protocol, on which the Republic Note is built. As a refresher, the Republic Note is a digital security, and as such requires a digital infrastructure/network for it to be programmed and operated. Avalanche is the infrastructure chosen to build the Republic Note.
Investors will need C-Chain AVAX tokens in their Republic Wallets to execute trades. AVAX from other Avalanche chains cannot be used to pay blockchain network fees. To learn more about the differences between the P, X, and C-Chains. Click here.
Why do I need to have AVAX in my Republic Wallet (sellers only)?
AVAX is used on the Avalanche blockchain to interact with and access the Avalanche blockchain. To submit transactions, transfer tokens, swap tokens, and more, users must have AVAX in their wallets. This AVAX is used to pay for transaction fees or “gas” incurred for using the network. Anybody who would like to sell the Republic Note on INX will need to have AVAX in their Republic Wallet.
Buyers will not need AVAX to purchase the Republic Note on INX.
Where can I buy AVAX?
There are several ways investors can purchase AVAX. If you are not familiar with purchasing AVAX or other cryptocurrencies, you’ll first need to convert fiat currency (e.g. USD) into AVAX. One simple way to buy AVAX is via the INX platform or on exchanges like Coinbase.
For INX, US investors can deposit funds and convert those funds into AVAX via ACH, credit or debit cards, wire transfers, and cryptocurrencies. Non-US investors can deposit with wire transfers and cryptocurrencies and convert to AVAX on INX.
Please note that there may be delays or holding periods associated with either your deposit purchase or your ability to withdraw AVAX to your Republic Wallet if you use fiat currency such as USD. If you need to send AVAX to your Republic Wallet as quickly as possible, converting a different cryptocurrency into AVAX on INX will be the fastest way.
For more information on depositing funds to INX, you can review their materials on the subject here. Coinbase has an article here that you can review as well.
For a list of exchanges that are compatible with AVAX, see their article here.
How do I get AVAX into my Republic Wallet?
As a reminder, anybody who would like to sell Republic Notes on INX must have enough AVAX in their wallets to pay for transaction fees (usually a few USD or less).
Once you’ve obtained AVAX, you’ll need to send it to your Republic Wallet address if you’d like to sell Republic Notes. To receive AVAX in your Republic Wallet after you’ve purchased it, log into your Republic Wallet and scroll down to the Avalanche network. There you will see a receiving address (pictured below) which you should copy to paste into your INX or other account you are transferring from.
Reminder all investors need to use C-chain AVAX. AVAX from other Avalanche chains cannot be used to pay the network transaction fee. Learn more about the differences between the P, X, and C-Chains. Click here.
If you use Metamask, make sure it is configured to C-Chain. If you are using the Republic Wallet, it is already configured to receive C-Chain AVAX.
One check to confirm that you have the right address, though not foolproof, is to confirm the first four and last four digits of the wallet address you are sending to match the receiving address digits from your wallet. In the example below, the first four digits are 0x94 and the last four digits are 2B3F.
AVAX transaction fees vary but are usually relatively inexpensive. Investors should only need a few USD worth of AVAX to complete transactions. Before sending large amounts of cryptocurrency like AVAX to your wallet, we recommend sending a “test” transaction first with a small sum of money.
The transaction may take a few minutes to go through.
For more information on withdrawing cryptocurrencies from INX, you can review this FAQ. For information on withdrawing from Coinbase Exchange, you can review their materials on the topic here.
