Portal, a decentralized finance (DeFi) platform built on the Bitcoin blockchain, is announcing its mid-November public equity sale through Republic.co. The latter is a multi-asset investment platform that allows all persons to invest in private, vetted startups.
With the public sale, Portal will be bringing the self-sovereign capabilities of Bitcoin to the people. The team believes that all participants have played a vital role in enabling the DeFi network, including its self-hosted wallet and true cross-chain layer-2 decentralized exchange (DEX). Therefore, they (collaborators, users, and investors from Republic) will all enjoy the company’s growth just as much as the founders.
According to the Republic, only 3% of startups are approved for fundraising on the platform. This means that Portal is viewed as an ambitious and promising project. The upcoming public offering will now pave way for the general public to invest in and support the growth of Portal.
As Portal CEO, Eric Martindale notes, many insecure systems are set up as decentralized prodigies but then proceed to swindle less-tech savvy users and con them of their money. Additionally:
“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 raised $8.5 million in a funding round by iconic private investors such as Coinbase Ventures, ArringtonXRP Capital, OKEx, Republic.co, and Shima Ventures to mention a few.
As for the upcoming equity offering, global investors including those in the US will be able to take part. They will also have the chance to make purchases in fiat, Bitcoin (BTC), Tether (USDT), USD Coin (USDC), or Ethereum (ETH).
Investors’ slots are capped at 1,900 and will work on a first-come-first-serve basis. Portal expects the public offering to sell out by the end of day 1. Investors keen on the offering can register on the whitelist through the Due Diligence Sign-up Form. Being on the whitelist, however, does not guarantee a spot in the sales offering.
Notably, Portal boasts of anonymous, zero-knowledge DEX swaps and an open, transparent market with a security model as vast as Bitcoin mining. The platform does away with minting wrapped coins such as wBTC and wETH. Additionally, Portal utilizes Fabric Protocol for layer-2 and layer-3 technology in developing Bitcoin-based censorship-proof media, communications and one-click cross-chain swaps.