TaaS, the first ever tokenized closed end fund (CEF) dedicated to blockchain assets, today announced its upcoming Initial Coin Offering, commencing March 27, 2017 and running until April 27, 2017. Utilizing the Ethereum blockchain and its pioneering Cryptographic Audit technology, TaaS will offer a new way to participate in and benefit from capital raising, fund management, and cryptocurrency investing, all with full auditing transparency to investors.
“Blockchain technology and cryptocurrencies have risen exponentially over the last 12 months with little doubt for its ability to disrupt and revolutionize major industries over the coming years. Therefore, we believe there is a unique window of opportunity for early adopters, enthusiasts, and professional investors to join this phenomenon,” said Konstantin Pysarenko, Co-Founder of Taas.“With so many barriers to entry, TaaS aims to reduce risks and technical barriers associated with investing in the blockchain space and trading cryptocurrencies,” added Pysarenko.
Unlike traditional closed-end funds, TaaS will issue tokens built on a profit-sharing smart contract where token owners collect 50% of quarterly profits. To grow the fund’s capital pool without attracting additional investment, 25% of profits will be reinvested back into the fund.
The premise is, as the Net Asset Value of a token increases over time, TaaS tokens will have its value explicitly tied to the performance of its parent project, thus introducing a Token-as-a- Service (TaaS) business model
“While smart contracts can guarantee payout distribution, it does not contribute to the problem of transparency of investing in non-Ethereum tokens. To solve this, we have built an in-house Cryptographic Audit technology,” said Pysarenko.
Cryptographic Audit is a set of autonomous auditing techniques that track, record, and timestamp trading activity. This technology was built by TaaS to ensure all profits are properly recorded, money flow is transparent, and the company is in possession of all declared funds. By design, it will simplify investors’ due diligence and provide tools for maximum transparency.
TaaS will be open for investment exclusively during their month-long ICO. By incorporating a bonus system for early investors, TaaS will offer 25% bonus for the first 1000 BTC raised with the bonus system decreasing progressively all way up to 9000 BTC. TaaS will reserve 2% of the collected funds for bounty programs.
In addition to their fund, TaaS is building Kepler, a first Bloomberg-like cryptocurrency portfolio management and analytics platform. Kepler will cover the entire spectrum of the investment process, providing market research, due diligence and order management as well as risk exposure and performance forecasting.
Board members include fund management expert John Wong and legal consultant Sergey Rabenko. Wong, formerly an investment banker at Lehman Brothers, has more than 25 years’ experience taking companies public and managing funds. Rabenko is a legal consultant at the International Finance Corporation (a member of the World Bank Group) with more than 12 years’ experience advising on legal, mergers and acquisitions, and tax issues.
“It is the overall aim of TaaS to deliver long-lasting innovations in the blockchain industry. We believe TaaS and Kepler are on track to revolutionize the journey of investing in cryptocurrencies and tokens forever and we are excited to watch it all unfold,” concluded Pysarenko.
TaaS tokens are intended to be traded on all major exchanges including Kraken, Poloniex and Bittrex.
For more information, The TaaS white paper is available on taas.fund.
Token-as-a-Service (TaaS) is a last generation closed end fund that allows its investors to capitalize on the rise of blockchain markets. Utilizing Ethereum blockchain and its Cryptographic Audit technology, TaaS offers a brand new comprehensive approach to capital raising, fund management, and auditing with full transparency to its investors. TaaS was co-founded by Blockchain pioneers Konstantin Pysarenko, Ruslan Gavrilyuk, Dmytro Chupryna, and Maksym Muratov and has professional team members from USA, Ukraine, Poland, South Africa and China.
- OpenLedger’s Apptrade (www.apptrade.io), the platform creating “Kickstarter for Apps on the Blockchain”, has received a $100,000 USD boost from OpenLedger ApS, the world’s first blockchain powered conglomerate. Powered by the digital token APPX, Apptrade creates portfolios, or groups, of apps, where if one of those apps becomes the next Instagram or Angry Birds, then the value of the portfolio rises. Ronny Boesing, CEO of OpenLedger ApS, explained that Apptrade’s initial token offering (ITO) changed its valuation in the middle of its crowd sale as an immediate response to the result of its preliminary offering. Boesing said, “The Apptrade platform is much too important to not succeed, and it was clear that we needed to adjust the valuation to make it more appealing to anyone deciding to participate. In addition, we wanted to show our belief in this project, and felt that there was no better way to show this than putting our money where our mouth is. OpenLedger will be adding a total of $100 000 USD to the Crowdsale over the next 7 days.” The minimum fundraising goal is $1M USD with a cap of $5M USD. With a total of 8.25M APPX tokens on offer, OpenLedger’s Apptrade ApS will back these tokens with 20% of the future revenue from the Apptrade platform, and any unsold tokens will therefore be distributed proportionally to all participants. All early bird participants, as well new participants, will receive the extra tokens according to the published Stage 1 structure, plus benefit from the additional tokens to be divided. Daniel Pineda, Founder of Apptrade says, “After listening carefully to feedback from public and private supporters, and with great consideration, we decided to update our master token valuation. We firmly believe that our platform, built on the ecosystem of OpenLedger and powerful BitShares financial trading technology, is a strong Blockchain project that will be a success for years to come. We feel that this is the right action to ensure a satisfactory outcome for all.” Apptrade’s final valuation is going to be based on the amount raised, whether $1M USD as its threshold or money back guarantee, or the maximum of $5M USD. The valuation of the Apptrade platform will be determined on what is raised. The deadline according to the escrow agreement is set to end on April 30 2017. Boesing continued, “This approach and change of valuation resulted from requests from within the community, and we hope to accommodate many more participants. But one thing is clear to all of the Early Birds – this is your lucky day!” - March 27, 2017
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