TaaS invests 500 ETH in CoinDash, a crypto-based Social Trading Platform
Kyiv, Ukraine — July 16, 2017 — Token-as-a-Service (TaaS), the first-ever tokenized closed-end fund that allows its investors to capitalize on the rise of blockchain markets, today announced its strategic investment in CoinDash, a revolutionary new crypto-based social trading platform.
The CoinDash social trading ecosystem will allow users to share and view investment information and strategies through a symbiotic network. Investors using CoinDash will be able to follow top investors, view their asset allocation and performance as well as copy and trade their Token Generation Events (TGE) investments using a smart contract tool.
Through this new service, investors can access valuable insight about their crypto portfolios. CoinDash offers new tools: dashboard for TGEs (or ICOs as they are commonly referred to by the media), automation investment and much more. Educational tools help investors learn important analytics about their investments: performance, risk, asset allocation and diversification.
CoinDash itself holds no funds or private keys, but has made the process of investing and monitoring cryptocurrencies seamless. Investors simply provide their public keys, and the system automatically gives in-depth insights on trading stats and history.
TaaS’ team initiated due diligence on CoinDash back in June after seeing Alon Muroch, CEO of CoinDash, present the company in Tel Aviv at the d10e Conference, the leading conference on decentralization. After keeping a close eye on CoinDash’s community development and discussing with the company’s top two early stage investors (Consilium and Hyperchain Capital), TaaS’ made a commitment today to invest in the company’s pre-TGE. TaaS’s 500 ETH investment is the last of the allocated amount to strategic pre-TGE investors. CoinDash’s upcoming TGE begins on July 17th, 2017 at 13:00 GMT and ends on August 17th, 2017 or earlier should the $12 million hard cap be reached.
“CoinDash offers such incredible value to the crypto trader of today. Organization, education, insight and analysis are currently not available anywhere and CoinDash has built a superbly user-friendly interface. CoinDash is poised to become the industry standard, a must-have for crypto-traders world-wide,” said Ruslan Gavrilyuk, President of TaaS.
Beside the two early stage investors mentioned before, Coindash’s current partners include CryptoCompare, Wings, Antshares, RSK Labs and now TaaS as well.
Alon Muroch, CEO of CoinDash: “We at CoinDash are looking forward to helping traders in the cryptosphere to hone their portfolios and gain wisdom from other traders. We are happy to receive this investment and endorsement from TaaS and look forward to a bright and exciting future”.
This marks the seventh TAE the fund has invested in since it completed its own month-long TAE, which ended on April 27. TaaS’ previous six investments, totaling 2500 ETH and 422 BTC include: Mysterium Network (500 ETH), Sphre Air (70 BTC), Bancor (352 BTC), TenX (1000 ETH), Dao.Casino (500 ETH), and Digital Developers Fund (300 ETH). TaaS is a long-term investor and has not liquidated any of the tokens purchased in the past TGEs. A substantial portion of the $7.6 million raised during its own TGE is invested in a portfolio of 50 cryptocurrencies, which are part of TaaS’ daily portfolio trading activity.
At the time of this publishing, TaaS (TAAS) is trading on Liqui, LiveCoin, HitBTC and CoinExchange.io exchanges for the average price of $1.27, giving the fund a Market Capitalization of $10,2 million. At the beginning of August, after the end of its first full quarter since the fund started making investments, TaaS will provide profit sharing to its token owners based on the results of the first quarter.