Token-as-a-Service: Quarterly Report

Covering Period from August 1st, 2017 to October 31st, 2017

Contents

  • Token-as-a-Service — Brief Info
  • Summary of Operations
  • Annexes

Token-as-a-Service – Brief Info

Incorporated in Singapore in February of 2017, Token-as-a-Service (TaaS) is a closed-end tokenized fund actively contributing to the development of the blockchain ecosystem. Owners of the TAAS token capitalize on the rise of blockchain markets without dealing with hurdles, risks and technical barriers associated with owning, transferring and trading cryptocurrencies and tokens.

As of October 31st, 2017, TaaS has a team of 23 experienced traders and developers.

TaaS encourages members of public to join its official information channels:

Summary of Operations

1. Transparency and Security

a. Cryptographic Audit

In order to provide transparency and visibility of its activities, TaaS continued enhancing the in-house technology known as the Cryptographic Audit (CA), which is a set of monitoring tools accessible by any member of the public who currently owns or is considering the purchase of TAAS tokens.

This technology is available at https://ca.taas.fund, and allows everyone to easily validate TaaS trading history, portfolio balances, provides Proof-of-Reserves, and other view-only API keys.

b. Security

In order to ensure the safety of the funds managed by TaaS, secure wallets, including multi-signature hardware cold storages are utilized, as well as software solutions provided by MyEtherWallet and Electrum:

Utilizing Ethereum-based smart-contracts allows TaaS to securely process the quarterly payouts.

2. TaaS Token Sale Event

TaaS concluded its own token sale on April 27th, 2017 after allowing the public to participate over a 30-day period. The results were independently audited by Grant Thornton, a world-renown accounting firm. The token sale event attracted 3,942 participants who contributed $7,569,371.61 (valued in USD(T) on April 27th).

As a result of the sale, 8,146,000.78 tokens were distributed, while the rest of the initially created 101 million tokens were burnt. The price of the tokens (including bonuses) during the sale ranged from 0.8 to 1.0 USD(T)/TAAS.

3. Historical Performance

As reported in early August 2017, the 1st Quarter of TaaS operations was concluded with capital gains of over 4,62 million USD(T) equivalent. In accordance with TAAS token model, 50% share of the above amount (equivalent of 0.28 USD(T)/TAAS) was distributed to the token owners in the form of ETH, a total of 11.6 thousand ETH; and 25% of the capital gains (equivalent of 1.16 million USD(T)) was reinvested into the active portfolio, entering the 2nd Quarter with an est. total asset value of 11.57 million USD(T) equivalent.

4. Active Portfolio Operations

The operations of TaaS Active Portfolio during the reporting period included (1) participation in token generation/sales events (TGEs) or initial coin offerings (ICOs) as coined by the media, (2) trading crypto assets and cryptocurrencies on major exchanges and (3) cryptocurrencies fixed income operations.

During its 2nd quarter, TaaS increased the total asset value by 6.5 million USD(T) equivalent.

TaaS Portfolio USD(T) Equivalent

a. TaaS Contributions to TGEs and Token Sales Events

Since August 2017, TaaS participated in six (6) TGEs with the total amount contributed equivalent to 1 million USD(T): ProofSuite, Etherparty, Icon, BLOCKv, Jibrel Network and Sense. Each selected project underwent through the internal evaluation procedures, including rigorous due diligence on the financial, technical and legal aspects of each project.

As of the reporting date, eight (8) projects are in their early contribution stage, and the relevant tokens are not yet listed on major exchanges and therefore have limited liquidity.

  • ProofSuite (PROOF) – 884 ETH (Early contribution)

Proof is a diverse financial asset marketplace that leverages blockchain technology to track ownership records of market participants. Within Proof, market participants are represented by blockchain addresses which perform transactions directly between one another by leveraging smart contracts which act as autonomous, preconditioned, escrow accounts. Proof also produces tools for creating and deploying smart contracts, producing legal documents for blockchain-related activities, and managing blockchain-based promotions.

  • Etherparty (FUEL) – 800 ETH

Etherparty is a contract wizard that removes the complexity of creating, managing and executing smart contracts on multiple blockchains. The platform allows users with zero knowledge of smart contract programming to create an enforceable, self-executing digital agreement for all types of transactions.

  • Icon (ICON) – 750 ETH (Early contribution)

The ICON project is building a global decentralized network. In the ICON world, independent blockchains with different governances can transact with one another without intermediaries.

  • BLOCKv (V) – 344 ETH (Early contribution)

BLOCKv is a shared protocol for the blockchain developer stack, and represents the interface moment in the maturation of the blockchain sector. BLOCKv provides developers with the building blocks to design the experiential economy of the future and unlock new revenue generating opportunities for businesses within this growing ecosystem.

  • Jibrel Network (JNT) – 250 ETH (Early contribution)

The Jibrel Network provides traditional financial assets, such as currencies, bonds, commodities and securities, as standard ERC-20 tokens on the Ethereum blockchain. In the longer-term, the Jibrel Network aims to fully automate and decentralize consumer banking.

  • Sense (SENSE) – 359 ETH (Early contribution)

Sensay platform provides a decentralized, interoperable messenger protocol allowing anyone to chat and transact freely across centralized messaging applications.

  • Apart from the above projects, TaaS has also contributed to the 100 BTC prize pool for the ICO Pitch Competition within the d10e Kyiv Conference on Decentralization, thus entering the token sales of the top-3 competitors: BLOCKv, Hacken and Ripio.

b. Trading Operations

Aimed at maintaining a well-balanced portfolio of mid-to-long term contributions, during the reporting period, TaaS was effectively re-balancing and diversifying in strategically important assets, as well as taking swing positions on exchanges.

The current share of BTC, ETH and USD(T) approximated half of the total assets while the share of other tradeable cryptocurrencies (including SALT, TenX PAY, Bancor BNT, Waves, Zcash and ZClassic, and others) equalled 41% — or 7.5 million USD(T) equivalent. A total of over 3.5 thousand trading transactions executed during the reporting period.

More details on trading are available at https://ca.taas.fund/exchanges/.

c. Lending

A minor part of the portfolio was used for lending activities on cryptocurrency exchanges in order to bring secure fixed income.

5. TAAS Token

TAAS tokens are built on profit-sharing Ethereum smart contract smart contract, which offers token owners 50% of the quarterly capital gains. TaaS reinvests 25% of capital gains in order to increase the capital pool without requiring additional token sales. The premise is that with the gradual increase in the Net Asset Value (NAV) of token increases over time and is therefore explicitly tied to the performance of their parent structure.

TaaS Token (Source: https://www.tradingview.com/)

The total circulating supply of TAAS tokens amounts to 8,146,000.78 resulting in a market capitalization today of over 45 million USD(T) equivalent. The tokens are currently listed on the following exchanges: Orderbook, Livecoin, EtherDelta, HitBTC, CoinExchange and Liqui.

As of October 31st, 2017, the token price exceeded the equivalent of 5.5 USD(T)/TAAS, providing an over 450% ROI to the participants of the Token Sale held just over six months ago.

Annexes

1. TaaS Financial Statements — Balance Sheet

USD(T) Equivalents ( Exchange rates as of October 31st, 2017)

2. TaaS Financial Statements — Profits & Losses

USD(T) Equivalents ( Exchange rates as of October 31st, 2017)

3. TaaS Profitability Indicators

USD(T) Equivalents ( Exchange rates as of October 31st, 2017)

TAASFUND Pte. LTD - 22 North Canal Road, Level 2 - Singapore - 048834201705584H
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