CONTENTS
- TaaS Fund – Brief Info
- Summary of Operations
- Annexes
TaaS Fund – Brief Info
Incorporated in Singapore in February of 2017, Token-as-a-Service (TaaS) is a closed-end tokenized fund (the 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 August 1st, 2017, TaaS has team of 15 experienced traders and developers.
TaaS encourages members of public to join its official information channels:
Summary of Operations
1. Transparency and Security
- Cryptographic Audit
In order to provide transparency and visibility of its activities, the Fund deployed an 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 the Fund’s trading history, portfolio balances, Proof-of-Reserves, and other view-only API keys.
- 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
The Fund 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.
In accordance with the White Paper, the funds raised were utilized as follows: TaaS Active Portfolio (75%), Development and Operations (15%) and the Reserve Fund (10%).
3. Active Portfolio Operations
The operations of the Fund’s Active Portfolio during the reporting period included (1) participation in Token Generation Events (TGEs) or Initial Coin Offerings (ICO) as coined by the media, (2) trading crypto assets and cryptocurrencies on major exchanges and (3) fixed income operations from cryptocurrencies.
Compared to the initial figures, TaaS achieved quarterly growth of 110% in total asset value.
- TaaS Contributions to TGEs and Token Sales Events
Since May of 2017, TaaS participated in eleven (11) TGEs with the total amount contributed equivalent to 3 million USD(T): Mysterium Network, Bancor Network, Sphre Air, TenX, dao.casino, Digital Developers Fund, SALT, Coindash, InvestFeed, SingularityNet and Stox. Each selected project underwent the Fund’s internal evaluation procedures, including rigorous due diligence on the financial, technical and legal situation of each project.
As of today’s reporting date, seven (7) projects are in their early contribution stage, and the relevant tokens are not yet listed on major exchanges and therefore have limited liquidity.
- Trading Operations
Aimed at maintaining a well-balanced portfolio of mid-to-long term contributions, during the reporting period, TaaS was effectively diversifying in strategically important assets, as well as taking swing positions on exchanges. The current share of altcoins (tradeable cryptocurrencies excluding Bitcoin, Ethereum and Tether) portfolio is 16% and it includes Ripple, Ethereum Classic, Litecoin, Dash, Decred, Syscoin, Clams and others.
Estimated total value of tradeable altcoins in the portfolio exceeds 2.4 million USD(T), with a total of over 10,000 trading transactions executed during the reporting period.
More details on trading is available at https://ca.taas.fund/exchanges/.
- Lending
A minor part of the Active Portfolio was used for lending activities on cryptocurrency exchanges in order to bring secure fixed income, which substantially increased the Fund’s profits.
4. TaaS Token
TaaS tokens are built on a profit-sharing Ethereum smart contract, which offers token owners 50% of the quarterly earnings. TaaS reinvests 25% of profits 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 a token increases over time and is therefore explicitly tied to the performance of their parent structure.
The total circulating supply of TaaS’ tokens amounts to 8,146,000.78 resulting in a market capitalization today of a little over USD(T) 20 million. The tokens are currently trading on the following exchanges: Liqui, Livecoin, HitBTC, COSS.io, and CoinExchange.
As of August 1st, 2017, the token price exceeded 2.60 USD(T)/TAAS, providing on average a 150% ROI to the Token Sale participants from just over three months ago.
Annex 1
TaaS Financial Statements – Balance Sheet
Annex 2
TaaS Financial Statements – Earnings & Losses
Annex 3
TaaS Partners
