TaaS Contributes 500 ETH to STOX’s Token Generation Event (TGE) for Bancor-based Crypto Trading Prediction Platform
Kyiv, Ukraine – July 31, 2017 – Token-as-a-Service (TaaS), the first-ever tokenized closed-end fund dedicated to blockchain assets, announced its contribution of 500 ETH to the upcoming Token Generation Event (TGE) of STOX, the Bancor-based crypto trading prediction market platform.
STOX is an open source, Ethereum-based platform for predicting crypto market trading where people can trade the outcome of events in almost any imaginable category (i.e., finance, sports, election results and even the weather). Among its main features, the platform will be fluid, meaning that prediction patterns and assessments will change upon daily occurring events.
STOX was designed by experienced professionals in the online trading industry who previously built invest.com into a $50 million per year business with 200 employees across offices in five counties servicing three million registered clients. invest.com is an investor in STOX and currently has a 25% equity stake.
“We are honored to be added to the portfolio of TaaS, a leading fund in the Blockchain space. Their belief and support is a testament to STOX’s long-term objectives. I am personally looking forward to working closely with the team at TaaS in building STOX out to be the premiere prediction marketed platform in the world,” said Ophir Gertner, Founder of STOX.
STOX’s TGE is scheduled to launch on August 2, 2017 at 2 PM UTC and will lasts for up to two weeks or earlier should the company reach the crowd sale cap of $30 million. STOX token’s ticker symbol is STX and will be issued as a smart token using the Bancor protocol.
“This contribution shows our commitment to include the most stable and liquid assets in the fund’s portfolio for the benefit of its token owners. TaaS embraces diversification as a key pillar for sustaining and scaling up the fund’s performance. We are excited to contribute to STOX’s TGE and to support their effort of becoming a pioneering member of the Bancor network,” said Ruslan Gavrilyuk, co-founder and CEO of TaaS.
This marks the final TGE TaaS has contributed to since it completed its own month-long TGE of $7.6 million, which ended on April 27. In the first quarter TaaS’ investments totaled 3,800 ETH and 637.35 BTC, and included: Mysterium Network (500 ETH), Sphre Air (70 BTC), Bancor (352 BTC), TenX (1000 ETH), Dao.Casino (500 ETH), Digital Domain Fund (300 ETH), SALT Lending (215.3 BTC), CoinDash (500ETH), investFeed (500 ETH) and STOX (500ETH).
TaaS is releasing its Quarterly Performance Report with the full results of its trading and investing activities. At the time of this publishing, TaaS’ token (TAAS) is trading on Liqui, LiveCoin, HitBTC, coss.io and CoinExchange.io with an average price of $2.58, giving the fund a Market Capitalization of $21 Million. TAAS represents a Proof-of-Membership (PoM) in the fund and allows token owners to collect 50% of fund’s earnings each quarter. TaaS’ first quarter payouts are going to be distributed between August 4th and August 10th, 2017. The exact amount of the payout per token will be announced together with TaaS’ Quarterly Performance Report.
Token-as-a-Service (TaaS) is the first tokenized 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 for its investors. TaaS is currently trading on Liqui, LiveCoin, and HitBTC. 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, Romania, South Africa and China.
STOX is an open source, Ethereum-based platform for prediction markets where people can trade the outcome of events in almost any imaginable category (i.e., finance, sports, politics and even the weather). The platform targets mainstream audiences and provides investors with the option of finding refuge from traditional financial instruments while leveraging their knowledge and participating in profit-making prediction events. STOX is launching its Token Generation Event (TGE) on August 2, 2017 in order to raise capital for the development of the Bancor-based prediction market platform, and to issue STX tokens to participants.