February 2, 2018 — Singapore — Token-as-a-Service (TaaS), the first-ever closed-end tokenized fund dedicated to blockchain assets, announces the summary of operations during its third fully-operational quarter (November 1, 2017 — January 31, 2018). According to the Quarterly Report, TaaS increased its total asset value by 36.8 million USD(T) equivalent.
Having entered the quarter with 13.94 million USD(T) equivalent AUM, TaaS was effectively rebalancing during November 2017 — January 2018 increasing the assets by over 3.5 times, showing a cumulative 7 times growth for the nine months period. On January 31, 2018, TaaS recorded its total asset value at 50.75 million USD(T) equivalent.
TaaS capital gains for the reported period exceeded 22,2 million USD(T) equivalent. TAAS Token Owners Payouts comprised 1.3627 USD(T) equivalent per 1 TAAS, which will be distributed early February 2018. Distributions are executed in the form of Ethereum, with the fixed exchange rate of 1111.31 USD(T)/ETH.
During the third quarter, TaaS participated in 10 TGEs with the total amount of contributions equivalent to 5.2 million USD(T): SmartOne (210 ETH), EOS (1074 ETH), DMarket (350 ETH), Dreamteam (350 ETH), FuzeX (500 ETH), SolidOpinion (400 ETH), Neuromation (300 ETH + 3.33 BTC), OSA Hybrid Platform (3.33 BTC), Hacken (3.33 BTC).
In the third quarter, TaaS developed and was testing multiple arbitrage and algorithmic trading strategies, resulting in approximately six thousand trades.
Based on the results of the third quarter, TaaS outperformed the global cryptomarket by (generated Alpha of) an est. 82% and Bitcoin by over 205%.
TaaS introduced an innovative Token-as-a-Service business model allowing to capitalize on the rise of blockchain assets without dealing with the hurdles associated with operating on crypto markets. The company launched the TAAS Token sale on March 27th, 2017, which ended on April 27th, 2017 and raised 7.6 Million in USD(T) equivalent.
As a result of the full three quarters of operations, TaaS capital gains exceeded 32 million USD(T) equivalent. In accordance with the TAAS token model, 50% share of the above amount, equivalent to 1.98 USD(T)/TAAS, is distributed to the token owners in the form of ETH (a total of 30.4 thousand ETH). 25% of the capital gains equivalent to 8 million USD(T) were retained in the active portfolio.