Token-as-a-Service Quarterly Report

TaaS
TaaS
May 8 · 8 min read

Covering Period from February 1, 2019, to April 30, 2019

Dear TaaS Community!

Token-as-a-Service (TaaS) has fulfilled its objective of making smart contributions and providing its initial 3,942 members and subsequent token holders with returns on their contributions.

The decision to wind down the membership token and to distribute the remaining assets to token holders comes as a natural step as markets evolved tremendously since TaaS was first launched. Over the past two years, TaaS grew from the original four founders and three advisors to a team of 40 full-time fintech and technology professionals from USA, Ukraine, Poland, Romania, South Africa and China. TaaS played a pioneering role in the development of the blockchain ecosystem through the following main activities:

  • contributed the equivalent of 10.5 million USD(T) to 35 selected projects, such as EOS, Bancor, Vimana, ICON, Singularity.net, SALT, TenX and others;
  • conducted due diligence and initial screening of over 1,500 projects;
  • traded daily the top 300 cryptocurrencies with over 80,000 completed trades;
  • developed a range of tools, including the Cryptographic Audit, a suite of analytics and monitoring tools accessible to any member of the public who currently owns or considers purchasing TaaS tokens.

From day one, TaaS aspired to provide high transparency standards in the blockchain space. Prior to starting trading on various exchanges in May of 2017, TaaS ICO results were first independently verified by a world-renowned accounting firm Grant Thornton. TaaS has been constantly informing the public on every single contribution or partnership, and published detailed quarterly and annual reports similar to those required from the publicly-traded companies. A total of 70 detailed press releases have been distributed during its 26 months of operations so far.

At the end of the first fully-operational year, ending April 30, 2018, the Net Asset Value (NAV) increased from the original token generation event benchmark (7,569,371.61 USD(T) equivalent) by over 23 million USD(T) equivalent while the total gains exceeded 32.5 million USDT equivalent, resulting in an aggregated 780% annual growth rate. TaaS exceeds 16.8 million USD(T) equivalent in quarterly distributions, as a result of the 24 months of operations, thus providing over 220% ROI and 275% ROA.

The token membership wind-down procedure will commence immediately after publication of the current Report, and the underlying assets will be distributed to the users who have completed the Authorization procedure in accordance with TaaS Compliance Policy.

As of the date of the Report, the total assets are 10.77 million USD(T) equivalent while the total supply of TaaS tokens is 8,146,000.78. The exact payout amounts allocated for the final distribution are provided below.

TaaS tokens have been created to benefit from the operations of an Ethereum-based smart contract, which offers token owners 50% of the quarterly gains while 25% of the results are retained in order to increase the capital pool and the remaining 25% to be used by management to grow operations and remunerate the team.

TaaS token holders are encouraged to visit the official website for detailed instructions about the process of receiving their pro rata distribution.

Any issues regarding the redemption procedure or authorization should be forwarded to taas@taas.fund.

Please make sure you carefully read and comprehend the following instructions, policies and terms (accessible after registration/login) before using the Service or claiming any distributions:

  1. TaaS User Agreement;
  2. Privacy Policy;
  3. Compliance Policy;
  4. Authorization FAQ;
  5. Winding-up Procedure FAQ;
  6. Redemption Agreement;
  7. Do’s and Don’ts.

Faithfully yours,

Token-as-a-Service

SERVICE TERMINATION ROADMAP

After 11AM UTC on May 1, 2019 Authorized Users will be able to claim TaaS Assets, and receive a distribution per the result of the final TaaS Quarter (February 1 — April 30, 2019).

A visual roadmap of the Service Termination process is provided below for your convenience.

Any issues regarding the Authorization procedure or the Service Termination process should be forwarded to taas@taas.fund.

Please make sure you carefully read and comprehend the following instructions, policies and terms (accessible after registration/login).before using the Service or claiming any distributions:

TAAS WALLET

As previously mentioned on numerous occasions, TaaS WebWallet (wallet.taas.fund) service and support will be discontinued after 23:59 UTC on December 31, 2019.

In order to avoid unnecessary delays, it is recommended to withdraw funds from the wallet at earliest convenience, by transferring the balances to an eligible ERC‑20 wallet of your choosing, including:

  • web wallets (e.g. MyEtherWallet, MyCrypto and integrated storages);
  • desktop wallets (Mist, Parity etc.);
  • hardware wallets (e.g. Trezor and Ledger).

Please, do not send your ETH or tokens to any exchange/platform accounts or smart contract addresses, as such actions might lead to delays or even permanent loss of funds.

Should you require further assistance regarding any issues related to withdrawal of your funds, please contact support@taas.fund.

TRANSPARENCY

In order to keep its activities transparent and visible, TaaS developed and maintained an in-house technology known as 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.

CA has been fine-tuned to provide its users with up-to-date information on the underlying assets held in crypto wallets and trading accounts on exchanges/platforms, details of the early-stage contributions and other assets with limited liquidity, as well as the list of wallets used by TaaS.

The final update of the Cryptographic Audit is 3PM UTC on April 30, 2019, at the time of the snapshot for the purposes of the current Report.

SECURITY

Storage

In order to ensure the safety of the underlying assets, TaaS utilizes secure wallets including multi-signature hardware storages, as well as in-house and trusted third-party software solutions.

Redemption

Redemption smart contract will be activated on May 1, 2019, at 11AM UTC, and after activation will start accepting claims for redemption proceeds from Authorized Users in the form of TAAS token transfers to the smart contract, 0xa6b5e8DF6553969dE6006EDB3A87Ff5226f4a115 (please, double check the address:

).

The smart contract shall interact only with the whitelisted wallets of the Authorized Users for redemption purposes pro rata to their submissions of TAAS tokens.

OPERATIONS AND PORTFOLIO OVERVIEW

TaaS activities during the reporting period were mainly focused on sustainability and preserving value, rebalancing the portfolio towards the upcoming Service termination. The net asset value as of April 30, 2019 equaled 10.77 million USD(T) equivalent, including the following asset categories:

  • Category A Assets (fully liquid, tradable, having market discovery): 7.56 million USD(T) equivalent;
  • Category B Assets (movable, low liquidity): 0.61 million USD(T) equivalent;
  • Category C Assets (receivables, illiquid, locked): 2.60 million USD(T) equivalent.

Please refer to the Cryptographic Audit (taas.fund/audit) for more details on the portfolio as of the end of the reporting period.

Further details of the final portfolio snapshot, Quarter results and allocable redemption proceeds are provided in Annexes 1–3 to the Report.

LIQUIDATION OF ASSETS

The amount of proceeds allocable for the distribution from the TaaS assets liquidation is determined below:

a) For TAAS Tokens submitted before January 1, 2020: pro rata to the TAAS Token deposits of Authorized Users from the Eligible Wallets.

b) For TAAS Tokens submitted after January 1, 2020:

Where

  • Distribution is the amount of TaaS Assets allocable for the distribution to the Tokenholder,
  • Proceeds are the total proceeds of TaaS Assets Liquidation Event,
  • Deposit is the amount of TAAS Tokens submitted by the Tokenholder to the TaaS Smart Contract,
  • Emission is the total circulating supply of TAAS Tokens, equal to 8,146,000.779398 TAAS Tokens,
  • Deposit Day is the numeric count of days elapsed in the year 2020 before the TAAS Tokens submission by the Tokenholder, ranging from 1 to 366 (e.g. for January 1, 2020, Deposit Day equals “1”, for February 1, 2020, Deposit Day equals “32” etc.).

c) All the assets (i) deposited to the TAAS Smart Contract during 2020, and (ii) remaining fully or partially undistributed at the TaaS Assets Liquidation Event Closure Date (23:59 UTC December 31, 2020), as the case may be, shall be distributed after the Closure Date, and pro rata to the TAAS Token deposits of Authorized Users from the Eligible Wallets.

TAAS TOKEN

In order to enable the safety feature to streamline redemptions of the assets liquidation proceeds, the TAAS token has been upgraded.

The following feature has been made available to the TAAS token owners:

  • for the purpose of redemption of allocable assets, pro rata to the amount of TAAS tokens in the ownership, an Authorized User may send ZERO (0) TAAS Tokens to ANY ETH address, thus submitting the full TAAS Tokens balance to the Smart Contract.

At the same time, Authorized users will still be able to make the TAAS token transfer in a more conservative way, by inputting an amount of TAAS tokens and sending them to smart contract address, 0xa6b5e8DF6553969dE6006EDB3A87Ff5226f4a115 (please, double check the address:

).

Annex 1

TaaS Financial Statements — Balance Sheet

Covering Period from February 1, 2018 to April 30, 2019

USD(T) Equivalents

USD(T) Equivalents

ANNEX 2

TaaS Financial Statements — Profits & Losses

Covering Period from February 1, 2018 to April 30, 2019

TaaS Profitability Indicators

ANNEX 3

TaaS Assets Liquidation Proceeds

Revision Date: April 30, 2019

TaaS

Token-as-a-Service (TaaS) is the first-ever tokenized closed-end fund dedicated to cryptoassets.

TaaS

Written by

TaaS

Token-as-a-Service (TaaS) is the first-ever tokenized closed-end fund dedicated to blockchain assets.

TaaS

TaaS

Token-as-a-Service (TaaS) is the first-ever tokenized closed-end fund dedicated to cryptoassets.