A tokenized, closed-end fund dedicated to blockchain assets announced its initial coin offering (ICO) will begin on Mar. 27.
TaaS said the ICO will run through Apr. 27. It will use the Ethereum blockchain and its Cryptographic Audit technology.
“Blockchain technology and cryptocurrencies have risen exponentially over the last 12 months with little doubt for its ability to disrupt and revolutionize major industries over the coming years,” TaaS cofounder Konstantin Pysarenko said. “Therefore, we believe there is a unique window of opportunity for early adopters, enthusiasts, and professional investors to join this phenomenon.
“With so many barriers to entry, TaaS aims to reduce risks and technical barriers associated with investing in the blockchain space and trading cryptocurrencies.”
TaaS said it will issue tokens built on a profit sharing smart contract where token owners collect half the quarterly profits. One-fourth of profits will be reinvested back into the fund to grow the capital pool. As a token’s net asset value increases over time, TaaS token value will directly correspond to the performance of the parent project, hence the introduction of a Token-as-a-Service business model.
“While smart contracts can guarantee payout distribution, (that) does not contribute to the problem of transparency of investing in non-Ethereum tokens,” Mr. Pysarenko said. “To solve this, we have built an in-house Cryptographic Audit technology.”
TaaS explained Cryptographic Audit is a set of autonomous auditing techniques which track, record, and timestamp trading activity. Its purpose is to properly record all profits, ensure money flow transparency, and confirm the company possesses all declared funds.
The ICO features an early investor bonus system providing a 25 per cent bonus for the first 1000 BTC raised with the bonuses progressively decreasing all the way up to 9,000 BTC. TaaS said it will reserve two per cent of collected funds for bounty programs.
Cryptocurrency portfolio on its way
TaaS is also building what it says is the first Bloomberg-like cryptocurrency portfolio.
Kepler addresses the entire investment process and provides market research, due diligence, order management, risk exposure and performance forecasting. Board members include former Lehman Brothers investment banker John Wong and International Finance Corporation legal consultant Sergey Rabenko.
“It is the overall aim of TaaS to deliver long-lasting innovations in the blockchain industry,” Mr. Pysarenko explained. “We believe TaaS and Kepler are on track to revolutionize the journey of investing in cryptocurrencies and tokens forever and we are excited to watch it all unfold.”
TaaS said its tokens are intended to be traded on major exchanges such as Kraken, Poloniex and Bittrex.