Platformoffers new way to invest in cryptocurrencies with full auditing transparency
New York, New York— March 27, 2017 — TaaS, the first-evertokenized closed-end fund dedicated to blockchain assets, today launched itsInitial Coin Offering (ICO), which will conclude on April27, 2017. Using the Ethereum blockchain and a carefullyengineered Cryptographic Audit technology, TaaS offers a new way for investorsto participate in and benefit from cryptocurrencies, a new paradigm in capitalraising and fund management. The TaaS platform enables investors to enter thevast cryptocurrency market with complete auditing transparency for the firsttime.
TaaS Co-founder DimitriChupryna said: “TaaS’ model solves the major problems faced by early adoptersof cryptocurrencies, issues that make it impossible for institutional ortraditional investors to access the world’s fastest growing market. We havedesigned the TaaS platform to reduce the risks and barriers faced by investorswhen entering the surging blockchain and cryptocurrency space. Experts fromacross the world have declared that blockchain technology will shake up manyindustries in the coming years, and those looking for a trusted access to thisextraordinary market will be able to invest through TaaS during our crowdsale.”
Unliketraditional closed-end funds, TaaS will issue tokens built on a profit-sharingsmart contract where token owners receive 50% of quarterly profits. The smartcontracts guarantee that investors will receive any profits earned. To increasethe fund’s capital pool without requiring additional investment, 25% of profitswill be reinvested back into the fund.
The modelfunctions in such a way that as the net asset value of a token increases, TaaStokens will have their value tied to the performance of the parent project,thus introducing a Token-as-a-Service (TaaS) business model.
To provideTaaS token owners with maximum transparency into non-Ethereum tokeninvestments, TaaS built an in-house Cryptographic Audit technology, which is aset of autonomous auditing techniques that track, record and timestamp tradingactivity. The technology ensures that all profits are properly recorded, moneyflow is transparent, and the company is in possession of all declared funds.Its design simplifies investors’ due diligence and provides deep insights intotheir investment.
TaaS will beopen for investment exclusively during its month-long ICO. TaaS is offering a25% bonus for the first 1,000 BTC raised, with the bonus system decreasingprogressively up to 9,000 BTC. TaaS will reserve 2% of the collected funds forbounty programs related to the crowdsale.
In additionto its fund, the TaaS team is developing Kepler, the first Bloomberg-likeportfolio management and analytics platform for cryptocurrencies. Kepler willcover the entire spectrum of the investment process, providing market research,due diligence and order management as well as risk exposure and performanceforecasting.
“TaaS hopesto deliver significant and long-term changes in the blockchain industry andcryptocurrency market. We believe the vision and technology underpinning TaaSand Kepler will transform digital currency investments and we are eager to seeits progress,” concluded Chupryna.
TaaS boardmembers include fund management expert John Wong; serial entrepreneur andinvestor Mike Costache; blockchain technology and digital currency tradingexpert Marshall Swatt; and legal expert Arnold Spencer. Wong, previously aninvestment banker at Lehman Brothers, has more than 25 years of experiencetaking companies public and managing funds. Costache is the co-founder andmanaging partner of KrowdMentor, a strategic crowdfunding advisory andinvestment firm with a roster of 20 startups. Costache was formerly Presidentof Leo & Leo, a management and franchise representation service withclients such as Maserati, Miss Universe and Rockstar Energy. He will serve as aTaaS advisor covering the venture capital and investment sectors, providingassistance in fundraising and negotiations.
Swatt is thefounder and major investor at ATS Inc., a leader in algorithmic trading systemsfocused on strategies in niche financial instruments such as cryptocurrencies.As the former CTO of Coinsetter and Cavirtex, two of North America’s leadingVC-backed bitcoin exchanges, Swatt has more than 20 years’ experience instrategy, operations, business development and technology. He will serve asTaaS technology and trading advisor. Spencer is Managing Director of Spencer& Associates, a corporate criminal defense firm, and General Counsel atCoinsource, the world’s largest bitcoin ATM network. Spencer will serve as TaaS’US legal expert, bringing experience and insight in compliance, U.S. federalcriminal law, securities and financial fraud, anti-money laundering, assetforfeiture, and federal trials.
TaaS tokens are intended to be traded on all major exchanges incoordination with exchanges and regulatory authorities. For more information,the TaaS white paper is available on www.taas.fund
