TaaS: The First-Ever Tokenized Closed-End Fund Shows 780% Annual Growthhttps://medium.com/taas/taas-the-first-ever-tokenized-closed-end-fund-shows-780-annual-growth-e04f2ede3b48June 4th, 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 first fully-operational year (ending April 30th, 2018), outperforming two target benchmarks including Bitcoin, by 60%, and the Big-2 (Bitcoin and Ethereum), by 43%.
As a result of the first year of operations of Token-as-a-Service, the net asset value was increased by over 23 million USD(T) equivalent, and the total capital gains exceeded 32.5 million USD(T) equivalent, bringing an aggregated 780% annual growth rate.
In accordance with the TAAS token model, 50% share of the capital gains equivalent of 16.3 million USD(T) or 2 USD(T) per token was allocated to the token owners and distributed in the form of Ethereum (a total of 30.6 thousand ETH) in August 2017, November 2017, February 2018 and May 2018 respectively; 25% of the gains equivalent to 8.1 million USD(T) were retained in the active portfolio.
During its first year, TaaS effectively utilized a number of active portfolio management tools and strategies, including risk-weighted diversification into strategic asset classes, rebalancing, intra-day trading and taking swing positions at cryptocurrency exchanges. A substantial part of TaaS efforts was focused on deal origination and participation in token sales.
As a part of its day-to-day activities, TaaS developed and utilized its in-house due diligence and deal origination expertise, having screened over a thousand prospective blockchain startups at their early stages, around 140 of which were shortlisted. After comprehensive due diligence on the projects’ financial, technical and legal aspects etc., an aggregate of over 10 million USD(T) equivalent was contributed to 35 selected projects including EOS, Bancor, Vimana, Icon, Singularity.net, SALT, TenX and others.
In order to provide transparency and visibility of its activities, TaaS launched and maintains the in-house technology known as the Cryptographic Audit (CA), a set of monitoring tools accessible by any member of the public who currently owns or is considering the purchase of TAAS tokens:
https://taas.fund/audit/.
The CA is fine-tuned to provide its users with up-to-date information on the underlying assets held on crypto wallets and trading accounts on exchanges and platforms, details of the early-stage contributions and other assets with limited liquidity, as well as the list of wallets used by TaaS.
As of April 30th, 2018, the token price equaled an equivalent of 5.5 USD(T)/TAAS, providing approximately 500% ROI to the participants of its token sale held in March-April 2017 (the price of the tokens during the sale ranged from 0.8 to 1.0 USD(T) equivalent per TAAS), and a market capitalization of over 45 million USD(T) equivalent.
The total circulating supply of TAAS tokens amounts to 8,146,000.78. TAAS tokens are currently listed on the following exchanges/platforms: Liqui, HitBTC, Bancor Protocol, Livecoin, CoinExchange, EtherDelta and Orderbook.