TaaS - FAQ


About TaaS

What is TaaS and what is its function?

Token-as-a-Service (TaaS) is a last-generation tokenized closed-end fund, actively contributing to the development of the blockchain ecosystem. TaaS introduces an innovative Token-as-a-Service business model that allows TAAS token holders to capitalize on the rise of blockchain markets without the hurdles, risks and technical barriers associated with owning, transferring and trading cryptocurrencies and tokens.

With so many barriers of investing in the blockchain and cryptocurrencies, how does TaaS’ model reduce risks?

Investors interested in exploring blockchain markets face several problems, including a lack of market understanding and transparency in existing investment solutions. By being the first, truly transparent closed-end fund on the market, TaaS offers a solution to these issues. To provide TAAS token holders with maximum transparency into non-Ethereum token investments, TaaS built an in-house Cryptographic Audit technology, which is a set of autonomous auditing techniques that track, record and timestamp fund activity. The technology ensures that all profits are properly recorded, money flow is transparent, and the company maintains possession of all declared funds.

What is the difference between closed-end and open-end funds? Why choose this route?

Unlike open-end funds, a closed-end fund does not create new shares to meet ongoing demand from investors. Shares may only be sold or purchased in the market. The price of these shares often trades at a premium or discount, depending on the fund’s performance expectations. Thus, TaaS was open for investments only during its Token Sale event. The amount of tokens sold is fixed.

What are some of the benefits to a token-based CEF?

The immutability of a blockchain allows unprecedented levels of transparency, impossible in legacy financial institutions insofar as such transparency would eliminate the agency problem. TAAS tokens are built on a profit-sharing Ethereum smart contract, making it virtually impossible for any human to intervene in the process.

How exactly was this "new way" of capital raising achieved? How is full auditing transparency achieved and what are the basic mechanics of the technology to facilitate that?

A token sale (or Initial Coin Offering) is a unique way for early adopters and backers to join new blockchain projects by acquiring a certain amount of the initial coin supply. TaaS has become the first tokenized closed-end fund to use Token Sale Event to increase capital and make participation available to everyone. TaaS’ Token Sale proceeds were independently audited by Grant Thornton. To provide maximum transparency in the fund’s capital management, TaaS has recently built an in-house Cryptographic Audit (CA).

How specifically are Ethereum smart contracts used with TaaS?

TAAS tokens are built on profit-sharing Ethereum smart contract, which offers token owners 50% of the quarterly capital gains. TaaS reinvests 25% of capital gains in order to increase the capital pool without requiring additional token sales. The premise is that with the gradual increase in the Net Asset Value (NAV) of token increases over time, the fund is therefore explicitly tied to the performance of their parent structure.

7 - How specifically are Ethereum smart contracts used with TaaS?

Smart contracts are built to design and govern a profit-sharing program. Every 3 months, a designated smart contract will disperse 50% of TaaS fund profits, equally spread out over the number of outstanding tokens. Intuitively, it implies that investors with a larger share of tokens will receive a higher return.

Do TAAS tokens have a name?

Yes, TAAS tokens go by the same name: TAAS.

Is it true that TaaS has 100% token distribution?

Yes. All TAAS tokens are held by individual investors. Tokens which had not been sold during the Token sale were burnt; TaaS does not hold any tokens.

What is the purpose of 100% token distribution?

TAAS tokens are a service that allows subscribing to the company’s capital gains. We have sold 100% of the tokens because we generate profit not from tokens, but from operations across blockchain markets. It makes no sense to keep the tokens internally.
In addition, it adds transparency to the company: because we do not hold any tokens, investors can feel more secure that developers or founders will not "dump" tokens into the market, which would inflate the supply and drive the price down.

How much was raised during the Token Sale?

TaaS’ token sale event concluded on April 27th, 2017 and attracted 3,942 participants who contributed $7,569,371.61, valued in USD(T) on April 27th. As a result of the sale, 8,146,000.78 tokens were distributed while the rest of the initially created 101 million tokens were burnt. The price of the tokens (including bonuses) during the sale ranged from 0.8 to 1.0 USD(T)/TAAS.

I don’t know anything about the TaaS team. Where can I find some information?

Check out the team: https://www.taas.fund/founders.

Where is TaaS' headquarters based?

TaaS is incorporated in Singapore, with its head office in Kyiv, Ukraine.

Who comprises TaaS’ Board of Advisors?

- Fund management expert John Wong, formerly an investment banker at Lehman Brothers, with more than 25 years of experience taking companies public and managing funds as a legal consultant.

- Sergey Rabenko, a legal consultant at the International Finance Corporation (a member of the World Bank Group), with more than 12 years’ experience advising on legal and tax issues, as well as mergers and acquisitions.

- Global banking expert Patrick Salm. Salm has more than four years’ experience in blockchain technology and a track record of more than 10 years of success with large, global banks where he took on leading roles. Salm is currently Strategic Risk Manager and Business Analyst at BANK-now AG, a Credit Suisse Group subsidiary, where he provides analysis and optimization of risk-relevant business processes and applications.

- Serial entrepreneur and investor Mike Costache. He is the co-founder and managing partner of KrowdMentor, a strategic crowdfunding and investment firm. Since 2011, he has been a member of Tech Coast Angels, the oldest and largest network of angel investors, which has invested $185 million in more than 300 deals and raised more than $1.5 billion from venture capitalists.

- Blockchain technology and digital currency trading expert Marshall Swatt. Swatt is the founder and major investor at ATS Inc., a pioneer in algorithmic trading systems focused on strategies in exotic financial instruments such as cryptocurrencies. As the former CTO of Coinsetter and Cavirtex, North America’s leading VC-backed bitcoin exchanges, Swatt has more than 20 years of strategy, operations, business development and technical experience.

- Legal expert Arnold A. Spencer is Managing Director of Spencer & Associates, a corporate criminal defence firm, and General Counsel at Coinsource, the world’s largest bitcoin ATM network. Spencer brings experience and insight in compliance, U.S. federal criminal law, securities and financial fraud, anti-money laundering, asset forfeiture and federal trials.

- Blockchain architect Andrii Zamovsky, the founder and CEO of Ambisafe Inc. Andrii has been involved in the blockchain industry since early 2010 and has founded multiple successful blockchain companies, including Ambisafe and Orderbook. Andrii has also been a lead blockchain architect in the creation of Tether and dozens of other companies.

- Smart-contract engineer Oleksii Matiiasevych. Matiiasevych is Ethereum architect at Ambisafe Inc. He has made more than 50 smart contracts part of which are heavily used in live products.

- Legal advisor Nazar Polyvka. Polyvka is the co-founder and partner of Axon Partners, a law firm, which serves technocratic business. He’s experienced adviser on legal issues in high-tech, intellectual property, venture investment, electronic and cryptocurrencies.

- David Wachsman, the founder & CEO of Wachsman PR, the world’s largest PR agency focusing on the fintech. David has served as the PR arm, and strategic advisor to more than sixty businesses including equity crowdfunding, real estate investments, crypto-assets, alternative assets, and publicly traded companies.

- Marketing advisor Alexander Rugaev. Rugaev is CEO of ICOpromo. He is a serial entrepreneur, seed investor in blockchain projects and ICO/crowdfunding expert.

Do you have any limitations as to which jurisdictions can invest?

You are only allowed to purchase TAAS tokens if you are neither a Singapore citizen or U.S. citizen or permanent resident of the United States, nor have a primary residence or domicile in the United States, including Puerto Rico, the U.S. Virgin Islands, and any other territories of the United States. Please, refer to TaaS Term and Conditions: https://taas.fund/terms

TaaS Performance

What kind of activities make up the portfolios in TaaS?

TaaS is an active player in blockchain markets. The operations of the fund’s active Portfolio include trading cryptoassets and cryptocurrencies on major exchanges, fixed income operations from cryptocurrencies, and participation in Token Generation Events (TGEs) or Initial Coin Offerings (ICO) as coined by the media. TaaS is interested in contributing to blockchains built by progressive-thinking teams that solve crucial real-world problems, or are pioneering and stretching the limits of the blockchain.

What projects has TaaS already contributed to? What currencies are in TaaS’ portfolio? Can you disclose specific names of assets, cryptocurrencies and companies?

TaaS is an active player in blockchain markets, trading cryptocurrencies and tokens. TaaS is interested in contributing to the most promising blockchain projects. All information about TaaS activities is public. You may check announcements at TaaS’ Medium blog: https://medium.com/taas. TaaS portfolio can be checked with Crypto Audit: https://ca.taas.fund.

What does TaaS recommend… Will TaaS contribute to…?

TaaS does not and cannot act as an advisor, including as to any financial, legal, investment, insurance, procedural and/or tax matters. None of TaaS' contributions can be announced before the agreement is signed/transaction is made. TaaS’ official releases follow shortly afterwards. TaaS never discusses intentions, only actions.

I have a project I think TaaS may be interested in

Here’s the form to submit for contribution: https://www.taas.fund/fund/contribution. You are also welcome to send an email directly to [email protected]

TaaS Quarterly Payouts

What is the payout?

TAAS token holders receive 50% of TaaS capital gains quarterly, referred to as “payout.”.

How does the smart contract know where to send the funds? Do the tokens have to be in a wallet to get paid?

The payouts are sent quarterly, in the form of ETH, directly to all the addresses holding TAAS tokens at the moment of the snapshot. Tokens may be stored in TAAS Wallet, MyEtherWallet (including wallets integrated with MEW), or desktop wallet (Mist, Parity or another) or hardware wallets (Trezor and Ledger).

Detailed instruction are published several weeks before the payout. Please make sure you are subscribed to TaaS newsletter here: https://www.taas.fund/community. The instructions are available at https://medium.com/Taas

I read that 50% of profits go to payouts while 25% are reinvested in the portfolio. What happens with the remaining 25%?

The remaining 25% is recorded for the company as the team’s income (e.g. to cover operational costs and other expenses). These funds are also used to build Kepler.

What is the expected payout per 1 TAAS token?

The amount of payout is announced together with the TaaS Quarterly Report.

I’m not sure if I got my payout. Where can I find it?

You may easily validate any transaction through Etherscan using your address. Click the Internal transaction tab. If you are sure you followed the instruction, but didn’t receive the payout, please contact our support team using chatbox in the bottom right corner of the TAAS Wallet website: https://wallet.taas.fund

Where can I find the quarterly reports?

TaaS quarterly reports are open to the public at https://medium.com/@Taas together with official press releases regarding the end of the quarter.

About Cryptographic Audit

More about Cryptographic Audit (CA)?

To provide maximum transparency and high-security standards for money flow, TaaS built an in-house Cryptographic Audit (CA). It is a set of monitoring tools that allow any member of the public, regardless of TAAS token ownership, to validate TaaS’ portfolio balances and history easily. This technology is available at https://ca.taas.fund

About Kepler

What is Kepler?

Kepler is a single-entry Intelligence platform created by the TaaS team. The platform provides investment, management and communication tools for blockchain markets, and has been developing by utilizing in-house resources of the TaaS team.

Does the profit from Kepler go to TAAS token holders as well?

Kepler is a separate entity developed by its own team. Though it is managed by TaaS co-founders, none of TaaS' resources is used for Kepler’s development, so no profit from Kepler is distributed to TAAS token holders.

What is the ETA for Kepler?

News about Kepler’s development are coming soon. Subscribe on the newsletter for updates here: https://kepler.finance

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