Token-as-a-Service (TaaS), a tokenized blockchain asset fund, today announced the decision to terminate Token-as-a-Service and distribute assets to token owners, and move over to developing new products and services. The team says it 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. The team played a pioneering role in the development of the blockchain ecosystem through the following main activities:
- contributed the equivalent of 10.5 million USDT 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 so far;
- 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 USDT equivalent) by over 23 million USDT equivalent while the total gains exceeded 32.5 million USDT equivalent, resulting in an aggregated 780% annual growth rate. TaaS is expected to exceed 16.5 million USDT equivalent in quarterly distributions, as a result of the 24 months of operations, thus providing over 220% ROI and 275% ROA.
“I am proud of our team for continuously over performing the blockchain market benchmarks and generating alfa. We love this constantly evolving industry and will stay dedicated to blockchain and cryptocurrency. I would also like to express my gratitude to 15,000+ community members for placing their trust in us”, said Ruslan Gavrilyuk, co-founder and President of TaaS.
At the beginning of May 2019, TaaS will publish the results of its eighth and final fully-operational quarter (Feb 1 — Apr 30). The token membership wind-down procedure will commence immediately, and the underlying assets will be distributed to the users who have completed the Authorization procedure in accordance with TaaS Compliance Policy.
At the time of this publication, total assets are 10.72 million USDT equivalent while the total supply of TaaS tokens is 8,146,000.78. The exact payout amounts allocated for the final distribution will be published at the beginning of May.
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.