TaaS, a tokenized closed end fund dedicated to blockchain assets, has concluded its Initial Coin Offering (ICO) with about $7.7 million raised from 3761 investors. Specifically, 3,424 BTC, 45,180 ETH, 192,562 USDT (Tether) and $43,368 USD were invested in the platform during the ICO.
President and co-founder of TaaS Ruslan Gavrilyuk said: “TaaS is extremely pleased with the successful crowdsale result, which garnered a high degree of public interest well before the ICO opened. The investment rate reflects the strong market demand for a platform that reduces the barriers to entry for investing in cryptocurrencies, a niche that TaaS has now filled.”
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“TaaS would like to thank the community for the enormous show of support it received and reaffirm its commitment obtaining the highest yields possible for its investors. As the token is integrated with exchanges Kuna and Livecoin today, with further exchanges becoming available soon, investors can benefit from easy, fully transparent and convenient access to the vast cryptocurrency market,” he added.
TaaS token-owners will collect 50% of quarterly earnings in ETH via an Ethereum smart contract. To grow the capital pool without attracting additional investment, 25% of earnings will be reinvested back into the fund.
Gavrilyuk concluded: “TaaS is proud to launch the token into the market and offer investors a new way to participate and benefit from the growing blockchain space. We trust the high degree of transparency and user-friendly experience provided by the Cryptographic Audit feature will set a new standard for future ICOs.”
A portion of the funds raised will be dedicated to developing Kepler, a Bloomberg-like platform for cryptocurrency investors.