TaaS Completes Audit of $7.6M ICO

Announcements, FinTech, ICO News, Investing | June 7, 2017 By:

Token as a Service (TaaS), a closed-end fund dedicated solely to blockchain assets, has completed the independent audit of its initial coin offering (ICO). The audit has been completed by accounting and consulting company Grant Thornton LLC.

The TaaS ICO, which closed on April 27, raised the equivalent of $7,569,373.61 USD, stored in 3,536.674 BTC, 45,273.50 ETH, and 193,562.032 USDT. The current portfolio value is equivalent to $15,423,468.44 USD. Investors received 1 TaaS token for every $1 USD. TaaS offered a 25% bonus for the first 1,000 BTC invested, with the bonus structure decreasing progressively up to 9,000 BTC. A total of 8,146,001 TaaS tokens was issued during the ICO.

“TaaS selected Grant Thornton as its external auditor not only because of its reputation as one of the world’s top independent advisory firms, but also due to its in-depth knowledge of blockchain assets and the cryptocurrency market,” said TaaS president and co-founder Ruslan Gavrilyuk. “With clients based in 130 countries worldwide, Grant Thornton has the requisite expertise in the global blockchain space to ensure that its findings are most valuable to TaaS investors and spectators. The independent audit ensures investors have full transparency into the ICO results including the total number of tokens issued and in circulation, the exact capital amount raised, the use of proceeds, and the proper token listing on crypto exchanges LiveCoin and Kuna.”

TaaS tokens are currently trading on exchanges LiveCoin, Liqui, and HitBTC at $1.72. The tokens are built on a profit-sharing ethereum smart contract, which offers investors 50% of the fund’s quarterly earnings. TaaS reinvests 25% of profits back into the fund in order to increase the fund’s capital pool without requiring additional investments. The first payouts are expected to be distributed in August.

TaaS launched a publicly-available technology called Cryptographic Audit. Cryptographic Auditing will allow token holders to monitor the performance of the fund in near real time without prior blockchain experience. The technology will ensure that all profits are properly recorded, money flow is transparent, and the company is in possession of all declared funds.

“Our team of experienced traders and analysts is constantly researching the most viable token crowdsales in order to deliver substantial results to the TaaS investor community,” said Gavrilyuk. “TaaS would like to thank all 3,942 of its investors, supporters, and contributors who joined our effort to bring this innovative fund structure to market.”