TaaS — Tokenized Closed-End Fund

[TaaS]

what you will do with the unsold coin?

Should be burned, it will definitely leeav some coins unsold, the price is too expensive, 1 dollar for 100 million supply, it is too overvalued. No future at all.

Please remember that market cap is calculated as price * number of tokens outstanding. If we manage to raise $101,000,000, that will be the cap of TaaS. If the number will be lower, there is no reason to believe that the company is overvalued. We leave room for anyone interested to participate in the project, and with feedback we have received so far we are really ambitious about our goals.  

The unsold coins WILL be destroyed. It is guaranteed by our technical partners Ambisafe (ambisafe.co).

[TaaS]

Few questions to TaaS team:

1. ICO structure:
-- Why do you set a fixed price to your token at $1? Why not $0.50 or $10?
Wouldn't it make more sense to have a fixed number of tokens, and let the ICO participants set the initial price (number of tokens/total funds raised)?
-- Why you decided to have a bonus structure based on total amount of funds collected and not based on time? It looks "pumpy", like those power hour bonuses. Wouldn't it make more sense to have a weekly based bonus decrease?

2. This Cryptographic Audit sounds a lot buzz words and nothing much. Please explain how it is more based on the following:
-Proof of Reserves - everybody is using the same exchanges, nothing "cryptographic" here
-Auditable Exchange accounts - good idea, how does a view-only API key fits into this bombastic buzz phrase "Cryptographic Audit"?
-Proof of reserve - basically you will provide the public address of the crypto asset, so people can the balance and transactions? Is there more than that in this "Cryptographic Audit" feature?


3. If I understood correctly, the smart contract will hold the funds, is that correct? If so, it is a BIG BIG BIG NO GO. We had The DAO fiasco, and smart contract holding and managing funds is still couple of years ahead.
If you think you can put all the honey in one pot and be smarter than the entire community - well, good luck. I can't see how investors will keep their funds in a smart contract.

4. Do you have an escrow?

thanks

Thank you for questions, Daparski.

1. There is a misunderstanding that a price of a token is high. In fact, $1 price in the context of itself means absolutely nothing -- the price was chosen arbitrarily so that every investor, no matter how large or small, could participate.

2. Please read white paper for more information to your questions. I will note that Cryptographic Audit is not a technology in itself, but a name for multiple monitoring and auditing techniques that we created and assembled. The goal of TaaS is to provide maximum transparency for investors to set high security standards for blockchain industry.

3. Smart contract does not hold any funds -- it only disperses them whenever they are deposited to it. Funds are stored cold-storage.

4. We have something better: HLB International (hlbi.com), a world-wide network of independent accounting firm and business advisors, will be holding a thorough audit of ICO's use of proceeds. It is a much safer way to protect investors from fraud.

[torikan]

Our introduction has been nice but the name has attracted attention. It's like a copy of Egaas

[Daparski]

Few questions to TaaS team:

1. ICO structure:
-- Why do you set a fixed price to your token at $1? Why not $0.50 or $10?
Wouldn't it make more sense to have a fixed number of tokens, and let the ICO participants set the initial price (number of tokens/total funds raised)?
-- Why you decided to have a bonus structure based on total amount of funds collected and not based on time? It looks "pumpy", like those power hour bonuses. Wouldn't it make more sense to have a weekly based bonus decrease?

2. This Cryptographic Audit sounds a lot buzz words and nothing much. Please explain how it is more based on the following:
-Proof of Reserves - everybody is using the same exchanges, nothing "cryptographic" here
-Auditable Exchange accounts - good idea, how does a view-only API key fits into this bombastic buzz phrase "Cryptographic Audit"?
-Proof of reserve - basically you will provide the public address of the crypto asset, so people can the balance and transactions? Is there more than that in this "Cryptographic Audit" feature?


3. If I understood correctly, the smart contract will hold the funds, is that correct? If so, it is a BIG BIG BIG NO GO. We had The DAO fiasco, and smart contract holding and managing funds is still couple of years ahead.
If you think you can put all the honey in one pot and be smarter than the entire community - well, good luck. I can't see how investors will keep their funds in a smart contract.

4. Do you have an escrow?

thanks

Thank you for questions, Daparski.

1. There is a misunderstanding that a price of a token is high. In fact, $1 price in the context of itself means absolutely nothing -- the price was chosen arbitrarily so that every investor, no matter how large or small, could participate.

2. Please read white paper for more information to your questions. I will note that Cryptographic Audit is not a technology in itself, but a name for multiple monitoring and auditing techniques that we created and assembled. The goal of TaaS is to provide maximum transparency for investors to set high security standards for blockchain industry.

3. Smart contract does not hold any funds -- it only disperses them whenever they are deposited to it. Funds are stored cold-storage.

4. We have something better: HLB International (hlbi.com), a world-wide network of independent accounting firm and business advisors, will be holding a thorough audit of ICO's use of proceeds. It is a much safer way to protect investors from fraud.

thanks for your response. I believe most questions are still unanswered.. (highlighted them for your convenience).

1.

In fact, $1 price in the context of itself means absolutely nothing

I am not a financial wizard, but it kind of makes me wonder.. How come the price that one pays means nothing?

Why not capping the number of tokens you will issue and let the ICO participants set their initial price?
The only asset you should set is the number of tokens (shares). The price of each share is not for you to decide, but for the ICO participants/market.
Still waiting for an answer about the second part - "Why you decided to have a bonus structure based on total amount of funds collected and not based on time?"

I will add a new ICO-related question, hope you don't mind:
Why not setting a cap for the ICO? You should know how much maximum funds you need and cap it accordingly. I mean a real, realistic cap target and not that 101,000,000 USD.


2. I am sorry, but all I see is more buzz words - "The goal of TaaS is to provide maximum transparency for investors to set high security standards for blockchain industry"
The view only APIs provide some level of transparency, but I am missing to see the high security standards.

What is so special about "Proof of Reserves"?
You anyway will need to use Poloniex, Kraken, and maybe another 1-2 major exchanges, like 99% of all traders do.
What am I missing here?

Another unanswered question:
Proof of reserve - basically you will provide the public address of the crypto asset, so people can view the balance and transactions? Is there more than that in this "Cryptographic Audit" feature?

3.

Smart contract does not hold any funds -- it only disperses them whenever they are deposited to it. Funds are stored cold-storage.

So the smart contract does not interact with the money in any way?
If so, who has control over the cold storage?

4. Escrow refers to money held by third-party on behalf of transacting parties.
I guess the question is Who will hold (have control, private keys and such) over the funds collected during the ICO?

[_nur]

still waiting for the GST number

[AmoreJaz]

its really too bad to see a good project get put to the sidelines! but obviously if your trying to sell something that nobody is interested in then it certainly wont be easy to make a profit

[hobbskevin]

I don't see how you plan to make money? Are you just trading existing tokens on exchanges and trying to make money that way to pay investors? If so does any of you have any trading experience and how are you planning to mitigate your risks? Are you using any hedging tools? Why do you need 101 million dollars? If you look at the altcoin markets over time even the very short time they have been around there is much volatility and unless you are pumping certain projects and market making how do you plan to still give value to your investors? If you are market making are you charging for these services and will you be transparent about who you are doing this for? If that's the case then it seem like you will be doing a lot of pump and dumps, can you explain that you will not be doing this?

I appreciate your answers as I'm interested in how you are running this fund.

[4rzun4]

I hope the Crowdsale soon will be escrow provided, so investors will be more confident to invest in this project and they thought it would be safer

[hobbskevin]

I hope the Crowdsale soon will be escrow provided, so investors will be more confident to invest in this project and they thought it would be safer

Why would anyone invest in this? They don't even tell you what you're investing in, it sounds like they are just trying to get peoples money so they can go gamble it on the exchanges.

[shinratensei_]

Hey, taas.

If we are trying to look into the other ico with fixed rate for his token, such as like what are you doing with your taas token. at the end of the ico journey, the price of the token is depending on the total fund has raised.
 Example: I was paying the fixed rate of coin for 1000 satoshi and after his crowdfunding already finish and the final price of coin just worth for 10 satoshi. And that's shit.

[hobbskevin]

I don't see any answers from this team. Do they have someone that is in charge of this? The article in Forbes is the only news I see and it looks like a paid add, why is there no other press on this?

[TaaS]

I don't see any answers from this team. Do they have someone that is in charge of this? The article in Forbes is the only news I see and it looks like a paid add, why is there no other press on this?

Forbes is not the only media coverage we've got.   Check out these links:

http://www.financemagnates.com/cryptocurrency/innovation/taas-developing-bloomberg-like-cryptocurrency-portfolio-management-platform/

http://financefeeds.com/pr/taas-first-fully-transparent-closed-end-fund-dedicated-blockchain-assets-announces-ico/

http://paymentweek.com/2017-2-2-taas-the-first-fully-transparent-closed-end-fund-dedicated-to-blockchain-assets-announces-ico/

http://www.banklesstimes.com/2017/02/04/saas-announces-initial-coin-offering/

I hope the Crowdsale soon will be escrow provided, so investors will be more confident to invest in this project and they thought it would be safer

Why would anyone invest in this? They don't even tell you what you're investing in, it sounds like they are just trying to get peoples money so they can go gamble it on the exchanges.

In a previous post I explained how HLB International (hlbi.com) will be doing a thorough audit of ICO use of proceeds. It is an analogue for escrow, but MUCH safer from investor's standpoint.

I don't see how you plan to make money? Are you just trading existing tokens on exchanges and trying to make money that way to pay investors? If so does any of you have any trading experience and how are you planning to mitigate your risks? Are you using any hedging tools? Why do you need 101 million dollars? If you look at the altcoin markets over time even the very short time they have been around there is much volatility and unless you are pumping certain projects and market making how do you plan to still give value to your investors? If you are market making are you charging for these services and will you be transparent about who you are doing this for? If that's the case then it seem like you will be doing a lot of pump and dumps, can you explain that you will not be doing this?

I appreciate your answers as I'm interested in how you are running this fund.

Please take a look at our Investment Methodology in the white paper (http://taas.fund/media/whitepaper.pdf). It will answer all  your questions, including our income streams, hedging instruments. We will not be involved in any pump-and-dump schemes. It will be very easy to validate because TaaS utilizes Cryptographic Audit, making the fund fully transparent. Let me know if you have any questions about white paper.

still waiting for the GST number

I did not forget about it -- our legal partners are currently finalizing some documents and will get back to us with registration number mid-week. Will update you on it.

Few questions to TaaS team:

1. ICO structure:
-- Why do you set a fixed price to your token at $1? Why not $0.50 or $10?
Wouldn't it make more sense to have a fixed number of tokens, and let the ICO participants set the initial price (number of tokens/total funds raised)?
-- Why you decided to have a bonus structure based on total amount of funds collected and not based on time? It looks "pumpy", like those power hour bonuses. Wouldn't it make more sense to have a weekly based bonus decrease?

2. This Cryptographic Audit sounds a lot buzz words and nothing much. Please explain how it is more based on the following:
-Proof of Reserves - everybody is using the same exchanges, nothing "cryptographic" here
-Auditable Exchange accounts - good idea, how does a view-only API key fits into this bombastic buzz phrase "Cryptographic Audit"?
-Proof of reserve - basically you will provide the public address of the crypto asset, so people can the balance and transactions? Is there more than that in this "Cryptographic Audit" feature?


3. If I understood correctly, the smart contract will hold the funds, is that correct? If so, it is a BIG BIG BIG NO GO. We had The DAO fiasco, and smart contract holding and managing funds is still couple of years ahead.
If you think you can put all the honey in one pot and be smarter than the entire community - well, good luck. I can't see how investors will keep their funds in a smart contract.

4. Do you have an escrow?

thanks

Thank you for questions, Daparski.

1. There is a misunderstanding that a price of a token is high. In fact, $1 price in the context of itself means absolutely nothing -- the price was chosen arbitrarily so that every investor, no matter how large or small, could participate.

2. Please read white paper for more information to your questions. I will note that Cryptographic Audit is not a technology in itself, but a name for multiple monitoring and auditing techniques that we created and assembled. The goal of TaaS is to provide maximum transparency for investors to set high security standards for blockchain industry.

3. Smart contract does not hold any funds -- it only disperses them whenever they are deposited to it. Funds are stored cold-storage.

4. We have something better: HLB International (hlbi.com), a world-wide network of independent accounting firm and business advisors, will be holding a thorough audit of ICO's use of proceeds. It is a much safer way to protect investors from fraud.

thanks for your response. I believe most questions are still unanswered.. (highlighted them for your convenience).

1.

In fact, $1 price in the context of itself means absolutely nothing

I am not a financial wizard, but it kind of makes me wonder.. How come the price that one pays means nothing?

Why not capping the number of tokens you will issue and let the ICO participants set their initial price?
The only asset you should set is the number of tokens (shares). The price of each share is not for you to decide, but for the ICO participants/market.
Still waiting for an answer about the second part - "Why you decided to have a bonus structure based on total amount of funds collected and not based on time?"

I will add a new ICO-related question, hope you don't mind:
Why not setting a cap for the ICO? You should know how much maximum funds you need and cap it accordingly. I mean a real, realistic cap target and not that 101,000,000 USD.


2. I am sorry, but all I see is more buzz words - "The goal of TaaS is to provide maximum transparency for investors to set high security standards for blockchain industry"
The view only APIs provide some level of transparency, but I am missing to see the high security standards.

What is so special about "Proof of Reserves"?
You anyway will need to use Poloniex, Kraken, and maybe another 1-2 major exchanges, like 99% of all traders do.
What am I missing here?

Another unanswered question:
Proof of reserve - basically you will provide the public address of the crypto asset, so people can view the balance and transactions? Is there more than that in this "Cryptographic Audit" feature?

3.

Smart contract does not hold any funds -- it only disperses them whenever they are deposited to it. Funds are stored cold-storage.

So the smart contract does not interact with the money in any way?
If so, who has control over the cold storage?

4. Escrow refers to money held by third-party on behalf of transacting parties.
I guess the question is Who will hold (have control, private keys and such) over the funds collected during the ICO?

We decided to base the bonus structure on the amount of capital raised and not on time, because we are an investment fund and it makes more sense to dilute supply with bonuses based on our operating capital. Bonuses could be based on time but we believe it would be unfair towards investors, however we indeed considered it initially.

You are right, a view-only API key is not the "high security" technology -- but we still decided to include it to offer those investors who do not have technical capabilities to validate other tools still have an opportunity to watch our trading activity.

Yes, while most of the trading volume is happening on Poloniex and Kraken -- you are right -- no investment fund is using Proof of Reserves tool to validate account balances. This is the primary difference that separates us from the crowd.

Chief executive team will be holding access to operating funds.

Let me know if I missed anything, or you have further comments.

[hobbskevin]

I don't see any answers from this team. Do they have someone that is in charge of this? The article in Forbes is the only news I see and it looks like a paid add, why is there no other press on this?

Forbes is not the only media coverage we've got.   Check out these links:

http://www.financemagnates.com/cryptocurrency/innovation/taas-developing-bloomberg-like-cryptocurrency-portfolio-management-platform/

http://financefeeds.com/pr/taas-first-fully-transparent-closed-end-fund-dedicated-blockchain-assets-announces-ico/

http://paymentweek.com/2017-2-2-taas-the-first-fully-transparent-closed-end-fund-dedicated-to-blockchain-assets-announces-ico/

http://www.banklesstimes.com/2017/02/04/saas-announces-initial-coin-offering/

I hope the Crowdsale soon will be escrow provided, so investors will be more confident to invest in this project and they thought it would be safer

Why would anyone invest in this? They don't even tell you what you're investing in, it sounds like they are just trying to get peoples money so they can go gamble it on the exchanges.

In a previous post I explained how HLB International (hlbi.com) will be doing a thorough audit of ICO use of proceeds. It is an analogue for escrow, but MUCH safer from investor's standpoint.

I don't see how you plan to make money? Are you just trading existing tokens on exchanges and trying to make money that way to pay investors? If so does any of you have any trading experience and how are you planning to mitigate your risks? Are you using any hedging tools? Why do you need 101 million dollars? If you look at the altcoin markets over time even the very short time they have been around there is much volatility and unless you are pumping certain projects and market making how do you plan to still give value to your investors? If you are market making are you charging for these services and will you be transparent about who you are doing this for? If that's the case then it seem like you will be doing a lot of pump and dumps, can you explain that you will not be doing this?

I appreciate your answers as I'm interested in how you are running this fund.

Please take a look at our Investment Methodology in the white paper (http://taas.fund/media/whitepaper.pdf). It will answer all  your questions, including our income streams, hedging instruments. We will not be involved in any pump-and-dump schemes. It will be very easy to validate because TaaS utilizes Cryptographic Audit, making the fund fully transparent. Let me know if you have any questions about white paper.

still waiting for the GST number

I did not forget about it -- our legal partners are currently finalizing some documents and will get back to us with registration number mid-week. Will update you on it.

Few questions to TaaS team:

1. ICO structure:
-- Why do you set a fixed price to your token at $1? Why not $0.50 or $10?
Wouldn't it make more sense to have a fixed number of tokens, and let the ICO participants set the initial price (number of tokens/total funds raised)?
-- Why you decided to have a bonus structure based on total amount of funds collected and not based on time? It looks "pumpy", like those power hour bonuses. Wouldn't it make more sense to have a weekly based bonus decrease?

2. This Cryptographic Audit sounds a lot buzz words and nothing much. Please explain how it is more based on the following:
-Proof of Reserves - everybody is using the same exchanges, nothing "cryptographic" here
-Auditable Exchange accounts - good idea, how does a view-only API key fits into this bombastic buzz phrase "Cryptographic Audit"?
-Proof of reserve - basically you will provide the public address of the crypto asset, so people can the balance and transactions? Is there more than that in this "Cryptographic Audit" feature?


3. If I understood correctly, the smart contract will hold the funds, is that correct? If so, it is a BIG BIG BIG NO GO. We had The DAO fiasco, and smart contract holding and managing funds is still couple of years ahead.
If you think you can put all the honey in one pot and be smarter than the entire community - well, good luck. I can't see how investors will keep their funds in a smart contract.

4. Do you have an escrow?

thanks

Thank you for questions, Daparski.

1. There is a misunderstanding that a price of a token is high. In fact, $1 price in the context of itself means absolutely nothing -- the price was chosen arbitrarily so that every investor, no matter how large or small, could participate.

2. Please read white paper for more information to your questions. I will note that Cryptographic Audit is not a technology in itself, but a name for multiple monitoring and auditing techniques that we created and assembled. The goal of TaaS is to provide maximum transparency for investors to set high security standards for blockchain industry.

3. Smart contract does not hold any funds -- it only disperses them whenever they are deposited to it. Funds are stored cold-storage.

4. We have something better: HLB International (hlbi.com), a world-wide network of independent accounting firm and business advisors, will be holding a thorough audit of ICO's use of proceeds. It is a much safer way to protect investors from fraud.

thanks for your response. I believe most questions are still unanswered.. (highlighted them for your convenience).

1.

In fact, $1 price in the context of itself means absolutely nothing

I am not a financial wizard, but it kind of makes me wonder.. How come the price that one pays means nothing?

Why not capping the number of tokens you will issue and let the ICO participants set their initial price?
The only asset you should set is the number of tokens (shares). The price of each share is not for you to decide, but for the ICO participants/market.
Still waiting for an answer about the second part - "Why you decided to have a bonus structure based on total amount of funds collected and not based on time?"

I will add a new ICO-related question, hope you don't mind:
Why not setting a cap for the ICO? You should know how much maximum funds you need and cap it accordingly. I mean a real, realistic cap target and not that 101,000,000 USD.


2. I am sorry, but all I see is more buzz words - "The goal of TaaS is to provide maximum transparency for investors to set high security standards for blockchain industry"
The view only APIs provide some level of transparency, but I am missing to see the high security standards.

What is so special about "Proof of Reserves"?
You anyway will need to use Poloniex, Kraken, and maybe another 1-2 major exchanges, like 99% of all traders do.
What am I missing here?

Another unanswered question:
Proof of reserve - basically you will provide the public address of the crypto asset, so people can view the balance and transactions? Is there more than that in this "Cryptographic Audit" feature?

3.

Smart contract does not hold any funds -- it only disperses them whenever they are deposited to it. Funds are stored cold-storage.

So the smart contract does not interact with the money in any way?
If so, who has control over the cold storage?

4. Escrow refers to money held by third-party on behalf of transacting parties.
I guess the question is Who will hold (have control, private keys and such) over the funds collected during the ICO?

We decided to base the bonus structure on the amount of capital raised and not on time, because we are an investment fund and it makes more sense to dilute supply with bonuses based on our operating capital. Bonuses could be based on time but we believe it would be unfair towards investors, however we indeed considered it initially.

You are right, a view-only API key is not the "high security" technology -- but we still decided to include it to offer those investors who do not have technical capabilities to validate other tools still have an opportunity to watch our trading activity.

Yes, while most of the trading volume is happening on Poloniex and Kraken -- you are right -- no investment fund is using Proof of Reserves tool to validate account balances. This is the primary difference that separates us from the crowd.

Chief executive team will be holding access to operating funds.

Let me know if I missed anything, or you have further comments.

I read your whitepaper and it does not properly outline your investing methodology its just buzz words. Also what procedures are you taking to know that you are not involved in a pump and dump and how can you not be manipulating the markets yourself with that much money? What is your teams experience with trading, hedging, day trading, etc?

[TaaS]

Great news!

TaaS is speaking at The Blockchain Event in Florida on Feb 9th!

Find out more at: http://www.theblockchainevent.com/east/ .

[bms2013]

Great news!

TaaS is speaking at The Blockchain Event in Florida on Feb 9th!

Find out more at: http://www.theblockchainevent.com/east/ .

http://www.theblockchainevent.com/east/speakers.aspx

[ArpFlush]

Discovered this via a Forbes post at Linkedin and following on the sidelines (together with Melonport). I'm Iconomi investor and would love to see these three compared with each other. Who takes the challenge? 

[zahra4577]

$1 is not high price as another ICO choronoBank has now nearly $10 price per token at current bitcoin price.What is good with TAAS is they have fixed price in dollar and not in bitcoin so with increasing bitcoin price,one does not need to pay more bitcoin.

[icorating]

Hello all,

We are the ICOrating team.

We’re creating the most detailed database of every company that is having, or planning to have, an ICO. We’re also developing ratings and analytical reports that will increase potential investors’ awareness on such companies.

We’re happy to announce that TaaS is now listed on our website. Check it out here http://icorating.com/project/48/TaaS

We appreciate any feedback. Please feel free to contact us if there are any additions/corrections you want to insert.

[TaaS]

Great news, ICO Rating!

Let us know if we can help.

[metropolia]

Great news!

TaaS is speaking at The Blockchain Event in Florida on Feb 9th!

Find out more at: http://www.theblockchainevent.com/east/ .

Great, after you guys have shown your real faces and have conversations with people, we will be more confident to trust your project, and invest money in this project, wish you good luck, to raise more fund as possible.