to Accelerate Fundraising for Promising Blockchain Projects

February 19, 2018 — Singapore — Token-as-a-Service (TaaS), the first-ever tokenized closed-end fund dedicated to blockchain assets, announced today its contribution to Iconiq Lab, a global initial coin offering (ICO) and token-sale accelerator program.

Iconiq Lab aims to identify the most promising crypto and blockchain projects, and partner with them to accelerate their fundraising event launch. The accelerator meets the high demand for proper due diligence on startups issuing coins or tokens, and provides investors the necessary confidence in the integrity of the projects and their investment value.

Patrick Lowry, CEO and co-founder of Iconiq Lab, commented, “I don’t know which is more exciting, the amazing investor feedback we have received in our first presale, or that our startups have finally joined us in Frankfurt for the accelerator program. We are excited to launch our full token sale and accelerator program and can’t wait to support our startup’s ICOs. There are exciting times ahead for Iconiq Lab, its ever-growing community, and the ICNQ token holders!”

Iconiq Lab issues the ICNQ Club membership token, fundraising to launch, optimize and scale the accelerator program. The token works as the instrument used to fund and grow the accelerator for the benefit of its token members. Iconiq Lab has recently closed the presale of its ICNQ token for institutional and private investors. TaaS joins the event with a contribution of 115.48 ETH. The funds raised will be used to finance the first batch of startups for the accelerator program, which has begun on February 18, 2018.

In September, 2017, TaaS and Iconiq Lab signed a strategic partnership to identify promising projects and create the infrastructure to match ICOs and investors. Additionally, the TaaS team took an active role on the advisory board of Iconiq Lab.

Dimitri Chupryna, co-founder and Managing Partner of TaaS, said, “TaaS’ contribution to Iconiq Lab represents a logical development and continuation of the collaboration we began half a year ago. We are interested in the establishment of a favorable environment for smart investments in promising blockchain projects. Iconiq Lab fulfills this objective for the growth capital TaaS aims to provide. Their team of experienced VCs and investment managers have the skills to evaluate and launch successful ICOs for early-stage companies. Their business model of creating tangible and sustainable investment products in the crypto economy is something the markets sorely need. “

Iconiq Lab is the first project TaaS contributed to during the fourth fully-operational quarter. TaaS concluded its third fully-operational quarter on January 31st, 2018 with significant total asset value growth of 364%, to 50.75 million USD(T) equivalent, thus outperforming Bitcoin by 205%. TaaS’ capital gains for the period exceeded 22.2 million USD(T) equivalent, which generated a 293% ROA. For the first and second quarters, these indicators were: 4.6 million USD(T) generating a 61% ROA, and 5.6 million USD(T) generating a 72% ROA.

The TaaS token (TAAS) is currently trading at the price of 6.84 USD(T) per 1 TAAS, resulting in a market capitalization of over 55.7 million USD(T) equivalent. The tokens are listed on the following exchanges: Bancor Protocol, Orderbook, Livecoin, EtherDelta, HitBTC, CoinExchange and Liqui.