TaaS, a tokenized closed-end fund dedicated to blockchain assets, has raised over $7.9 million in its Initial Coin Offering (ICO) drive which saw the participation of 3,769 investors, according to the official website.

CryptoCoinsNews reported that the platform intends to use to amount raised to develop its in-house cryptographic audit technology, autonomous auditing techniques to track, record, and timestamp trading activity. The technology ensures that all profits are properly recorded, money flow is transparent, and the company is in possession of all declared funds.

The TaaS team is also developing Kepler – a portfolio management and analytics platform for cryptocurrencies. Kepler will cover the entire spectrum of the investment process, providing market research, due diligence, and order management as well as risk exposure and performance forecasting.

“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,” said Ruslan Gavrilyuk, TaaS president and co-founder, as quoted by CCN.

TaaS issues tokens built on a profit-sharing smart contract in which token owners receive 50% of quarterly profits. A quarter of the profits will be reinvested back into the fund in order to increase the fund’s capital pool without requiring additional investment. With the increase in the net asset value of a token, TaaS tokens will have their value tied to the performance of the parent project.

“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,” said Gavrilyuk.

Last month, TaaS announced its partnership with two cryptocurrency exchanges, Livecoin and Kuna, which are now offering its tokens for trading.