Apis Token - The first tokenized hedge fund

ApisToken

Hello, we wanted to announce Apis Token, the world's first tokenized hedge fund. We have successfully built and launched on Stellar in May, raising $1.7 million. The Apis Token allows investors to diversify away from cryptocurrency, because the strategy focused on trading S&P 500 options and VIX futures.
You can read more about the Apis Token here: https://apiscapitalfunds.com/apis-token/

We have been covered in the media as well: https://apiscapitalfunds.com/press-coverage/

Besides bringing the asset management world to Stellar, we are utilizing the Stellar network in a unique way. Our redemption process (where investors can exchange their APIS tokens for XLM and USD as well as a few other cryptos) will utilize a smart contract built on Stellar to automatically process redemptions for all investors. We will be utilizing the top Stellar-based anchors for each cryptocurrency, so all redemptions will be on Stellar.

We believe that this is an excellent use case for Stellar as the premier protocol for the new and open financial services industry, which is why we are applying to the Stellar Build Challenge.

Please ask any questions, or contact us directly through our social media channels (on our website)

cryptobrant

Hi,
This is a really interesting use case. It seems it can democratize hedge fund investing through tokenization. I like the idea a lot.

I’ve got a few questions:
- is it open to investors worldwide?
- are your tokens tradeable on SDEX with random people? (I guess not.)
- how do we trust you?

Thanks!

ApisToken

cryptobrant

Yes, it is open to investors worldwide except countries that have sanctions (North Korea, Iran, Syria and Cuba)

For US investors, they must be "accredited investors" which is a net-worth/income level qualification. We do not have such requirements for foreign investors as we are US based and follow US law.

The tokens are tradeable on SDEX. We must follow KYC/AML rules for anyone buying the tokens from us, as well as anyone who wishes to redeem them with us. After they purchase the token, if they wish to trade it, they made do so. It would be similar to you buying shares in a company, you can then gift it to your children or a charity etc. The company does not control that.

We are Third Party Administered. What that means is that an independent company that specializes in administering/monitoring hedge funds like ours will review all of our finances every month. They look at the brokerage statements and the bank statements, and publish an exact value for all of the holdings of Apis Token Ltd. This is further audited on a yearly basis by yet another firm (CPA).
Secondly, all of the tokens are issued on Stellar, so you can always see how many are issued. Furthermore, the tokens that are issued as compensation to advisers (the 15% allocation) and the expenses account (5%) are disclosed in our White Paper by their Stellar Account address, so that you can verify that they are receiving the correct compensation and most importantly that they are abiding by the 12 month restriction on trading/selling their tokens.
In fact, I believe that we have set the standard for Asset Backed Tokens and I would encourage others to follow. You can read more about what we consider as a standard set of best practices here: https://medium.com/@eradjabli/evaluating-asset-backed-tokens-for-investment-proposed-framework-93ed98191658