Q. When will the Offering Memorandum be issued?
A. The offering memorandum is now available. You can access it here.
Q. How much will each ICO token cost?
A. Each token will cost $1.00.
Q. Can I participate if I’m a US resident or citizen?
A. The offering will made under the exemption from registration with the U.S. Securities andExchange Commission pursuant to Regulation D, Section 506(c) of the Securities andExchange Act of 1933. Within the US the Protos ICO tokens are being offered on a limitedbasis to a maximum of 99 accredited investors. We encourage you to consult the relevantrules and regulations and, if necessary, seek independent legal advice to determine whetheror not you would be eligible to participate in the offering.
Q. How many tokens will be issued? How much do you plan to raise in the ICO?
A. The offering will be soft capped at $50M. The hard cap and other information is detailed in the Offering Memorandum.
Q. When will the ICO launch?
A. The announcement for the ICO was on August 22nd, 2017. The ICO started on October 9. The public sale began on November 7.
Q. When will the ICO finish?
A. December 15.
Q. Is there a minimum investment?
A. You must invest at least the amount of one Protos token to participate and there will be aminimum investment level during the presale among other limitations.
Q. Can I invest directly from an exchange?
A. You should carefully review best practices when it comes to investment in ICO’s andplatform capabilities. We suggest depositing funds from your Wallet.
Q. What currencies can I use to buy Protos tokens?
A. You can participate in the purchase of Protos tokens with BTC, ETH or USD.
Q. Will the token be on an Exchange(s)?
A. We are working closely with a number of Exchanges and will keep you updated via theTelegram channel and Email (if you have registered on the website) on this progress.
Q. What can I use the tokens for?This is detailed in the Offering Memorandum.
Q. Can anyone invest in the ICO?
A. The Protos ICO tokens are being offered on a limited basis, in the US to a maximum of 99accredited investors. There are also limitations in other jurisdictions. Details can be foundin the Offering Memorandum.
Q. How are returns (or dividends) paid?
A. The structure of the Protos token will be outlined in the Offering Memorandum.
Q. What if the ICO doesn’t raise the amount being targeted?
A. The structure of the Protos token offering, including matters related to the target raiseamounts will be outlined in the Offering Memorandum.
Q. Have other businesses like yours run ICOs previously?
A. We have seen a number fund capital raises through an ICO , but Protos is one of the firstdata driven crypto hedge fund that we have seen.
Q. Do you have a Telegram, Slack or Reddit channel?
A. Yes we do. You can find us on https://t.me/ProtosCrypto
Q. Why is Protos doing an ICO instead of raising capital the traditional way?
A. The clearest expression of our belief in the value and potential of Blockchain technologyis to actually use the technology to do a capital raise for a fund focused on crypto currenciesand blockchain.
Q. How will the Protos Blockchain fund work?
A. Very simply, the fund aims to identify and build an investment portfolio of blockchain-enabled companies who have tradable tokens that we believe have the potential to reallygrow. Protos invests in the digital assets of the protocols we believe will be the foundationalinfrastructure and biggest applications in the third major computing revolution.We believe that Protos is uni
Q.e in its approach. In addition to investing in new digitaltokens, we are among the first funds building a robust database of digital token and cryptocurrency market data and using advanced technical trading strategies for [digital tokens and]cryptocurrencies. We believe we are unlocking the second major investing wave in cryptoand once data on the market exists, we anticipate we’ll see an explosion in trading strategiesjust as it did in stock trading. We are driving this second wave with the goal of benefiting ofour token holders through our [digital tokens and] crypto trading strategies.Protos purchases tokens as an investment. As a purchaser of Protos Tokens, you can earnreturns based on the investment returns that Protos earns by investing in tokens. Moredetails will be in the Offering Memorandum.
Q. Is this token a “utility”?
A. No. Buying a Protos token is an investment in a security. Some security ICO tokens aredescribed as utility tokens in order to avoid regulatory scrutiny. In our case, we’ve workedclosely from the beginning to structure our fund and ICO offering in compliance withapplicable regulatory regimes, including SEC regulations.
Q. How many companies do you expect to invest in for your portfolio?
A. As managers, we believe a significant part of the value we bring is our experiencemanaging investment portfolios. We've successfully run hedge funds and prop trading desksfor many years, and the truth is, it requires a lot of work.We won't pretend to know exactly what our future portfolio will look like, but expect that wewill invest in the market beta of cryptocurrencies as well as active strategies. The marketbeta can be measured, for example, by the total volume or the total market capitalization ofcryptocurrencies. As active strategies we consider, for example, trend-following, marketmaking, arbitrage and ICO selection strategies, and we plan to use all of these strategies toinvest in multiple cryptocurrencies.
Q. Have you identified any specific targets already?
A. The team at Protos has been watching this space carefully for some time now, and wehave seen a number of what we believe are really interesting opportunities.
The tokens referred to above will be offered in the US on a limited basis to a maximum of 99 accredited investors underexemptions from registration under the U.S. Securities Act of 1933 (the “Securities Act”) pursuant to Regulation D,Section 506(c) under the Securities Act, and the rule promulgated thereunder. This Q&A does not constitute an offer to sell or the solicitation of an offer to purchase the tokens, nor shall there be any offer, solicitation or sale of tokens in anyjurisdiction in which such offer, solicitation or sale would be unlawful. The tokens referred to herein have not and will notbe registered under the Securities Act, the Investment Company Act of 1940 or other applicable state securities laws, andmay not be offered or sold in the US absent registration or pursuant to an exemption from registration requirements of theSecurities Act and under applicable state laws.In any member state of the European Economic Area, the tokens will only being offered to qualified investors as definedunder Directive 2003/71/EC (as amended, including by Directive 2010/73/EU, and includes any relevant implementingmeasure in each member state). This communication is directed only to persons who (i) are outside the United Kingdom; (ii) are persons falling withinArticle 19(5) (Investment professionals) of the Financial Services and Markets Act 2000 (Financial Promotion) Order2005 (as amended, the “Order”), (iii) are persons falling within Article 49(2)(a) to (d) (High net worth companies,unincorporated associations, etc.) of the Order, or (iv) are persons to whom an invitation or inducement to engage ininvestment activity may otherwise lawfully be communicated (all such persons together being referred to as “relevant persons”). This communication is directed only at relevant persons and must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this communication relates is available only to relevant persons and will be engaged in only with relevant persons.