What is Apis Token?
The Apis token (the “Token”), the world’s first digital token providing exposure to a volatility-focused hedge fund with a proven track record of performance. The Token will be issued by Apis Token Fund, Ltd., a Cayman Islands exempt Issuer, organized on and sold to nonU.S. investors under Regulation S. The Tokens represent an indirect fractional non-voting economic interest in the ACM Market Neutral Volatility Strategy Fund, LP, a Delaware limited partnership, organized on November 30, 2017 (the “Fund”). The Fund is managed by Apis Capital Management, LLC (the “Manager”).
Unlike traditional hedge fund interests, which are often locked up for months or years at a time, Tokens will be immediately re-sellable to non-U.S. persons, as defined herein, following the Tokens’ initial issuance. A tokenized fund structure democratizes access to investments that previously required substantial capital commitments, making previously private pooled investment vehicles accessible to the average non-U.S. investor. The Token will invest in the Fund, and derive profits from its performance, without the ongoing management or incentive fees typical of other hedge fund investments. At issuance the Manager will be allocated approximately 20% of the tokens. On a monthly basis, profits of the Fund will be distributed pro-rata to all Tokenholders in the form of additional Tokens. Additionally, subject to certain restrictions, Tokens can be redeemed for their pro-rata share of the Fund assets at regular redemption dates. The first redemption shall occur 12 months after the initial issuance of the Apis Tokens, but may occur earlier at the discretion of the Manager. After each Token is redeemed for itscommensurate value, it will be taken out of circulation.