The Venture Farm platform is built on BitShares protocol. Bitshares is an industrial-grade decentralized platform designed specifically for high-performance financial smart contracts. BitShares offers the best of the decentralized solutions such as distributed public ledger in form of a blockchain, the peer-to-peer transactions and Delegated Proof-of-Stake (DPOS) consensus. It means that a permanent record of transactions that have taken place is stored in the public ledger. The ledger has a form of a linked series of blocks, distributed among remote computers. Anybody may connect to any known computer or node and download the latest ledger at any time. For a transaction to be processed and added in a new block to the blockchain, a specified number of nodes has to sign it. These nodes, called witnesses, are selected by voting and remunerated for their services. With competition growing high, the nodes are motivated to keep their service up to the standard, otherwise they may lose their witness position and their income. This architecture makes the whole system transparent and resistant to fraud, scalable to large amount of transaction and free from mining-related flaws. BitShares, one of the fastest and the most reliable decentralized exchanges on the market, has several unbeatable features. Stable currencies and easy trade between different asset classes: The core product of BitShares are so-called Market-Pegged Assets (MPA): cryptotokens that have the value of the underlying asset, for example, a national currency or gold. One bitUSD is equal to one USD, which gives its holder all the benefits of a cryptocurrency with the price stability of normal assets. Possibility to issue new assets: BitShare allows tokenization of any asset, as long as it has a unique global price. That caters to the wide range of needs: assets based on currencies, or SmartCoins, can be used for payments, while a bitGOLD and similar MPAs would serve as a long-term investment. BitShares facilitate a swift issuance of regulation-compatible cryptoasset to address the needs of a user It’s fast, efficient and scalable. With BitShares, it is possible to transfer any amount, anywhere in the world for 20 cents, and get the operation confirmed in 20 seconds or less. BitShares uses proof-of-stake protocol, which makes it performance scalable to 100,000 transactions per second – traffic volumes that are larger than Mastercard’s and Visa’s. Decentralised exchange. Market-Pegged Assets and cryptocurrencies can be exchanged globally and instantly without a middleman, preserving your anonymity. The trade is open 24/7, there are no settlement or clearing delays.The Venture Farm trades the tokens, cryptoderivatives of shares. BitShares supports trading between any two pairs of assets, including SmartCoins, in an instant, trust-less and secure manner. It has an embedded exchange mechanism; trade rules are fixed on the protocol’s technical level and prices are determined by market supply-demand mechanism. BitShares will secure the purchase, exchange or sell of tokens is smooth and seamless. In 2017, Initial Coin Offerings or ICOs progressed from a little-known method of fundraising to a mainstream tool that attracted a whopping $5.3 billion. The funders, drawn by the hype and the low entry threshold, keep flocking despite warnings from regulators and experienced investors alike. ICOs have changed the financial landscape and the power balance, but there are several major flaws to keep in mind before committing to a token or cryptocurrency.The very nature of ICO makes it possible to start raising money without minimum viable product, business model and any supporting documentation. Pitching to potential investors in the “real world” is a concept validation mechanism that prevents “raw”, unsustainable projects from emerging on the market. ICOs low entry requirements and absence of traditional gatekeepers opens the market to any idea at any stage. Potential investors have to place every aspect of the ICO-funded startup under scrutiny before putting their money on its success. A mushroom growth of ICOs makes constant evaluation of crypto ecosystem a full-time job. As ICOs is a relatively new phenomenon, there is no sufficient regulative base to control the fundraising process. The founders have no legal obligations to deliver their promises, which leaves investors potentially vulnerable to fraud. Coupled with anonymity and irreversibility of blockchain transactions, ICOs became the fertile breeding ground for scams. The surging number of dubious people exploit the model, now ironically entitled “two geeks and a whitepaper”. None of the top 5 biggest ICOs by amount raised in 2017 was free from controversy. The record-breaking project Tezos, surpassed only by Filecoin (attracted $232 million and $257 million respectively) is making headlines mostly with class-action suits. Shortly after the Bancor ICO ended, computer science professor Emin Gun Sirer counted 29 flaws in the project. He pointed out that Bancor managed to raise $153 million for 40 lines of untested code, averaging $3,5 million per line. Some took the game to the whole new level. The mockery token UET, which stands for Useless Ethereum Token, was offered in what its founder dubbed as “the world’s first 100% honest Ethereum ICO”. The blunt description said the founders have no product and are to spend the raised money on some electronics, most probably a fancy big-screen tv. By now they raised $320,857, enough to buy 267 televisions. If you think it can’t get more absurd, read this perplexing disclaimer of the EOS token: “As mentioned above, the EOS Tokens do not have any rights, uses, purpose, attributes, functionalities or features, expressed or implied. Although EOS Tokens may be tradable, they are not an investment, currency, security, commodity, a swap on a currency, security, or commodity or any kind of financial instrument.” It did not prevent EOS from raising $183,4 million. 2018 is to become a turning point for ICO model: experts agree that startups have to seek business acumen, not merely technical excellence and that the average level of projects is to be boosted. The market cool-down is confirmed by numbers: only 25% of the projects met their fundraising targets in November, compared with 90% in June. Currently, ICOs should be taken with a pinch of salt. If you are somewhat reluctant to bring your money to yet another brilliant project that may never materialize, we understand you. At the Venture Farm, we don’t seek funding to set the fund, quite the opposite, we offer the derivative of the already established fund. The listed tokens are cryptoshares of operating startups, which are offered for sale directly by their owners, early-stage investors. The connection to the real world businesses and the professional team behind the startup selection process makes the Venture Farm a safer alternative to unregulated ICOs. With the rise of ICO, many spoke about the liberating effect the new fundraising model will bring to the market. The venture and angel investment used to be limited to those selected with the right connections and hefty sums of money to invest. ICOs are revolutionary in the way they democratize the market and allow anyone, even a person with $100, to back a promising startup. At the same time, it’s wrong to deem the traditional early-stage investing obsolete. Neither is it true to think that venture and angel investors have nothing to bring to the table. They serve as the gatekeepers of the market, carefully deciding whether the project is viable and has what it gets to succeed. The investors mentor companies and help them out in a moment of difficulty. This takes not just money or connections, but business acumen and solid market understanding. An early-stage investor evaluates several aspects of a project. A good startup should find a pain point of a consumer and suggest a feasible and effective way to address it. The market opportunity should be big enough to make the startup profitable, while the solution should have the unique value proposition to differentiate from and hopefully surpass the competition. Finally, the investor would look at the business plan and the underlying assumptions and deem whether the team is balanced and has the qualification to make things happen. Only startups that ticked all the boxes would get the check and opportunity to kick off the business. The same questions should be asked when you are choosing an ICO to back. A special attention shall be paid to the token’s function. Some professionals argue that there is seldom a business need for a token, and many token creates no value at all. With a total of 235 ICOs that took place in 2017, evaluation of the upcoming projects can turn into a full-time job. Investing can be hassle. We offer you a shortcut: the team of financial professionals and specialists in the early-stage funding, who have seen many of their companies successfully exiting, does the selection for the Venture Farm. We get down to the nitty-gritty of each company. You get the fame when the startup exit, hassle-free. 3. ?? ????????? ????? ????????? ????? ? “?????????? ????”, ?.?. ? ????? ?????????? ?? ?????-???? ????????, ?????? ???????? ??? ??????????5. ???????????? ??????? ?????????????? ?????? ? ???????? ?????, ????????? ??????? ? ??????? ??????????? ????????????? ???????? ? ?????? ?????? ? ?? ????????????? ?? ??????????????? In its turn, founders of tech startups pitching to the venture and angel investors are forced to think through the revenue model, marketing plan and get down to the nitty-gritty of running a business to secure the funding. This helps to surpass the technology bios and warranty that the startup has a comprehensive vision and is sustainable as a whole. The validation of the concept reassures that only viable ideas emerge on the market. Anonymity and simplicity. We all hate papers. We found a solution to spare our cryptoinvestors time and energy over a long and exhausting compliance procedure: the initial investor retains the ownership, but transfers the right for the future revenue through tokens. This will minimize the paperwork for cryptoinvestors and eliminate the necessity to submit comprehensive information to the fund. At the same time, it is perfectly legal and compliant and thus your rights are protected. Stability. The tokens are secured by the connection to the real-world companies that attracted pre-seed, seed and A-round investments in the past, have been around for several years now, operate in different spheres and are not limited to the cryptoeconomy. This makes the tokens safer investment in comparison with ICO projects, which are still at the idea level. At the same time, you will fund a ground-breaking idea, which is much cooler than putting you money in gold.