Entrepreneurs Vladimir Smerkis and Victor Shpakovsky founded The Token Fund, which became one of the first tokenized foundations in the world.
The fund's tokens are units that are purchased and redeemed by smart contracts in the Ethereum network. The portfolio of the fund and its changes are open to all customers, audit and calculation of performance indicators are fully automated.
For two months, 48,000 TKN tokens were sold, the fund's capitalization exceeded $2,000,000, and the yield was 300% in USD.
Following the success of The Token Fund, the founders of the foundation started implementing the idea of a platform that will allow anyone who wants to create such a fund, or invest in it.
As soon as July 2017, a whitepaper project was developed and stages of the platform development were determined.
In October 2017 a private sale of TBX tokens took place, and in November the open TGE (Token Generation Event) was successfully held. In two weeks $8.3 million was collected. The Tokenbox team was expanded, work began on implementation of the trading platform.
In December, the first listing of the TBX token was held at the Yobit crypto exchange. Also, the TBX token was registered on the Bancor site, where it can be purchased and converted in trade pairs with the BNT token and ETH crypto currency.
In January 2018, the team of Tokenbox was headed by Pavel Salas as the general director. Pavel previously led the regional division of the international investment social network eToro in Russia and CIS countries. He also worked for Alfa Bank (CIB), acting as vice president of sales and development of the OTC market, and was the regional director of the office of the international brand GKFX in Latin America.
In the first and second quarters of 2018 the Tokenbox team increased to 23 people.
In order for the company to operate legally in the crypto field Tokenbox lawyers filed an application for a DLT license in the jurisdiction of Gibraltar.
In May 2018, 2 licenses were obtained in the jurisdiction of
— Providers of a service for exchanging a virtual currency against a fiat currency
— Providers of a virtual currency wallet service
In June 2018, an alpha version of the platform was introduced, including registration options, verification procedures and connection to the bonus referral program. At the moment, the number of registered users exceeds 2000.
Also on June 5, the TBX token joined the Hotbit, one of the fastest-growing exchanges, whose turnover is growing dynamically all the way through 2018. The exchange team is international (Singapore, Taiwan, USA), and the exchange itself operates in the jurisdiction of Estonia (European Union).
Until the end of 2018, the team will present a ready-made beta version of Tokenbox, which includes a multi-currency wallet, an analytical module and built-in analytical tools, a rating system, the functionality of trading with demo and real accounts, and subsequently accounts for investors, portfolio managers and traders, and integration with trading terminals.
In the beginning of August, 2018 the team presented the Alpha version of a multi-currency Wallet. Thanks to the partnership with Changelly, a world leading instant crypto exchanger, the following coins are initially available in the Wallet: Bitcoin, Ethereum, Bitcoin Cash and Litecoin.
September 24, 2018: together with Sum&Substance, a long standing KYC provider and company’s earliest partner, Tokenbox introduces a verification procedure based on Telegram Passport, the most popular messenger for crypto community.
Since October 2018 TBX token is available in major Ethereum wallets: Trust and Tokenary. Trust it provides multi-coin storage and supports both Ethereum network and over 30K ERC20 tokens. Tokenary Ethereum Wallet is introduced by Tokenbox partners and friends from Zerion. Simple and secure wallet gives fast access to ETH & ERC-20 tokens via any Apple device (iOS or macOS), and is considered to be the only native wallet available in the Mac Store.
November 21, 2018: Tokenbox partnered with Indacoin, a UK based platform that provides the possibility to instantly and safely buy digital assets using bank cards. From now on, thanks to Indacoin services that are now integrated into the Tokenbox platform, a user can buy coins and tokens and pay for them with either debit or credit card. The assets bought are immediately transferred to the user’s Tokenbox account.
New year, new reality: 2018 has been a very exciting year for Tokenbox, but even the platform’s progressive development couldn’t resist the overall decline of Ethereum and the whole cryptomarket to more than 80%. Laying off 30% of employees, except for the team of developers, the company’s management is adapting to the ongoing downturn in cryptocurrency prices and looking for new strategies in 2019.