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TECH token

Overview​

Fission’s first token, TECH, represents shares in a broad range of venture unicorns such as OpenAI, SpaceX, and Stripe. In the future, the platform will offer additional tokens curated around unique VC sectors (e.g. Fintech, AI & Data).

The TECH token is backed by assets held in Fission Technology Holdings, a Cayman holding company. Fission diligences and underwrites investments in the portfolio companies.

The company utilizes a 3rd party fund administrator, accounting firm, and additional third-party service providers. It provides daily estimates of the valuation of the portfolio, based on third party data providers to inform investors on the value of each token.

Our target portfolio allocation is shown below:

How It Works​

There are two ways to acquire TECH tokens: mint or trade

Mint TECH​

When users mint TECH, they deposit USDC into the TECH holding company (Cayman) which warehouses user deposits and private company shares. Once USDC is deposited, those funds are used to purchase private company shares.

TECH tokens are minted at the current DEX trading price for TECH.

If TECH is trading below NAV on the DEX, the mint function is disabled and users may purchase TECH on the DEX.

Fission limits the amount of USDC deposits to 20% of the total value of assets held by the holding company.

  • Example: if there are $10M of private shares currently held within TECH, users may mint up to $2M of additional tokens.

It typically takes ~4 weeks to deploy the USDC into private company shares. Once capital is deployed, the mint function is reactivated and additional USDC can be deposited.

When USDC is deposited in TECH, it is held in yield-bearing stable coins currently generating a ~5% yield until deployed to the purchase of private company shares.

When users mint TECH, they earn rewards based on the total value they deposit as a governance token, FISN.

Trade TECH​

Users may trade TECH for USDC on the DEX any time.

Valuation of TECH​

The NAV (“Net Asset Value”) of TECH represents an estimate of the current institutional valuation of the underlying assets and is systematically calculated off-chain using independent data providers and varying sources, such as recent brokered transactions, 409a valuations, and institutional fund valuation marks. This data is provided to users so they can make informed decisions at to the fundamental value of TECH when buying or selling the TECH token.

NAV per share is updated daily when the fund administrator computes the underlying NAVs for portfolio companies in TECH and is displayed to investors on the website.