Tigarus News

January 1, 2024, Tigarus Interactive completes our fundraising round for stage 2 business development of our whitepaper. We completed our fundraising goal of $10,000 Canadian, collecting 15,253 Canadian dollars though online donors. We are very happy to exceed our goal and will use the extra 5k for quality improvements. The intended 10k will be held as capital savings, where it will be used for proof of capital for opening a bank account, opening a line of credit, etc. Fundraising my crypto has not been an easy journey and was one that we would not want to repeat again. Thank you to everyone who showed their support and patience during this stressful roller-coaster.

Since completion we have placed the 10k goal in a capital saving account where it will be held for long-term tax-free interest. A line of credit has been opened, and the remaining 5k has been allocated for improvement expenses. We have invested in a fireproof chest to store our backup hard drives, offset our heating from oil to green energy, and expanded our in-office learning materials. We are very grateful to everybody who had donated. Choosing crypto has not been easy.

The challenges of fundraising though crypto. We are very grateful to everybody who donated and showed their patience during the pandemic. The fundraising term was extended due to the challenges and uncertainties of the crypto landscape, especially as Canadians. During the three-year term we had four exchanges close, two kicked out Canadians due to government regulations, and funds were lost to hacking. We had to use exchanges to accept a wide verity of tokens as many private donors would only donate their personal choice of token, this forced us to use exchanges to accept the tokens and exchange them. As well, many small donations received were less than the transaction fees and the only option was to exchange to another token in order to retain value.

The crypto exchanges were ultimately a nightmare with a lack of regulations, protection, and accountability. Not only did many exchanges close down, but many had also chosen to remove Canadians because they choice not comply with new Canadian regulations. Moving to another exchange is inconvenient, however, hacked exchanges were even worst. When an exchange had been hacked, all withdrawals are held in lock down for weeks and even months. The most extreme instance had resulted in the loss of approximately $5,000 Canadian worth of Dogecoin. We were very fortunate to have pulled out early before all funds were lost. We are very grateful to receive the account that we did. Crypto was a stressful experience in which we will no longer deal with in the future.

Thank you everyone.