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Community update: February 2022

Monthly series
February 28, 2022

Welcome to the second tiiik community update for 2022. We had another amazing month here in terms of pushing the project forward.

Here’s the updates for this month

Seed raise

We raised A$5.2M in our seed round. This will allow us to continue building the infrastructure required for a simplified onboarding experience — helping bring new people into the ecosystem!

Hiring

The tiiik team has moved into a new office! A new hub in Sydney will allow us to further scale up the team. We’ll share some images soon of the new location.

During the month 3 new team members joined tiiik (regulatory, product and engineering departments). It will enable us to work on more exciting features and developments for all of you at a much faster pace.

Product

Development of a web app has begun. It requires more UI work to support both android and iOS so in the meantime to allow our existing users to access their balance we are building a web app. Mobile to follow soon!

Integration of PayID is nearly finished with testing currently taking place. Once finished this will be a way to instantly deposit from an Australian bank account to tiiik! This is one of the important elements of a seamless onboarding process.

We are also continuing to work on the interest calculation algorithms that power the on/off ramping of fiat into stablecoins. The more efficient these run in the back-end the better, as they create an improved user experience.

Community

There was significant growth in our Discord, with over 800 people joining during the month. We’ve also been reviewing and collecting your questions for our upcoming AMA (which as a quick reminder will be taking place at March 9th at 5pm EADT!). The team will be online and answering your questions, and if we have time we’ll be opening the floor for you to ask your questions directly.

Stay tuned for next months update. You can also join the community on Discord.