The Shiba Inu (SHIB) ecosystem is approaching historic milestones after securing a significant $12 million in funding for its new token, TREAT. This financing, which took place earlier this month, was supported by influential investors and internationally renowned venture capital firms, including Polygon Ventures and Animoca Brands.
The TREAT token, created by the enigmatic Shytoshi Kusama in July 2022, is the key to accessing the new Shiba Inu blockchain. This one blockchain promises to revolutionize the market with fully homomorphic encryption technology (FHE), developed in partnership with Zama.ai, standing out for its ability to address crucial issues such as privacy and trust in the world of cryptocurrencies.
The new blockchain is not only aimed at the vast community of Shiba Inu holders, but also aims to attract the next generation of cryptocurrency enthusiasts. “This new crypto chain aims to address multiple crypto issues, including privacy and trust for the extensive Shiba Inu community of tens of millions and the next billion crypto-curious individuals,” explained a spokesperson for the Shiba Inu team.
In a rare interview, Shiba Inu lead developer @ShytoshiKsama talks about $Treat and L3 pic.twitter.com/fUemAGoEVI
— 𝐋𝐔𝐂𝐈𝐄 | SHIB.IO 🧜🏼♀️ (@LucieSHIB) April 22, 2024
Shytoshi Kusama, reflecting on the project's growth, thanked the community for the success achieved. “We are excited to gain the support of such powerful VCs, angel investors and brands as we move towards the completion of this massive decentralized experiment. Through the involvement of these venture capital firms and their strategic partners, we are expanding not only our network of trusted partners, but also exponentially increasing what Shiba Inu can truly be capable of for our community, the ShibArmy.” , declared Kusama.
Although the team has chosen to keep the name of the new Layer 3 blockchain secret to protect against the creation of fake tokens, a testnet is expected in the third quarter of the year, with the mainnet expected to launch after rigorous testing.
