Shiba

Kusama

Token

Polygon

Shiba Inu

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Shiba Inu (SHIB) raised $12 million via the TREAT token for the development of a new privacy-focused Layer 3 blockchain.</li> 
 <li>Funding investors include Polygon Ventures, Mechanism Capital, Big Brain Holdings, and Shima Capital.</li> 
</ul> 
<p>According to the latest reports, the<a href="https://twitter.com/Shibtoken" rel="nofollow noopener" target="_blank"> Shiba Inu</a> team has raised $12 million by selling its unreleased token called TREAT to venture capital investors.</p> 
<p>The funding investors include Polygon Ventures, Mechanism Capital, Big Brain Holdings, Shima Capital, Animoca Brands, Morningstar Ventures, Woodstock Fund, DWF Ventures, Stake Capital, and Comma 3 Ventures, the team behind the project announced today.</p> 
<p>Shiba Inu began raising funds for the round a few months ago, and concluded the funding earlier this month, according to Shytoshi Kusama, Shiba Inu’s lead developer.</p> 
<p>According to sources familiar with the matter, the valuation involves a tranched round, and each tranche occurred at valuations of $75 million, $100 million, and $200 million.</p> 
<p>Regarding SHIB’s price today, at the moment of writing this article, the coin is up by 0.90% in the past 24 hours on <a href="https://coinmarketcap.com/currencies/shiba-inu/" rel="nofollow noopener" target="_blank">CoinMarketCap</a> and its market cap is almost $16 billion.</p> 
<figure id="attachment_39861" aria-describedby="caption-attachment-39861" style="width: 100%" class="wp-caption alignnone">
 <a href="https://coinmarketcap.com/currencies/shiba-inu/" rel="nofollow noopener" target="_blank"><img fetchpriority="high" decoding="async" class="wp-image-39861 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/04/SHIB_1D_graph_coinmarketcap-1.jpg" alt="SHIB price" width="747" height="475" title="Shiba Inu (SHIB) Raises $12M Via TREAT Token For New Blockchain 1" srcset="https://crypto.ro/en/wp-content/uploads/2024/04/SHIB_1D_graph_coinmarketcap-1.jpg 747w, https://crypto.ro/en/wp-content/uploads/2024/04/SHIB_1D_graph_coinmarketcap-1-300x191.jpg 300w" sizes="(max-width: 747px) 100vw, 747px"></a>
 <figcaption id="caption-attachment-39861" class="wp-caption-text">
  SHIB price
 </figcaption>
</figure> 
<h2 id="what-is-shiba-inu-s-treat-token">What is Shiba Inu’s TREAT token?</h2> 
<p>The TREAT token is the utility and governance token of the new privacy-focused Layer 3 blockchain, according to Shiba Inu’s team. The blockchain is built on Shibarium, the <a href="https://crypto.ro/en/news/hong-kong-approves-bitcoin-ethereum-etfs/">Ethereum</a> Layer 2 blockchain.</p> 
<p>TREAT will reportedly be the final non-stable token from the Shiba Inu ecosystem, according to Kusama, who added that the ecosystem will introduce a new token called Shi by the end of 2024.</p> 
<p>The ecosystem’s existing tokens include SHIB, BONE, Shibarium’s governance token, and LEASH. The latter is a fixed-supply token that’s held by Shiba Inu’s loyal users and offers benefits and perks, including BONE rewards.</p> 
<h2 id="shiba-inu-s-new-layer-3-blockchain">Shiba Inu’s new Layer 3 blockchain</h2> 
<p><a href="https://crypto.ro/en/predictions/shiba-inu-shib-price-prediction/">Shiba Inu</a> is developing the new Layer 3 blockchain via fully holomorphic encryption technology from the cryptography company Zama, which recently raised $73 million in funding. The FHE is seen as the “goly grail” of cryptography, and it enables end-to-end data encryption.</p> 
<p>Shiba Inu team said that this new encryption chain targets addressing multiple issues in crypto, including privacy and trust for Shiba Inu’s extensive community of tens of millions and the next billion crypto enthusiasts.</p> 
<p>The new blockchain reportedly aims to comply with regulatory requirements. Kusama stated that it is important that the team maintains a project that conforms to international laws while, at the same time, protecting data privacy and individuals’ security.</p> 
<p>Kusama concluded by saying that by allowing people to be private yet still gain credentials to verify their identity, the entire system extends security and compliance.</p> 
<p>Kusama did not disclose the blockchain’s name in order to make sure that there would not be scammers. The TREAT tokens have already attracted scammers, with CoinGecko and CoinMarketCap displaying some trading volume for so-called TREAT tokens. The authentic TREAT token will be minted by The Shiba Inu Mint S.A., a corporation from Panama.</p> 
<p>The new blockchain will reportedly see its release in Q3 2024 after thorough testing.</p>

Shiba Inu (SHIB) Raises $12M Via TREAT Token For New Blockchain

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