The TREAT token, a part of the Shiba Inu (SHIB) ecosystem, has secured a significant $12 million in funding, marking a historic milestone for the project. The funding was provided by notable investors and renowned venture capital firms, including Polygon Ventures and Animoca Brands.
Created by the enigmatic Shytoshi Kusama in July 2022, the TREAT token serves as the key to access the new Shiba Inu blockchain. This blockchain is set to revolutionize the market with its fully homomorphic encryption technology (FHE), developed in partnership with Zama.ai. The technology stands out for its ability to address crucial issues such as privacy and trust in the world of cryptocurrencies.
The new blockchain aims not only to cater to the vast community of Shiba Inu holders but also to attract the next generation of cryptocurrency enthusiasts. A spokesperson for the Shiba Inu team explained, “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.”
In a rare interview, Shytoshi Kusama expressed gratitude to the community for the project’s success. “We are excited to gain the support of powerful venture capital firms, angel investors, and brands as we move towards the completion of this massive decentralized experiment,” Kusama declared. The involvement of these partners is expected to expand the network of trusted partners and enhance the capabilities of Shiba Inu for the community.
While the name of the new Layer 3 blockchain remains a secret to prevent the creation of fake tokens, a testnet is anticipated to launch in the third quarter of this year, followed by the mainnet after rigorous testing.
Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
