Shiba Inu Lands $12 Million for TREAT Token and FHE Blockchain Development

Shiba Inu secured $12 million from investors to develop its reward token TREAT, which will be tied to the Shiba Collectible Card Game and serve as a liquidity provider for the ecosystem's stablecoin, SHI. The project plans to work on a next-generation Fully Homomorphic Encryption (FHE) blockchain using TREAT, marking the final non-stable token in the Shiba Inu Ecosystem.

Shiba Inu Secures $12 Million for Development of TREAT Reward Token and Next-Generation Blockchain

April 22, 2024

Shiba Inu, the popular meme coin, has announced a strategic investment of $12 million from venture capital firm Cypher Capital to support the development of its reward token TREAT and a next-generation Fully Homomorphic Encryption (FHE) blockchain.

TREAT Reward Token

TREAT is the latest token in the Shiba Inu ecosystem and is tied to the upcoming Shiba Collectible Card Game. It is intended to provide balance to the ecosystem's stablecoin, Shi, and will replace BONE as the reward token for ShibSwap.

The supply of TREAT will be limited, with a portion reserved for longtime backers of the project. Further details regarding the stablecoin Shi will be announced in the future.

Next-Generation FHE Blockchain

In addition to the TREAT token, Shiba Inu plans to develop a proprietary FHE blockchain. This cutting-edge technology enables computation on encrypted data without revealing the underlying information. It has significant implications for privacy and security in blockchain applications.

The FHE blockchain will serve as the foundation for the Shiba metaverse and future Shiba Inu products. It is expected to provide enhanced security and scalability for the growing ecosystem.

Decentralization and the Shiba Inu Ecosystem

TREAT represents a significant step towards the realization of Ryoshi's vision for a decentralized Shiba Inu ecosystem. The token will complement existing ecosystem tokens such as SHIB, LEASH, BONE, and Shi, each of which has a specific role to play.

The development of TREAT and the FHE blockchain demonstrates Shiba Inu's commitment to innovation, security, and the expansion of its ecosystem. These initiatives are expected to further enhance the value proposition of Shiba Inu for its loyal community.

Investor Perspective

Cypher Capital, the lead investor in this funding round, expressed confidence in Shiba Inu's long-term potential. "We are excited to support the Shiba Inu team in their vision to revolutionize the blockchain industry," said a spokesperson for Cypher Capital. "The combination of TREAT and the FHE blockchain has the potential to unlock significant value for the Shiba Inu ecosystem and the wider cryptocurrency market."

Outlook

The investment in TREAT and the FHE blockchain is a major milestone for Shiba Inu. It represents the project's commitment to building a robust and sustainable ecosystem that caters to the needs of its community. The launch of TREAT and the development of the FHE blockchain are highly anticipated events that are expected to positively impact the growth and adoption of Shiba Inu.