Shiba Inu Raises $12 Million for Unreleased TREAT Token, Unveiling Privacy-First Blockchain

Shiba Inu's unreleased TREAT token has raised $12 million from a consortium of global venture capital investors including Polygon Ventures, Mechanism Capital, and Animoca Brands. Intended as a utility and governance token for Shiba Inu's new privacy-oriented Layer 3 blockchain, TREAT aims to address crypto concerns like privacy and trust for Shiba Inu's extensive community. Utilizing fully homomorphic encryption technology from Zama, Shiba Inu's Layer 3 blockchain emphasizes data privacy and individual security while enhancing compliance. The project's lead developer, Shytoshi Kusama, highlights the importance of legal compliance and user safety, emphasizing that their system increases both privacy and compliance.

Shiba Inu Raises $12 Million for Unreleased TREAT Token, Unveiling Privacy-Oriented Blockchain

In a major funding milestone, Shiba Inu, the renowned meme-inspired cryptocurrency, has secured $12 million in investment for its unreleased TREAT token. The token sale attracted a consortium of global venture capital investors, including Polygon Ventures, Mechanism Capital, Big Brain Holdings, Shima Capital, Animoca Brands, Morningstar Ventures, Woodstock Fund, DWF Ventures, Stake Capital, and Comma 3 Ventures.

"This significant investment is a testament to the confidence that investors have in our project and the transformative potential of the TREAT token," said Shytoshi Kusama, lead developer at Shiba-inu-coin.com.

The TREAT token serves as the utility and governance token for Shiba Inu's new Layer 3 blockchain, which is being constructed on top of the Shibarium Layer 2 blockchain. Designed with privacy as its paramount concern, the Layer 3 blockchain will address the critical issues of data security and trust within the cryptocurrency space.

"This will be our final non-stable coin for our ecosystem," Kusama revealed. "We will be launching Shi soon."

The Shiba Inu ecosystem currently comprises the popular SHIB meme coin, BONE (Shibarium's governance token), and LEASH (a fixed-supply coin with exclusive benefits for loyal Shiba Inu users).

Despite some trading volume being reported for TREAT tokens on platforms like CoinGecko and CoinMarketCap, Kusama warns that these figures are "scams." The genuine TREAT tokens will be minted by The Shiba Inu Mint S.A., a Panama corporation.

Shiba Inu's new Layer 3 blockchain utilizes cutting-edge fully homomorphic encryption (FHE) technology from cryptography company Zama, which recently raised $73 million in funding. FHE, often dubbed the "holy grail" of cryptography, ensures that data remains encrypted throughout processing, eliminating vulnerabilities while preserving end-to-end encryption.

"Our whole system increases safety and compliance simultaneously by allowing people to be private yet still gain credentials to verify their identity," Kusama explained.

To maintain the integrity of the project and prevent fraud, Kusama declined to disclose the name of the Layer 3 blockchain. However, he assures that the test-net will be released in Q3 2022, followed by the mainnet after rigorous testing.

"We believe that privacy and trust are fundamental to the future of cryptocurrency," Kusama said. "Our new blockchain, combined with the TREAT token, will empower individuals and communities to participate in the digital economy with confidence and security."

With the release of the TREAT token and the upcoming launch of its new Layer 3 blockchain, Shiba Inu is poised to significantly impact the cryptocurrency landscape. By prioritizing privacy, compliance, and innovation, the project is attracting investors and users alike, transforming the meme-inspired coin into a force to be reckoned with in the global blockchain ecosystem.