Shiba Inu Secures $12 Million in Private Token Sale for TREAT Token

Shiba Inu, a canine memecoin project, has secured $12 million in a private token sale for its utility and governance token TREAT. Notable investors include Comma 3 Ventures, Cypher Capital, Animoca Brands, and Polygon Ventures. The funds will support the development of TREAT, which will unlock Shiba Inu's blockchain featuring Fully Homomorphic Encryption (FHE) and enable applications such as encrypted lending and tokenized asset exchanges.

Shiba Inu Raises $12 Million in Private Token Sale for TREAT Utility and Governance Token

April 22, 2023

In a groundbreaking move, Shiba Inu (SHIB), the renowned memecoin project, has secured $12 million in a private token sale for its highly anticipated TREAT utility and governance token. This strategic investment marks a significant milestone for the project, attracting a diverse group of renowned venture capital firms and partners to further its growth and development.

The private token sale, which concluded recently, saw participation from leading industry players such as Comma 3 Ventures, Big Brain Holdings, Cypher Capital, Shima Capital, Hercules Ventures, Animoca Brands, Morningstar Ventures, Woodstock Fund, DWF Ventures, Polygon Ventures, Stake Capital, Illuminati Digital Capital, Primal Capital, Mechanism Capital, DWF Ventures, and Spirit Dao. Notably, all investors in the private sale were based outside the United States.

This strategic investment signifies the growing confidence and support for the Shiba Inu project within the venture capital community. It will empower the project to expand its network, enhance its capabilities, and deliver greater value to its loyal community.

"The participation of these esteemed venture capital firms and their partners is a testament to the immense potential of the Shiba Inu project," said Shytoshi Kusama, the anonymous core developer of Shiba Inu. "Their investment will play a pivotal role in unlocking what Shiba Inu can truly achieve for our community."

While Kusama has maintained a relatively low profile in recent months, he recently resurfaced on Telegram to address user feedback. In response to a user's critique, he stated, "I have poured my heart and soul into building this project. Your unfounded criticism is undeserved and unworthy of the life God has given you."

The TREAT utility and governance token is the final piece of the Shiba Inu ecosystem puzzle. It unlocks access to the project's newly announced blockchain, which boasts groundbreaking Fully Homomorphic Encryption (FHE) technology. This technology, developed in collaboration with Zama.ai, forms the foundation of TREAT's innovative privacy layer, ensuring enhanced security and privacy for users.

The funds raised from the private token sale will be utilized by Shiba Inu's Panamanian entity, Shiba Inu Mint S.A., to meticulously develop the TREAT platform. Potential applications of this technology encompass encrypted lending platforms, tokenized asset exchanges, and encrypted machine learning models, offering boundless possibilities for innovation within the decentralized finance space.

Shiba Inu has emerged as a top-performing memecoin, witnessing a remarkable 164% gain over the past year. In December 2022, the protocol introduced .shib domains, catering to its tokenholders' needs. Additionally, Shibarium, its Layer-2 scaling solution, has garnered over 1 million users since its launch, demonstrating the project's unwavering commitment to expansion and user adoption.

About Shiba Inu

Shiba Inu is a decentralized cryptocurrency project that emerged in August 2020. Inspired by the popular Dogecoin, Shiba Inu has gained immense popularity within the cryptocurrency community. The project's ecosystem comprises SHIB, LEASH, and BONE tokens, each fulfilling distinct roles within the Shiba Inu network. Shiba Inu's mission is to empower its community, foster innovation, and drive the development of cutting-edge blockchain technology.