Shiba Inu Secures $12M Investment for Layer-3 Blockchain
The new TREAT blockchain will operate as a layer-three network built on top of Shibarium, a layer-2 scalability-focused platform that operates on Ethereum.
Shiba Inu, the decentralized cryptocurrency ecosystem built on the Ethereum blockchain, has successfully raised $12 million in a venture capital round. The funding is led by prominent crypto venture capitalists, including Animoca Brands, Big Brain Holdings, Mechanism Capital, DWF Ventures, and Spirit Dao.
The investment targets the creation of Shiba Inu's layer-3 blockchain, integrating Fully Homomorphic Encryption (FHE) technology through a collaboration with Zama.ai. The forthcoming $TREAT utility and governance token, which is the last unreleased token in the Shiba Inu ecosystem, is set to be pivotal in unleashing the capabilities of the blockchain.
According to Shiba Inu's Lead Developer, known as Shytoshi Kusama, the funding represents a vote of confidence from the investor community in the project's vision and capabilities. This financial backing from venture capital firms and strategic partners will facilitate the expansion of Shiba Inu's network and the pursuit of innovative opportunities.
The funds raised through The Shiba Inu Mint S.A. will be allocated towards building the new blockchain infrastructure, enhancing security measures, and ensuring regulatory compliance. Additionally, Shiba Inu aims to establish Shibarium as the meme center of the world and strengthen partnerships with organizations such as D3 and the Manny Pacquiao Foundation.
Shiba Inu has garnered significant popularity, boasting millions of holders worldwide and consistently ranking among the most searched crypto projects on Google. With its diverse ecosystem of tokens, including $SHIB, $LEASH, and $BONE, as well as native SHIBOSHIS and SHEboshi NFTs, Shiba Inu continues to push the boundaries of decentralized finance and technology.
