Shiba Inu, a prominent name in the cryptocurrency world, has successfully raised $12 million through a strategic sale of its upcoming TREAT token. This funding is earmarked for the development of a Layer-3 blockchain, aimed at significantly enhancing the functionalities of the Shiba Inu ecosystem. This new blockchain layer, which is built atop Shibarium, an Ethereum Layer-2 solution, promises to integrate advanced cryptographic techniques like fully homomorphic encryption to ensure privacy and security. The involvement of notable investors such as Polygon Ventures, Mechanism Capital, and Animoca Brands underscores the project's potential and the growing interest in more sophisticated blockchain infrastructures. This initiative is not just a technological upgrade but also a strategic move to broaden the Shiba Inu ecosystem with new offerings, including the planned introduction of a new token, Shi, later this year.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.
