Shiba Inu raises $12 million to develop Layer 3 network
The Shiba Inu Project team has completed a $12 million investment round. The Shiba Inu team is developing a Layer 3 network using Zama's homomorphic encryption technology, which has attracted $73 million in funding.
A beta version of the Layer 3 network will be launched in Q3 2024 and will comply with regulatory requirements while ensuring community security and privacy. The financing was carried out by selling the TREAT token to venture investors.
The new blockchain technology focuses on privacy and is built on Shibarium, a layer 2 solution for Ethereum. Shiba Inu's lead developer, Chitoshi Kusama, declined to reveal the full list of investors. He noticed that there were none in the United States.
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