👌 Shiba Inu Secures $12M in Token Round for New Blockchain

Shiba Inu has successfully raised $12 million through the sale of its TREAT token to develop a new privacy-focused Layer 3 blockchain. Key investors include prominent names like Polygon Ventures, Mechanism Capital, and Shima Capital, despite initial concerns about the U.S. location of some investors.

The TREAT token, which will serve as the utility and governance token of this new blockchain, aims to enhance privacy using fully homomorphic encryption, a cutting-edge technology providing end-to-end data encryption. This initiative marks a significant development within the Shiba Inu ecosystem, which plans to launch the blockchain’s testnet in the third quarter of this year.

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