According to BlockBeats, the Shiba Inu team has completed $12 million in financing by selling its unissued tokens TREAT to non-US venture investors. This round of financing was participated by Polygon Ventures, Mechanism Capital, Big Brain Holdings, Shima Capital, Animoca Brands, Morningstar Ventures, Woodstock Fund, DWF Ventures, Stake Capital and Comma 3 Ventures. Chief developer Shytoshi Kusama said that this round of financing started a few months ago and ended at the beginning of this month. According to sources, this is a round of financing in batches, with valuations of $75 million, $100 million and $200 million for each batch.
Shiba Inu said the TREAT token is the ‘utility and governance token’ for its new privacy-focused Layer 3 blockchain, which is built on the Ethereum Layer 2 blockchain Shibarium. Kusama said TREAT will be the last non-stable token in the Shiba Inu ecosystem, which will launch a new token called Shi later this year.
