😱💲💲Shiba Inu raises $12 million in token round for its new blockchain
#ShibaInu has raised $12 million through the #TREAT token to develop its new privacy-focused Layer 3 blockchain.
The investors include Polygon Ventures, Mechanism Capital, Big Brain Holdings and Shima Capital Dec.
Shiba Inu, the team behind the popular namesake memecoin, has raised $12 million by selling its unreleased token Treat to venture capital investors outside the United States. Shiba Inu said on Monday that these investors include Polygon Ventures, Mechanism Capital, Big Brain Holdings, Shima Capital, Animoca Brands, Morningstar Ventures, Woodstock Fund, DWF Ventures, Stake Capital and Comma 3 Ventures.
However, when questioned, some of these investors, such as Mechanism Capital and Shima Capital, seem to be headquartered in the USA, Shiba Inu's lead developer, known as Shytoshi Kusama, told The Block that none of the investors are based in the USA.
Kusama said Shiba Inu started offering raises for the tour a few months ago and finished it earlier this month. He declined to comment on the valuation, but a source with direct knowledge of the matter told The Block that it is a tranched round, with each tranche occurring at valuations of $75 million, $100 million and $200 million, respectively.
Kusama said that the coin round consists of both pre-seed and seed rounds.
Shiba Inu's TREAT token
According to Shiba Inu, the TREAT token serves as a "utility and governance token" of the new privacy-oriented Layer 3 blockchain, built on Shibarium, the Ethereum Layer 2 blockchain.
TREAT will be the last non-stable token of the Shiba Inu ecosystem, Kusama said, adding that the ecosystem will introduce a new token called Shi later this year.
Although the TREAT token has not been released yet, CoinGecko and CoinMarketCap are already displaying some trading volume for certain TREAT tokens. Kusama called it a "hoax". Kusama said, " The authentic CATERING token is Shiba Inu Mint S, a Panamanian company.A. it will be printed by," he said.
