Shiba Inu has successfully raised $12 million through the sale of its new TREAT token, with notable investors such as Polygon Ventures, Mechanism Capital, Big Brain Holdings, and Shima Capital participating in this funding initiative. The purpose of this fundraising effort is to support the development of a privacy-centric Layer 3 blockchain.

The raised capital will be allocated towards the construction of Shiba Inu’s latest project on Shibarium, its Ethereum-based Layer 2 blockchain. The introduction of the TREAT token signifies a significant advancement in expanding the Shiba Inu ecosystem. Furthermore, the team has plans to unveil another token, Shi, later this year, further strengthening the ecosystem’s resilience.

Shiba Inu’s upcoming blockchain will utilize fully homomorphic encryption (FHE) technology from Zama, a cryptographic innovation that ensures data remains encrypted even during processing. This technology is pivotal in enhancing user privacy and security, addressing critical concerns within the cryptocurrency realm.

Despite challenges like potential scams involving unverified tokens, the team is committed to implementing stringent measures to safeguard investors and the community. The official TREAT tokens will be produced by The Shiba Inu Mint S.A., located in Panama, to guarantee authenticity and security.

Shiba Inu’s strategic approach, combining cutting-edge technology with robust compliance standards, sets it apart in the cryptocurrency sphere, positioning it to cater to the needs of the growing population interested in crypto adoption.

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