Shiba Inu Announces $12M Funding Round for New Layer-3 Blockchain
Shiba Inu, the meme coin project, has successfully closed a $12 million funding round to support the development of a new Layer-3 (L3) blockchain with a focus on privacy. This milestone comes after a series of achievements within the project, including market success and strategic partnerships to enhance convenience and utility for its dedicated community, the Shib Army.
Key Investors in the Funding Round
- The funding round involved selling the $TREAT utility token, attracting investments from prominent investors such as Mechanism Capital, Big Brain Holdings, and more.
- Shytoshi Kusama, the lead developer of Shiba Inu, highlighted the importance of these investments in bringing influential individuals into the project.
Focus on Privacy in the New L3 Network
The upcoming L3 network by Shiba Inu will prioritize privacy, with $TREAT serving as the governance and utility token. This focus on privacy enhancements aims to broaden the project’s user base beyond the current crypto audience and leverage advancements in blockchain technology.
Strategic Partnerships for Enhanced Privacy
- Shiba Inu partnered with Zama to integrate encryption tools using Fully Homomorphic Encryption (FHE) for improved privacy on the chain.
- The project also collaborated with D3 to offer *shib domain names, enabling seamless integration between Web2 and Web3 environments.
Future Plans and Security Measures
- The $TREAT token, minted by Shiba Inu Mint S.A., will support the development of the L3 blockchain and reinforce security and regulatory compliance.
- These efforts are essential for the long-term growth and sustainability of the Shiba Inu ecosystem.
Hot Take: A Bright Future Ahead for Shiba Inu
As Shiba Inu continues to innovate and expand its offerings, the future looks promising for the project and its dedicated Shib Army community. With a strong focus on privacy, strategic partnerships, and funding secured for the development of a new Layer-3 blockchain, Shiba Inu is set to make a significant impact in the crypto space. Stay tuned for more updates and developments on this exciting journey!
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