Shiba Inu Secures $12 Million for FHE Blockchain Development with $TREAT Token
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Shiba Inu Secures $12 Million for FHE Blockchain Development with $TREAT Token

A number of non-U.S. strategic partners in venture capital have contributed $12 million to Shiba Inu, an interconnected ecosystem of digital assets and solutions built on the Ethereum blockchain that includes the well-known global cryptocurrency $SHIB. These partners include Mechanism Capital, Big Brain Holdings, Cypher Capital, Shima Capital, Hercules Ventures, Animoca Brands, Morningstar Ventures, Woodstock Fund, DWF Ventures, Polygon Ventures, Stake Capital, Illuminati Digital Capital, Primal Capital, Comma 3 Ventures, DWF Ventures, and Spirit Dao. With a $12 million purchase of the unreleased $TREAT utility and governance token—Shiba Inu’s final non-stable token—this group of investors has made an investment in the Shiba Inu Ecosystem.

The last unreleased token from the well-known meme brand, $TREAT, is what will allow users to access Shiba Inu’s recently revealed blockchain, which features Fully Homomorphic Encryption (FHE). The FHE technology from Zama.ai, a partner, is used by the new chain. The goal of this new encryption chain is to address a number of crypto-related issues, such as privacy and trust for the billions of people who are interested in cryptocurrency as well as the vast community of tens of millions of Shiba Inu.

Shiba Inu’s Lead Developer known as Shytoshi Kusama stated:

“Shiba Inu started from the vision of our founder Ryoshi and we’ve been so thankful to the community. Together, we have changed the face of crypto as we’ve worked towards that vision. We’ve crushed expectations by creating a full-fledged ecosystem with a core technology stack that no one else has, alongside community, games, AI, metaverse, DeFi, self-sovereign identity, and encryption. We are excited to gain the support of such powerful VCs, angel investors, and brands as we plow towards the completion of this grand decentralized experiment. Through the involvement of these venture capital firms and their strategic partners, we are expanding not only our network of trusted partners, but also exponentially increasing what Shiba Inu can truly be capable of for our community, The ShibArmy.”

Through The Shiba Inu Mint S.A., a Panamanian organization, Shiba Inu will utilize the funds to develop its own blockchain with FHE, making sure Shibarium takes the lead in memes globally, and increase security and regulatory compliance. With partnerships like D3 to obtain a .shib top-level domain, charitable partnerships with organizations like the Manny Pacquiao Foundation, and memberships in groups like CDSA (Content Delivery & Security Association), the global association of security executives across Media & Entertainment, Shiba Inu is continuing to improve its stack while making its technology more usable and portable than ever.