SHIB Raises $12 Million through TREAT to Build New Privacy-Focused Layer 3 Blockchain
Shiba Inu's New Blockchain
The $12 million investment in SHIB will be used to develop a privacy-focused Layer 3 blockchain called Shibarium. The network will utilize Fully Homomorphic Encryption (FHE) in partnership with Zama.ai to address privacy and trust challenges.
Key Investors
- Notable backers include Mechanism Capital, Big Brain Holdings, and Cypher Capital.
Lead Developer Shytoshi Kusama expressed gratitude to the community for their support towards realizing Shiba Inu's vision.
Establishing Shibarium as a Leading Meme HubThe funding will support Shibarium's development as a prominent meme hub and enhance security measures. The project is focused on partnerships, such as obtaining a .shib domain and joining CDSA, to ensure integrity and security.
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