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Shiba Inu Raises $12M for New Blockchain on Shibarium with TREAT Token

Apr 22, 2024, 09:24 AM

Shiba Inu has successfully raised $12 million through a token round to develop a new privacy-focused Layer 3 blockchain. The funding was obtained via the sale of TREAT tokens, which will be the final non-stable token from the Shiba Inu ecosystem. This new blockchain, built on Shibarium, Shiba Inu's Ethereum Layer 2 blockchain, aims to enhance privacy features. The TREAT token serves as the utility and governance token of this blockchain. Key investors in this round included Polygon Ventures, Animoca Brands, Mechanism Capital, Big Brain VC, and Shima Capital.