Shiba Inu Raises $12M for New Privacy-Focused Blockchain

Apr 22, 2024, 10:33 AM

Shiba Inu has successfully raised $12 million through a token sale of its TREAT tokens to fund the development of a new privacy-focused Layer 3 blockchain. The fundraising round saw participation from notable investors including Polygon Ventures, Animoca Brands, Mechanism Capital, Big Brain VC, and Shima Capital. The TREAT token, which is the final non-stable token from the Shiba Inu ecosystem, will serve as the utility and governance token for this new blockchain, which is being built on Shibarium, Shiba Inu's Ethereum Layer 2 blockchain.