Shiba Inu Executive Sends Crucial Message On TREAT Launch

Lucie, Shiba Inu (SHIB) Marketing Lead, asked X to clear up certain confusion regarding the launch of the TreatforShib token, commonly known as TREAT.

Shiba Inu L3 Blockchain

According to SHIB executives, the tokens have not yet been released. While some journalists have reported how this crypto asset was launched in 2023, TREAT is a layer 3 token that was recently featured in the latest edition of Shiba Inu magazine called “The Shib”. It was one of the.

The magazine featured the looming Layer 3 blockchain, which generated strong interest among crypto market participants. It is the result of a collaboration between Shiba Inu and Zama and also comes with a FHE (Fully Homomorphic Encryption) based Layer 3 blockchain.

This move was recognized as one of the Shiba Inu ecosystem’s approaches towards increasing the scalability of the Shibarium network, enhancing high-volume transactions, and supporting complex applications.

As a result, TREAT was promoted as a new L3 governance and utility token. In other words, it plays the same role as BONE of the Shibarium scaling solution for Shiba Inu.

Shiba Inu treats and growing utilities

So far, the TREAT token has been put into practical use by the Shiba Inu development team. A few weeks ago, he raised $12 million through TREAT utility and governance tokens for the team to develop a new privacy-focused L3 blockchain and other initiatives.

Based on a published statement in Shib magazine, the round includes major cryptocurrency contributors including Animoca Brands, Mechanism Capital, Cypher Capital, Shima Capital, Big Brain Holdings, Hercules Ventures, Morningstar Ventures, Woodstock Fund, and DWF Ventures. Venture capital firms participated. , Polygon Ventures, Stake Capital, Illuminati Digital Capital, Primal Capital, Spirit Dao.

Shiba Inu plans to use the secured funds to further develop its privacy-based L3 blockchain with Zama City. Shiba Inu developer Shaitoshi Kusama said that TREAT will appear on the crypto market this year, further emphasizing the fact that the token is not yet publicly available.

Meanwhile, Shibarium achieved another milestone with a successful hard fork, garnering interest from the broader crypto community. This includes the successful Heimdall hard fork and the Bor hard fork.

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