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Despite a volatile 2022 and a challenging 2023, Shiba Inu remains dedicated to its vision of building an inclusive cryptocurrency ecosystem.
Following the development of Metaverse and Layer 2 Chain, Shiba Inu is now ramping up its efforts on a new privacy-centric Layer 3 blockchain. Last month, the project team announced that the project was a success. raised $12 million This will be done through the sale of TREAT, a token that has not yet been released. This is a layer 3 chain utility and governance token.
Bill ChenChairman of Cypher Capital, one of the main backers of this initiative, recently joined Crypto Briefing to talk about the future of meme coins, Layer 3, and the role of Shiba Inu in reshaping the future of finance and decentralized governance. We talked.
Shiba Inu building an ecosystem
Crypto Briefing – Cypher Capital’s investment in Shiba Inu signals your belief in the project’s potential. Could you elaborate on any aspects of the project or roadmap that you think are particularly promising for the future?
Bill Qian – Our decision to invest in Shiba Inu aligns with our mission to lead the next generation into the cryptosphere. Shiba’s unique approach caught our attention, especially its ambitious plan to build layer 3 and establish network state (a concept that is under-explored in the cryptocurrency world).
The prospect of experimenting with new models and pushing the boundaries of distributed systems excites us. As participants in the crypto space, we are inspired by Shiba Inu’s dedication to building dynamic communities, forming strategic partnerships, and promoting inclusive governance.
We are optimistic that Shiba Inu will be a pioneer in the movement to reshape the future of finance and decentralized governance.
Crypto Briefing – Shiba Inu has a passionate community. Do you think this community engagement is a key factor in the success of meme coins?
Bill Qian – Without a doubt, community engagement plays a vital role in the success of meme coins like Shiba Inu. Shiba remains one of the most decentralized projects, with over 1 million on-chain holders. This is huge.
The passionate and active community surrounding Shiba not only drives awareness and adoption, but also contributes to the ongoing development and evolution of the project.
We recently watched Shiba climb the rankings from top 30 to top 10 in a short period of time early in this year’s meme season. None of this would have been possible without the community being excited about the potential of the token.
Crypto Briefing – Do you think meme coins have the potential to evolve beyond their current form and offer more utility within the blockchain space? How do you see this happening with Shiba Inu’s Layer 3 blockchain? Can you imagine it?
Bill Chen – Of course. Community engagement is key to the project’s success, and Shiba Inu has already shown its strengths in building a supportive community around its memes. I think Shiba is evolving beyond just a meme coin. It’s becoming an ecosystem.
Unlike its peers, Shiba Inu is committed to building around community and extending its usefulness beyond memes. Over the past three years, the team has focused on developing innovations to strengthen the community and solidify its status as a top He token.
With the introduction of Shiba Inu’s Layer 3 blockchain, we are excited about the real-world applications that will soon be deployed on Treats, Shiba Inu’s Layer 3 that powers network state. This opens new possibilities for Shiba to provide practical solutions and utilities within the blockchain space.
Layer 3: Opportunities and challenges
Crypto Briefing – Speaking of Layer 3 blockchain, how do you think this layered approach could revolutionize the way dApps are built and used?
Bill Qian – We believe that a multi-layered approach to blockchain infrastructure development has tremendous potential to revolutionize the way dApps are built in the future.
By assigning specific functionality to different layers, developers can optimize each layer for its intended purpose while leveraging the strengths of other layers.
We are already seeing this evolution in action, with Web3 Games building their own Layer 3 solutions to take advantage of the security and scalability provided by existing Layer 1 and Layer 2, while adapting them according to their specific requirements. Customizing the chain.
In the future, I envision that every project within the niche will have a purpose-driven layer 3 that powers its ecosystem, resulting in greater efficiency and flexibility in the development and use of dApps. Masu.
Crypto Briefing – Layer 3 offers immense opportunities, but what do you think are the potential challenges we may face in terms of infrastructure development and interoperability between these layers? mosquito?
Bill Qian – One of the significant challenges with new infrastructure is the cold start problem resulting from the lack of users and developers in the field. We are in the crypto attention economy. There, projects compete for visibility and adoption, which can be a major hurdle.
Additionally, as projects increasingly focus on building their own Layer 3 solutions, interoperability and compatibility between these layers can become more complex. This fragmentation can cause confusion for end users and prevent seamless integration and interaction of dApps between different layers.
Addressing these challenges will require collaboration between projects, protocol standardization, and efforts to educate and familiarize users and developers with new infrastructure solutions. Although this will take time, we are optimistic that such layers will become commonplace and widely used in cryptocurrencies in the future.
Crypto Briefing – Do you think Layer 3 has the potential to bridge the gap between traditional applications and blockchain technology?
Bill Qian – I think layer 3 solutions will continue to be built and deployed. Success in bridging the gap between traditional apps and blockchain will depend on the team’s purpose, ease of use, and execution. Success depends on factors such as ease of use, scalability, and compatibility with existing ecosystems.
At the end of the day, I think it all comes down to how people accept and use these technologies in real-world scenarios.
Memecoins could outperform top altcoins this season, but there are pitfalls
Crypto Briefing – Do you think venture capital investment strategies may shift towards meme coins, even if they don’t necessarily align with traditional solid projects?
Bill Qian – Not necessarily. While Cypher Capital remains focused on investing in blockchain infrastructure, it recognizes the importance of memes in capturing market attention.
Our Shiba Inu investment embodies this balance. His Shib’s unique position as both a meme and an infrastructure development project is consistent with our strategy of balancing attention and technology.
Crypto Briefing – In your experience, how is the current bull cycle different from previous bull cycles from a memecoinmania perspective? How long do you think it will take VCs to adapt to this change?
Bill Qian – Investors are channeling liquidity into high-profile projects, and it is essential to recognize that retail investor interest in memes has increased during this cycle.
In my experience, I’ve seen two cycles in the past where retail investors made big profits. However, the bear market of the past two years has made many retail investors more cautious before jumping into projects.
This season will be different. Perhaps Meme will outperform the top altcoins, but it will be very difficult for investors to adapt to this change.
Regardless of short-term trends, it’s important to diligently study market dynamics to understand what causes these changes and determine where it makes sense to take calculated risks.
Although meme-driven projects can offer the opportunity for big profits, all investors should stick to their investment principles and conduct thorough analysis before making investment decisions or impulsively adapting to new changes. you need to do.
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