Shytoshi Kusama, the lead of the Shiba Inu project, recently announced a momentous occasion with the completion of a $12 million funding round for TREAT. As previously reported by The Crypto Basic, the Shiba Inu ecosystem team successfully secured this substantial funding round with the help of Animoca Brands, a prominent Web3 venture capital firm, among others. Kusama revealed that the funds were obtained through the sale of the project’s utility token, TREAT, by Shiba Inu Mint S.A., a corporation based in Panama.
In light of this development, Kusama emphasized the significance of this day for Shiba Inu. He acknowledged the dedicated efforts that led to this achievement, which compelled him to frequently change his location in recent times.
Kusama also highlighted that a portion of the funds will be allocated towards enhancing security measures and ensuring compliance with evolving regulatory standards. He emphasized that this endeavor is not solely focused on scaling, but also on enriching the Shiba Inu ecosystem with new features that prioritize user privacy and data security.
Moving forward, Shiba Inu plans to introduce TREAT, the ecosystem’s latest volatile token. TREAT aims to enhance transaction privacy through Fully Homomorphic Encryption (FHE), a cutting-edge encryption method that allows users to perform calculations on encrypted data without exposing sensitive information.
Lucie, the marketing lead of Shiba Inu, shared with the SHIB Army that the concept of the TREAT token is inspired by the original vision of Shiba Inu’s pseudonymous founder. Lucie expressed excitement for the upcoming launch, indicating that Shiba Inu enthusiasts have good reason to anticipate its arrival.
Furthermore, Kusama discussed Shiba Inu’s future direction, expressing their goal to extend beyond the current cryptocurrency user base and reach a wider audience. He emphasized that they have long considered themselves a movement and aim to expand awareness of crypto to the majority of the population who are unfamiliar with it.
In conclusion, it is important to note that this content is provided for informational purposes and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not necessarily reflect those of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions, and The Crypto Basic assumes no responsibility for any financial losses incurred.