Shiba Inu Coin Q3 will launch a privacy-focused Layer 3 public chain and issue new currency TREAT

This site (120BtC.coM): Shiba Inu, the development team behind the meme currency SHIB (Shiba Inu Coin), stated on Monday (22) that it has passed the approval to a number of non-U.S. investors It raised $12 million from the sale of its currently unreleased token $TREAT. Investors include Polygon Ventures, Mechanism Capital, Animoca Brands, DWF Ventures, Stake Capital, Comma3 Ventures, etc.

What is the new TREAT token?

Shiba Inu said that it is developing a new Layer3 blockchain on the Ethereum Layer2 network Shibarium using cryptographic technology company Zama’s fully homomorphic encryption technology, and plans to release a testnet in Q3. Although it is currently The name of the chain has not yet been announced, but its focus is on "privacy": this new blockchain aims to solve multiple problems in the encryption field, including the tens of thousands of communities in the ShibaInu ecosystem, and the privacy concerns of encryption users and trust issues.

Shytoshi Kusama, the main developer of SHIB, further added: We want to build a project that not only complies with international law, but also protects data privacy and personal information security. By allowing people to securely verify their identity while protecting privacy, our entire ecosystem will expand both security and compliance.

Token $TREAT will be used as the practical and governance token of this new Layer3 network. It will also be the last non-stable token launched in the ShibaInu ecosystem. Shytoshi Kusama also predicted that it will be launched later this year. A new token called Shi will be launched later, but its functions have not yet been explained.

However, investors should note that the $TREAT token has not yet been officially released to the market. Therefore, the TREAT tokens currently on the market are likely to be impostors who use this to commit fraud. Investors should Screen carefully to avoid asset loss.

Shiba Inu ecological overview: sufficient innovation but poor results

Although SHIB is committed to diversified construction, in August 2023, it launched its own Ethereum L2 solution Shibarium, with new The ERC20 token BoneShibaSwap (BONE) serves as Gas fee and focuses on the Metaverse and GameFi fields.

In addition, DEX Shibaswap was launched in July 2021 and Doge Killer (LEASH) was issued, but it is difficult to get rid of the label of its Meme currency. The user adoption rate of the above-mentioned projects is not high. Will it be possible in the future? It still takes time to see whether it can successfully attract users into its ecosystem.

At the time of writing, SHIB is currently trading at $0.00002668, with an increase of 1.5% in the past 24 hours.

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