What is TREAT coin? How does it affect the SHIB ecosystem?

TREAT is the utility and governance token for Shiba Inu’s (SHIB) new privacy-focused layer 3 blockchain. Recently, the Shiba Inu Coin team successfully raised US$12 million through this token. However, TREAT tokens have not yet been issued, and the TREAT tokens currently displayed on cryptocurrency information platforms such as CoinGecko and CoinMarketCap are all scams.

In the next article, we will introduce in detail the new block and TREAT coin that will be released by Shiba Inu Coin.

What is TREAT coin? How does it affect the SHIB ecosystem?

According to a recent announcement by the team behind Shiba Inu (SHIB), the team successfully raised $12 million by selling its yet-to-be-released token TREAT, with investors including Mechanism Capital, Big Brain Holdings, and Cypher Capital , Shima Capital, Hercules Ventures, Animoca Brands, Morningstar Ventures, Woodstock Fund, DWF Ventures and Polygon Ventures and other venture capital (VC) companies.

TREAT is the utility and governance token for Shiba Inu Coin’s new privacy-focused Layer 3 blockchain, which is being built on its Ethereum second-layer network, Shibarium.

Shiba Inu said the team will use the funds to support the development of the Shiba Inu Layer 3 network, which uses Zama.ai’s fully homomorphic encryption technology.

Shib announced at the end of February a strategic partnership with open source cryptocurrency company Zama, which creates innovative fully homomorphic cryptocurrency solutions for blockchain and artificial intelligence. As the Shib ecosystem grows and expands, integrating Zama's solutions provides a breakthrough opportunity.

Through this new blockchain, Shiba Inu aims to make Shibarium a world meme center, solving privacy and trust issues in the crypto space for its vast community and potential new users. Additionally, the move is part of Shiba Inu's broader strategy to improve its technology stack and increase the usability and portability of its technology.

Shiba Inu lead developer Shytoshi Kusama also stated that TREAT will be the last non-stable token in the Shiba Inu ecosystem, adding that the ecosystem will launch a new token called Shi later this year. new token, but its functionality has not yet been explained.

Existing tokens in the Shiba Inu ecosystem include the popular SHIB meme coin, BONE (Shibarium’s governance token), and LEASH (a fixed supply token held by loyal Shiba Inu users to provide them with Provide perks and perks such as BONE rewards).

As previously stated by the Shiba Inucoin team, the upcoming TREAT is also designed to provide liquidity for the upcoming SHI stablecoin. Additionally, it will replace $BONE tokens as ShibSwap’s reward token and provide rewards for the Metaverse and the blockchain version of Shiba’s trading card game Shiba Eternity.

It is worth noting that the TREAT token will be minted by the Panamanian company The Shiba Inu Mint SA and has not yet been launched. Therefore, the TREAT token currently displayed on the cryptocurrency information platform is most likely a scam.

When will the new blockchain of Shiba Inu Coin be released?

Although the Shiba Inu Coin team has not yet announced the name of the new blockchain, as mentioned above, the focus of this blockchain will be on "privacy." It can be seen from the fact that it will be developed using fully homomorphic encryption technology (FHE).

FHE is considered the "Holy Grail" of cryptography, enabling end-to-end data encryption even during processing.

In addition, Shiba Inu said, “This new blockchain aims to solve multiple problems in the encryption field, including the tens of thousands of communities in the Shiba Inu ecosystem, as well as the privacy and privacy concerns of encryption users. Trust issues."

New blockchains are designed to comply with regulatory requirements. Kusama further added, “We want to build a project that is compliant with international law while also protecting data privacy and personal information security. By allowing people to securely verify their identity while protecting privacy, our entire ecosystem will simultaneously expand security. Safety and compliance."

As for the release time of the new chain, Kusama said that the new blockchain plans to release the test network in the third quarter of this year and release the main network "after thorough testing."

Overall, the Treat (TREAT) coin is the fourth upcoming token in the Shibarium ecosystem and will power a “new privacy layer” that allows developers to add a centralized network on top of Shibarium . Shiba Inu developers say the move will improve on-chain privacy for SHIB token holders and help protect their personal and transaction data.

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