Shiba Inu Announces $12 Million Investment to Develop Confidential Blockchain
Date: 2024-04-23 Author: Gabriel Deangelo Categories: BUSINESS
Shiba Inu, an ecosystem known for its SHIB token, announced a successful $12 million investment to develop its privacy-focused blockchain.
Investors and the Token Sale Round
The investment round attracted significant participants, including Animoca Brands, DWF Ventures, Polygon Ventures and others. In total, investors purchased the new TREAT governance token worth $12 million.
The transaction was completed through Shiba Inu Mint SA, an ecosystem development firm registered in Panama. Details of the deal were presented in a press release published on Monday.
Features of the New Network
The new Shiba Inu blockchain will be privacy-focused and built on top of Shibarium, a layer-2 blockchain based on Ethereum. The network is expected to use innovative technologies, including Full Homomorphic Encryption (FHE), to ensure data privacy without the need to decrypt it.
SHIB, the Shiba Inu token, has seen a 2.2% gain over the past 24 hours, in line with the CoinDesk 20 Index, confirming investor interest in the project, which ranks as the 12th largest cryptocurrency with a market capitalization of nearly $16 billion. dollars.
