As an experienced analyst, I have followed the Shiba Inu (SHIB) ecosystem closely and have observed the recent developments regarding the TREAT token with keen interest. Based on the latest clarification from SHIB’s marketing lead Lucie, it appears that there has been some confusion surrounding the release of the TREAT token.
Lucie, the marketing head of Shiba Inu (SHIB), recently addressed some misunderstandings regarding the rollout of their TreatforShib token (TREAT) on social media platform X.
The Shiba Inu L3 Blockchain
As a researcher, I’ve come across conflicting information regarding the release of the SHIB token. According to the SHIB executive’s statements, the token has not been launched as of now. However, some media outlets have reported its launch in the year 2023. In the latest edition of Shiba Inu’s magazine, ‘The Shib,’ TREAT was featured as one of the Layer-3 tokens.
In the publication, a large-scale Layer-3 blockchain project from Shiba Inu in partnership with Zama was brought to light, generating considerable excitement among crypto market players. This development will come hand in hand with an advanced FHE (Fully Homomorphic Encryption) layer 3 blockchain.
The Shiba Inu ecosystem took a step to enhance scalability on its Shibarium network with this action, enabling larger transaction volumes and facilitating intricate apps.
@treatsforShib, aka $TREAT from , has NOT been released yet.
I’ve noticed some confused journalists posting that it was released in 2023.
NO, IT WASN’T.
ALWAYS VERIFY ON THE MAIN WEBSITE OR DISCORD.
β πππππ | SHIB.IO (@LucieSHIB) May 3, 2024
As a result, TREAT emerged as the chosen representative for administrative functions and usage on the emerging L3 platform. Essentially, it assumed the same significance as BONE within Shiba Inu’s scaling solution, Shibarium.
Shiba Inuβs TREAT and Growing Utility
To date, the TREAT token has been put to use by the Shiba Inu development team. Approximately $12 million was recently generated by the team through the sale of TREAT utility and governance tokens, which will be employed towards the creation of their upcoming privacy-focused L3 blockchain and other projects.
In the latest funding round as reported by Shib magazine, some of the most prominent names in the crypto world participated. These included Animoca Brands, Mechanism Capital, Cypher Capital, Shima Capital, Big Brain Holdings, Hercules Ventures, Morningstar Ventures, Woodstock Fund, DWF Ventures, Polygon Ventures, Stake Capital, Illuminati Digital Capital, and Primal Capital, among others. These venture capital firms and crypto contributors have made significant investments in this round.
Shiba Inu intends to utilize the secured funds for advancing the development of Zama’s privacy-focused L3 blockchain. Notably, Shytoshi Kusama, the mastermind behind Shiba Inu, has hinted that the TREAT token will be introduced to the cryptocurrency realm this year, implying that it remains unlaunched as of now.
During the past few days, Shibarium achieved a significant accomplishment as it successfully carried out a hard fork involving both the Bor and Heimdall upgrades. This development has attracted attention from the broader crypto community.
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2024-05-04 18:22