Shiba Inu (SHIB) Raises $12 Million in Funding for Its Novel FHE Blockchain

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In a recent funding event, individuals acquired the upcoming cryptocurrency TREAT, which is reportedly the last non-stable coin in the SHIB cryptocurrency ecosystem that has not been launched yet.

Shiba Inu (SHIB) completes $12 million funding round backed by tier-1 VCs

Shiba Inu (SHIB), an ecosystem of interconnected blockchain solutions on top of Ethereum (ETH), shares the details of its latest funding round so far. A total of $12 million was secured from a clutch of highly reputable VCs, including Mechanism Capital, Big Brain Holdings, Cypher Capital, Shima Capital and Hercules Ventures.

Set your alarm, it’s #SHIBArmy Time! — Shib (@Shibtoken) April 10, 2024

These venture firms – Animoca Brands, Morningstar Ventures, Woodstock Fund, Polygon Ventures, Stake Capital, Illuminati Digital Capital, Primal Capital, Comma 3 Ventures, DWF Ventures, and Spirit Dao – all contributed to Shiba Inu’s fundraising campaign.

In simpler terms, international investors acquired Shiba Inu’s latest non-stable token, which had not been released to the public yet and focuses on utility and governance for the TREAT project.

The new Shiba Inu blockchain will incorporate TREAT as a significant tokenomic feature, utilizing the Fully Homomorphic Encryption (FHE) technology from our partner Zama.ai for enhanced security and functionality.

This newly introduced encryption system intends to address several challenges in the crypto world for Shiba Inu’s vast following of over forty million people and the next billion potential crypto enthusiasts. It focuses on ensuring privacy and building trust.

Shiba Inu (SHIB) ecosystem scores game-changing partnerships

Shytoshi Kusama, the leading developer of Shiba Inu, emphasizes that the debut of a new blockchain supported by robust investors will fortify SHIB‘s role as a comprehensive ecosystem for various blockchain applications.

Shiba Inu was founded by Ryoshi with a clear vision, and we’re grateful for the community’s support in bringing it to life. Together, we’ve disrupted the crypto world by developing a unique ecosystem. Our technology stack is unlike any other, featuring components such as community, games, AI, metaverse, DeFi, self-sovereign identity, and encryption. We’re thrilled to have the backing of influential venture capitalists, angel investors, and brands as we continue our journey towards completing this groundbreaking decentralized project. By collaborating with these partners, Shiba Inu is not only expanding its network but also enhancing its potential to benefit our community, the ShibArmy.

Through Shiba Inu Mint S.A., Shiba Inu will allocate the funds for developing a new blockchain, incorporating FHE technology, establishing it as the leading meme platform in the Web3 community, enhancing network security, and ensuring regulatory compliance.

Shiba Inu is constantly improving its system and making its technology more accessible and convenient in various locations. For instance, it has formed alliances such as D3 to secure a .shib domain, collaborated with charities like the Manny Pacquiao Foundation, and joined groups including the CDSA (Content Delivery and Security Association) and international security executives association.

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2024-04-22 18:29