Shiba Inu lead Shytoshi Kusama recently declared that this is a big day for the project, calling attention to the pivotal $12 million funding round for TREAT.
As previously reported by The Crypto Basic, the Shiba Inu ecosystem team recently secured a significant funding round of $12 million, led by prominent Web3 venture capital firm Animoca Brands and others. Kusama revealed that the funding was secured through Shiba Inu Mint S.A., a corporation based in Panama by selling its utility token named TREAT.
Amid reports of the development, Kusama noted in a recent post that the significant push makes this day a big day for Shiba Inu. He noted that the efforts put into making this a success were the reason he persistently changed his location in recent times.
So now you know why I kept changing my location while pitching to the smartest minds in our industry.
This is a big day for SHIB as we push forward for encryption and elevate our entire brand.
There’s so much in store for the army. I have never been more excited for #SHIB https://t.co/qt1dx6K7ea
— Shytoshi Kusama™ (@ShytoshiKusama) April 23, 2024
Kusama had noted that part of funds will focus on improving security measures and ensuring compliance with evolving regulatory standards. He pointed out that this move is not just about scaling but is also about enriching the Shiba Inu ecosystem with new features that address user privacy and data security.
Shiba Inu to Introduce TREAT
TREAT is positioned as the ecosystem’s last volatile token, focusing on increasing transaction privacy through Fully Homomorphic Encryption (FHE). This advanced encryption allows users to execute calculations on encrypted data without exposing sensitive information.
Shiba Inu’s marketing lead, Lucie, told the SHIB Army in a recent post that the concept of the TREAT token is inspired by the original vision of Shiba Inu’s pseudonymous founder. Lucie pointed out that Shiba Inu enthusiasts have good reason to be excited about the upcoming launch.
Shiba Inu Unveils Multiple Ways SHIB Army Can Earn TREAT https://t.co/qAVOXGyT6x
— 𝐋𝐔𝐂𝐈𝐄 | SHIB.IO 🧜🏼♀️ (@LucieSHIB) April 23, 2024
Moreover, Kusama discussed Shiba Inu’s future direction, which aims to reach beyond the current cryptocurrency users to a broader audience.
“We have considered ourselves a movement for quite a while now,” he stated. “I can’t capture much more market share of the crypto world but, boy, is there a huge part of the world, like 95% of the world, that has no idea about crypto. They might’ve seen our brand, they might’ve seen our logo but they will (know us) by the end of the year.”
