- Shiba Inu publishes a new edition of the bi-weekly SHIB Magazine.
- SHIB’s new Layer-3 venture scored $12M in funding for the upcoming TREAT token.
- TREAT is slated for release by the end of the year, says Shy Kusama.
Shiba Inu (SHIB) is getting ready to release a new token called TREAT, which is focused on Shiba Inu’s latest venture, the upcoming Layer-3 blockchain. The unreleased token by SHIB Token is directed in a similar fashion to Bone ShibaSwap (BONE) on Shibarium Layer-2 chain.
Digital Collectible Giveaway In TREAT Celebration
In the near future, Shiba Inu’s TREAT awaits Layer-3 users as a reward token for staking, as well as empowering users to vote in governance proposals. While the token is still not deployed, Shiba Inu’s Layer-3 funding round has borne fruit with $12 million in funding from strategic non-US venture capital partners.
On top of that, the Shiba Inu community can get their paws on a free SHIB magazine cover as a non-fungible token (NFT). This digital collectible giveaway is run on a first come first serve basis, limited to 3,000 digital copies. As of press time, DailyCoin has calculated that 2,642 NFT mint slots have been claimed so far.
Why SHIB’s TREAT Is Fundamental For SHIB Army
This gives a reason for SHIB Army to celebrate the $12M funding round, as the profits from TREAT’s pre-market sale can significantly boost Shiba Inu’s Ecosystem. Here’s what Woodstock Fund, one of the investors in the $12M TREAT funding round, remarked:
Sponsored
“$TREAT fits the narrative of building infra on top of a loyal community, flipping the usual narrative of building tech to attract a community.” On top of that, other investors like Big Brain Holdings have confirmed that part of the reason for support is Shiba Inu’s innovative Fully Homomorphic Encryption (FHE) technology.
As Shiba Inu encompasses a huge and vibrant community of SHIB custodians, Web3 enthusiasts, and dog lovers, Woodstock Fund’s representatives argue that bringing the technology to a loyal community has a lot more potential than the “usual narrative of building tech to attract a community.”
Sponsored
Ultimately, Shiba Inu’s lead developer Shytoshi Kusama has stated that TREAT should join major crypto exchanges by the end of 2024, but also insisted that SHIB Army members should stay alert about the rising shadow cat scams, imitating the unreleased $TREAT token on various decentralized platforms in an attempt to mislead investors.
On the Flipside
- Shiba Inu’s TREAT is one of the 5 key components in Shiba Inu’s core ecosystem, including SHIB, LEASH, BONE & SHI.
- Aside from TREAT, the SHI stablecoin is also unreleased, despite being in the development phase for over two years.
Why This Matters
Shiba Inu’s initiative to build a blockchain with Fully Homomorphic Encryption (FHE) aims to provide its loyal community with a gateway to an all-around self-custodial decentralized online identity.
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