Shiba Inu Raises $12M For New L3
Two SEC Lawyers Resign After Judge's Harsh Criticism, Stacks Is Rolling Out "Nakamoto" Upgrade
Shiba Inu has raised a $12 million round through the TREAT token to develop a new, privacy-focused layer 3 chain on top of the existing Shibarium layer 2.
This privacy technology will come from Zama, a cryptography company that has recently raised $73 million in funding.
The new L3’s privacy features will be achieved by using fully homomorphic encryption (FHE) — a method that enables computation with encrypted data, creating complete confidentiality of it.
The investors include Animoca Brands and Polygon Ventures, Mechanism Capital, Big Brain Holdings and Shima Capital
The L3 will be powered by the upcoming TREAT token, fake versions of which have been spotted on CoinMarketCap, and Shiba Inu’s anonymous leader Shytoshi Kusama said that the token will be minted by The Shiba Inu Mint S.A.
Other Shiba Inu ecosystem’s tokens include SHIB, Shibarium’s governance token BONE, and user loyalty program-based LEASH token.
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