- TREAT token’s launch heralds a new era for Shiba Inu, promising groundbreaking developments.
- Shiba Inu’s collaboration with Zama for Layer-3 blockchain aims to enhance scalability and utility.
- The TREAT token, crucial for governance and utility on the new L3, is a game-changer.
Shiba Inu has recently come under the spotlight due to several important developments. One of them is the long-awaited launch of the TREAT token.
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Shiba Inu (SHIB) marketing lead Lucie recently posted a tweet on X to clarify some misunderstandings about the launch of the TreatforShib token known as TREAT. According to SHIB executives, the TREAT token has not yet been officially released. Although several journalists have made reports about how the crypto asset will be launched in 2023.
TREAT is one of the Layer-3 tokens recently highlighted in the latest version of Shiba Inu magazine called โThe Shibโ. In the magazine, the towering Layer-3 blockchain was highlighted, sparking huge interest among crypto market players. This is the result of Shiba Inu’s collaboration with Zama, and will also be accompanied by an FHE (Fully Homomorphic Encryption) based Layer-3 blockchain.
This move is considered one of the Shiba Inu ecosystem’s approaches to improving scalability on the Shibarium network, empowering high-volume transactions, and supporting complex applications. As a result, TREAT is being touted as the token that will be used for governance and utility on the new L3. In other words, it will play the same role as BONE on Shiba Inu’s scaling solution, Shibarium.
So far, the TREAT token has been used by the Shiba Inu development team. A few weeks ago, the team raised $12 million through utility and governance token TREAT to develop the privacy-focused L3 blockchain and other initiatives.
According to a published statement from Shib magazine, the round features some of the largest crypto contributors and venture capital firms including 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, Primal Capital, and Spirit Dao. Furthermore, Shiba Inu plans to use the secured funds to drive further development of the privacy-based L3 blockchain with Zama.
Shytoshi Kusama, a Shiba Inu developer, mentioned that TREAT will enter the crypto market this year, further underscoring the fact that the token has not yet launched. Meanwhile, Shibarium reached a new milestone by completing the hard fork, attracting interest from the wider crypto community. This includes the success of the Drill hard fork and the Heimdall hard fork.
In Shiba Inu’s ongoing journey, the introduction of the TREAT token and the progress of the L3 blockchain mark significant milestones. These advancements underscore the continuous evolution and innovation within the Shiba Inu ecosystem, presenting diverse avenues for cryptocurrency investors and users alike.
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