Shiba Inu has taken a significant step towards enhancing user privacy and security within its ecosystem. Shiba Inu is launching a new privacy layer powered by the TREAT token, signifying a major development for the SHIB token and the wider Shiba Inu ecosystem.
This announcement comes after a period of strategic recruitment by Shytoshi Kusama, the Shiba Inu lead developer, who hinted at his efforts to collaborate with industry leaders.
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Earlier this year, Kusama changed his location on X multiple times to different places around the globe, causing speculation among the community about his cryptic actions.
Kusama wrote on X, “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.”
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
The TREAT Token
The TREAT token is the final non-stablecoin within the Shiba Inu ecosystem, which will serve as the foundation for Shiba Inu’s innovative privacy layer. The official announcement from the TREAT account revealed that the project received a significant financial boost through a $12 million funding round led by Cypher Capital, a venture capital firm specializing in blockchain technology. TREAT also listed a large number of partners comprising some of the biggest names in the crypto industry.
This funding will be instrumental in propelling the development and deployment of Shiba Inu’s next-generation Fully Homomorphic Encryption (FHE) blockchain. FHE is a cutting-edge cryptographic technique that allows computations to be performed on encrypted data without decryption.
This groundbreaking technology offers unparalleled security and privacy for user data within the Shiba Inu ecosystem. Transactions and personal information will remain confidential, addressing a critical concern for experienced and new cryptocurrency users.
With increasing scam attempts within the ecosystem, developers can take advantage of this added layer of security to protect community members. The introduction of FHE technology signifies a significant leap forward for Shiba Inu.
Since its inception, the project, inspired by the vision of Ryoshi, has evolved into a multifaceted ecosystem encompassing decentralized finance (DeFi), artificial intelligence (AI), and gaming functionalities. The addition of FHE strengthens the ecosystem’s foundation by prioritizing user privacy and security.
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The $12 million funding round serves a dual purpose. It bolsters Shibarium’s position as a leading platform within the meme coin sector and fuels the expansion of the Shiba Inu ecosystem’s utility.
Additionally, strategic partnerships with D3 for a dedicated .shib top-level domain and philanthropic initiatives undertaken in collaboration with the Manny Pacquiao Foundation demonstrate the project’s commitment to extending its influence. As Kusama stated, there’s much more in store for the SHIB army.
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