The team behind Shiba Inu, the meme coin with the highest market value after Dogecoin, received an investment of $12 million through its token called TREAT, which it has not yet released. The name of the 3rd layer blockchain where the TREAT token will be issued is kept secret to prevent the production of fake tokens with the same name.

USA debate…

It was noteworthy that most of the institutions where the token was sold were from outside the USA. These companies include Polygon Ventures, Big Brain Holdings, Animoca Brands, Morningstar Ventures, Woodstock Fund, DWF Ventures, Stake Capital and Comma 3 Ventures.

Shytoshi Kusama, the anonymous person known as the founder of Shiba Inu, stated in his statement to The Block that none of the investors are US companies. However, the headquarters of Mechanism Capital and Shima Capital appear to be in the USA.

There is a gradual investment of nearly 400 million dollars

Kusama also stated that Shiba Inu started receiving investment for this project a few months ago and completed the investment round at the beginning of this month. The Block, on the other hand, wrote in the news that it obtained from sources other than Kusama, that gradual investment rounds of 75, 100 and 200 million dollars were made in investment rounds that did not include tokens, and this capital was collected. Kusama stated that the token investment round includes both “pre-seed” and “seed” rounds.

What is TREAT token?

In the information provided by Shiba Inu for the TREAT token, the phrase “usage and governance token of the privacy-oriented 3rd layer blockchain on Shibarium” was included. As it is known, Shibarium was also removed as the 2nd layer network of Shiba Inu.

Kusama also said that the TREAT token will be the last non-stablecoin token of the Shiba Inu ecosystem. “Towards the end of the year, we will launch a new token called Shi,” Kusama said. Apart from its own token, SHIB, the ecosystem also has other tokens called BONE and LEASH.

Fake TREAT tokens have already appeared…

On the other hand, with the announcement, many tokens called TREAT were issued on various blockchains. Kusama stated that these were all fake. The testnet of the 3rd layer blockchain is aimed to be launched in the 3rd quarter of this year.

It was published:

Last update:

If you want to be the first to be informed about the latest developments, join Uzmancoin Telegram channel!


Leave a Reply