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The second-largest meme token, Shiba Inu (SHIB), has raised $12 million through its TREAT token to develop its new privacy-focused Layer 3 blockchain, The Block reports.
Accordingly, the SHIB team raised $12 million from venture capital investors outside the US through its unreleased token, TREAT.
It was stated that TREAT investors include Polygon Ventures, DWF Ventures, Animoca Brands, Mechanism Capital, Big Brain Holdings, Shima Capital, Morningstar Ventures, Woodstock Fund, Stake Capital and Comma 3 Ventures.
Shiba Inu lead developer Shytoshi Kusama said:
“First of all, I would like to point out that none of the companies participating in the investment tour for TREAT are based in the USA.
While TREAT is an unstable token in the Shiba Inu ecosystem, as the SHIB team, we will introduce a new token called Shi later this year.
“The ecosystem's existing tokens include the popular meme token SHIB, Shibarium's governance token BONE, and Shiba Inu token LEASH, which is held by loyal users and provides its users with benefits and privileges such as BONE rewards.”
Pointing out that the TREAT token has not been released yet, Kusama stated that the TREAT tokens available on CoinGecko and CoinMarketCap are not real TREAT tokens and that the original TREAT token will be issued by Shiba Inu Mint SA, a Panamanian company.
*This is not investment advice.