Shiba Inu has secured $12 million in a funding spherical by way of the upcoming TREAT token personal token sale to energy the event of its nameless, privacy-focused Layer 3 (L3) blockchain community.

In response to a report on April twenty second put up Lucie, head of selling at Shib.io, posted on X (previously Twitter) that traders collaborating within the funding spherical embrace Polygon Ventures, Mechanism Capital, Large Mind VC, Shima Capital, Animoca Manufacturers, and DWF Ventures. was included.

Lucy stated:

“Layer 3 introduces enhanced privateness options not out there in Layer 2 networks, permitting us to offer extra privateness choices and safety measures to our customers as they work together with our ecosystem. ”

This transfer displays Shiba Inu's continued strategic shift in the direction of a flexible utility blockchain community. Notably, Memecoin started this pivot final yr with the profitable deployment of Shibarium, the ecosystem's Ethereum Layer 2 (L2) scaling resolution.

layer 3 community

Builders plan to leverage Zama Metropolis's cutting-edge Absolutely Homomorphic Encryption (FHE) know-how to construct an L3 community on prime of Shibarium.

Shiba Inu described FHE know-how as much like a “magic field.” This lets you instantly manipulate encrypted information with out decrypting it. This know-how ensures that delicate info is hidden throughout calculations.

The developer plans to launch a preliminary model of the L3 community within the third quarter of this yr. The community prioritizes regulatory compliance together with sturdy safety and privateness measures.

TREAT will function a utility and governance token for the brand new privacy-centric L3 blockchain.

Sybarium stops

In the meantime, at this time Shibarium, Shiba Inu's Ethereum Layer 2 community, skilled a short outage as a result of community points between validators.

Shiba Inu developer Karl Dahlia Stated:

“The community is at present again up and working, however some providers reminiscent of shibariumscan and exterior RPC might stay down till the supplied steps are taken.”

In response to information from SybariumScan, Sybarium has gained important reputation since its launch, reaching a complete transaction quantity of roughly 418 million transactions.

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