Shiba Inu Secures $12 Million Investment for Advanced Layer 3 Network Development

The Shiba Inu project team has successfully secured a $12 million investment to propel the development of a pioneering Layer 3 network. This new initiative leverages the homomorphic encryption technology provided by Zama, previously attracting a substantial $73 million in funding. The anticipated test version of this Layer 3 network is slated for release in the third quarter of 2024, aiming to meet stringent regulatory standards while prioritizing the security and privacy of its users.



This financial boost was achieved through the sale of the TREAT token to a select group of venture investors. The forthcoming blockchain network emphasizes privacy and will be constructed atop Shibarium, Shiba Inu’s Layer 2 solution designed to enhance Ethereum scalability. Despite the significant interest from the investment community, Shytoshi K


First found on: Cryptonews from Coinatory