The Shiba Inu team has concluded a $12 million deal into their latest project, a Fully Homomorphic Encryption [FHE] blockchain, powered by TREAT token. The investment round was led by prominent venture capitalist Cypher Capital. FHE is a privacy tool that enables developers to process data on untrusted domains without decrypting it. The FHE integration is therefore designed to significantly enhance the privacy and security of online interactions across the SHIB domain.
Integral to the new FHE blockchain is the TREAT token, which the team announced will be the last non-stable token in the Shiba Inu ecosystem. Unlike stablecoins, whose value is pegged to a stable asset like the USD, non-stable tokens are subject to market conditions and can experience price volatility. TREAT will likely serve a role in governance, transaction fees, or incentivizing certain behaviors within the ecosystem.
Today’s a HUGE day for us, SHIBARMY! We’re thrilled to announce that we’ve secured a monumental $12 million from strategic VC partners led by @cypher_capital to unleash our next-gen Fully Homomorphic Encryption (FHE) blockchain via $TREAT — the final non-stable token in the Shiba Inu ecosystem! Let’s introduce our partners and dive into what this means for our community and the future of crypto
Shiba Inu’s Expanding Horizon with Zama & Manny Pacquiao Foundation
Paris-based Zama, the company behind FHE, has teamed up with Shiba Inu, promising to set new standards for privacy and security in the digital space. Interestingly, Zama was one of the 10 finalists in the RSA Conference 2023 Innovation Sandbox contest due to groundbreaking advancements in Fully Homomorphic Encryption.
“As we continue to build and innovate, your support means everything. Together, we’re not just participants in the crypto world — we’re pioneers shaping its future, one block at a time,” wrote the team.
In addition to their technical advancements, Shiba Inu is also expanding its partnerships. Recent collaborations include a venture with D3 for the creation of a .shib domain, aiming to increase the digital presence of the Shiba Inu community. Furthermore, the team has joined forces with the Manny Pacquiao Foundation in a move to support philanthropic activities through blockchain technology.
