Bittime - Shiba Inu, a phenomenal memecoin project, recently achieved significant gains by successfully raising $12 million (around Rp194 billion) from the sale of the unreleased private token TREAT. This token not only serves as a utility but also has a role in the governance of the Shiba Inu ecosystem.
What is TREAT token?
The TREAT token is part of the Shiba Inu ecosystem that has various functions, including as a means of payment, rewards, incentives, staking, and use in various DeFi products and services.
The token also plays a role in the governance of the Shiba Inu ecosystem and will be used to provide balance to the Shi stablecoin. In addition, TREAT will provide rewards in the SHIB metaverse and the Shiba Inu Collectible Card Game. A limited number of TREAT tokens will be reserved for the most loyal members of the Shiba Inu community.
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Investor TREAT
On April 22, it was announced that a number of well-known investors in the crypto world, which include: Comma 3 Ventures, Big Brain Holdings, Cypher Capital, Shima Capital, Hercules Ventures, Animoca Brands, Morningstar Ventures, Woodstock Fund, DWF Ventures, Polygon Ventures, Stake Capital, Illuminati Digital Capital, Primal Capital, Mechanism Capital, DWF Ventures, and Spirit Dao.
The investors gave their trust to Shiba Inu by participating in this token sale. Interestingly, all of these investors are from outside the United States, demonstrating global reach and broad interest in the project.
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The role of Shytoshi Kusama
Shytoshi Kusama, an anonymous core developer of Shiba Inu, stated that this support will help expand the network and enhance Shiba Inu's ability to serve its community. Although Kusama has kept a low profile throughout this year, she has remained active in the development of the project and recently appeared on Telegram to respond to criticism from users.
Use of New Technology
Shiba Inu, in an effort to continue innovating, has announced the use of Fully Homomorphic Encryption (FHE) in their new blockchain. This technology allows the processing of encrypted data without the need to decrypt it first, thus ensuring data privacy and security. Two months prior to this announcement, Shiba Inu had partnered with Zama.ai to implement FHE technology, which will form the basis of their protocol's new privacy layer, Tre.
Use of Funds
The funds raised will be used by Panamian Shiba Inu's entity, Shiba Inu Mint S.A., to develop the Treat platform. The platform is expected to bring potential applications of FHE technology, including encrypted lending platforms, tokenized asset exchanges, and encrypted machine learning models.
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How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and secure way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered by Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is IDR 10,000. After that, then you can make a crypto asset purchase in the application.
Learn the Complete Guide on How to Buy Crypto on Bittime.
Monitor the price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
What is Treat (TREAT)? Shiba Inu Reward Token
Most Updated Shiba Inu (SHIB) Price Predictions, 2024 to 2030
DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.
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