Shiba Inu has raised $12 million to develop a new blockchain. Also, the developer of SHIB has warned users not to fall prey to scammers.
Shiba Inu (SHIB), the second-largest memecoin, has raised $12 million through its TREAT token for the development of its layer-3 blockchain with a focus on privacy, The Block reports.
Accordingly, the SHIB team raised the $12 million from non-U.S. venture capital investors through a newly issued token called TREAT.
The TREAT investors were revealed to 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’s lead developer, Shytoshi Kusama stated:
He also stressed that the TREAT token has not been released yet, hence any TREAT tokens available on CoinGecko and CoinMarketCap are products of scammers.
He advised investors to exercise caution and conduct thorough due diligence, adding that TREAT will be initially released by Shiba Inu Mint SA, a Panama-based company.
