Blockchain
Shiba Inu raises $12 million in token round for its new blockchain
The team behind the well-known memecoin Shiba Inu (SHIB +2.03%) has raised $12 million by selling its yet-to-be-released token, TREAT, to venture capital investors outside the United States. These investors include Polygon Ventures, Mechanism Capital, Big Brain Holdings, Shima Capital, Animoca Brands, Morningstar Ventures, Woodstock Fund, DWF Ventures, Stake Capital, and Comma 3 Ventures, as announced by Shiba Inu on Monday.
Although some of these investors, like Mechanism Capital and Shima Capital, seem to be based in the U.S., Shiba Inu’s lead developer, known as Shytoshi Kusama, stated that none of the investors are U.S.-based, although full entity names may not be disclosed when questioned.
The fundraising for this round began a few months ago and concluded earlier this month, according to Kusama. However, he declined to comment on the valuation. Still, a source with direct knowledge of the matter revealed that it was a staged round, with each stage occurring at valuations of $75 million, $100 million, and $200 million, respectively.
Kusama mentioned that the token round includes both pre-seed and seed rounds.
The TREAT token, according to Shiba Inu, will function as the “utility and governance token” of its new privacy-focused Layer 3 blockchain, which is being constructed on Shibarium, its Ethereum Layer 2 blockchain.
TREAT will be the last non-stable token from the Shiba Inu ecosystem, said Kusama, adding that the ecosystem will introduce a new token called Shi later this year. The ecosystem currently includes popular tokens like the SHIB memecoin, BONE, Shibarium’s governance token, and LEASH. Despite the fact that the TREAT token has not been released yet, CoinGecko and CoinMarketCap are already displaying some trading volume for certain TREAT tokens. Kusama referred to this as a “scam.” The genuine TREAT token will be minted by The Shiba Inu Mint S.A., a Panama corporation, according to Kusama.
Shiba Inu is developing its new Layer 3 blockchain using fully homomorphic encryption technology from cryptography company Zama, which recently raised $73 million in funding. FHE is considered the “holy grail” of cryptography, enabling end-to-end data encryption, even during processing. “This new encryption chain aims to address multiple issues in crypto, including privacy and trust for Shiba Inu’s extensive community of tens of millions and the next billion crypto-curious individuals,” said Shiba Inu.
The new blockchain is intended to comply with regulatory requirements. “It’s important that we maintain a project that conforms to international law while protecting the privacy of data, and security of individuals,” Kusama said. “By allowing people to both be private yet still gain credentials to verify their identity, our entire system extends security and compliance at the same time.”
Kusama declined to disclose the name of the Layer 3 blockchain to “ensure that there are no scammers” like fake TREAT tokens.
The new blockchain is scheduled to release a testnet in the third quarter of this year and the mainnet “after thorough testing,” according to Kusama.
Source: theblock.co
The post Shiba Inu raises $12 million in token round for its new blockchain appeared first on HIPTHER Alerts.
Blockchain
WadzPay Plans to Expand Portfolio into Stablecoin Business
WadzPay, a leading fintech company specialising in blockchain based technology for virtual asset payment solutions, is proud to announce its plan to enter the Stablecoin business, marking a significant expansion of its offerings. With a steadfast commitment to innovation and addressing evolving market demands, the company has strategically positioned itself to capitalise on the growing opportunities within the virtual asset financial services space.
Blockchain
RevoluGROUP Announces CEO and Director Stepping Down
Blockchain
ZettaBlock announces the addition of blockchain data
ZettaBlock, a leading provider of blockchain solutions, has recently announced a significant enhancement to its offerings with the addition of blockchain data services. This development marks a strategic move aimed at bolstering ZettaBlock’s capabilities and further solidifying its position in the blockchain industry.
By integrating blockchain data services into its portfolio, ZettaBlock seeks to address the growing demand for comprehensive and reliable data solutions within the blockchain ecosystem. The new offering will enable clients to access a wealth of blockchain data, empowering them to make informed decisions and derive valuable insights from the vast amount of information available on various blockchain networks.
ZettaBlock’s decision to expand its services comes at a time when the importance of blockchain data analytics is increasingly recognized across industries. With blockchain technology continuing to gain traction and adoption worldwide, the ability to effectively harness and analyze blockchain data has become crucial for businesses and organizations seeking to unlock new opportunities and drive innovation.
Through its blockchain data services, ZettaBlock aims to cater to the diverse needs of its clients, providing them with access to real-time and historical data from a wide range of blockchain networks. This includes transaction data, smart contract metrics, network activity, and more, allowing users to gain deeper insights into blockchain transactions and activities.
The addition of blockchain data services represents a significant milestone for ZettaBlock, underscoring the company’s commitment to delivering cutting-edge solutions that meet the evolving needs of the blockchain industry. As businesses increasingly recognize the value of blockchain data in driving decision-making and enhancing operations, ZettaBlock’s comprehensive data services are poised to play a key role in shaping the future of blockchain analytics.
Source: cryptonewsz.com
The post ZettaBlock announces the addition of blockchain data appeared first on HIPTHER Alerts.
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