Shiba Inu’s layer 3 blockchain set to power up blockchain real-world utility: Cypher Capital Chairman
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Despite
a
shaky
2022
and
a
challenging
2023,
Shiba
Inu
remains
dedicated
to
its
vision
of
building
a
comprehensive
crypto
ecosystem.
Following
the
development
of
its
metaverse
and
layer
2
chain,
Shiba
Inu
is
now
ramping
up
efforts
for
its
new
privacy-centric
layer
3
blockchain.
Last
month,
the
project
team
announced
that
it
successfully
raised
$12
million
through
the
sale
of
its
not-yet-released
token,
TREAT,
the
utility
and
governance
token
for
its
layer
3
chain.
Bill
Qian,
Chairman
of
Cypher
Capital,
one
of
the
initiative’s
major
backers,
recently
joined
Crypto
Briefing
to
discuss
the
future
of
memecoins,
layer
3,
and
Shiba
Inu’s
role
in
reshaping
the
future
of
finance
and
decentralized
governance.
Shiba
Inu
is
building
an
ecosystem
Crypto
Briefing
–
Cypher
Capital’s
investment
in
Shiba
Inu
suggests
your
belief
in
the
potential
of
the
project.
Can
you
elaborate
on
aspects
of
the
project
or
roadmap
that
you
find
particularly
promising
for
the
future?
Bill
Qian
–
Our
decision
to
invest
in
Shiba
Inu
aligns
with
our
mission
to
usher
the
next
generation
into
the
cryptosphere.
Shiba’s
unique
approach,
particularly
its
ambitious
plans
to
build
a
Layer
3
and
establish
a
network
state—a
concept
that
hasn’t
been
fully
explored
in
the
crypto
world—captured
our
attention.
The
prospect
of
experimenting
with
novel
models
and
pushing
the
limits
of
decentralized
systems
excites
us.
As
participants
in
the
crypto
space,
we
find
Shiba
Inu’s
dedication
to
building
a
dynamic
community,
forming
strategic
partnerships,
and
promoting
inclusive
governance
inspiring.
We
are
optimistic
that
Shiba
Inu
will
pioneer
a
movement
that
will
reshape
the
future
of
finance
and
decentralized
governance.
Crypto
Briefing
–
Shiba
Inu
has
a
passionate
community.
Do
you
see
this
community
engagement
as
a
key
factor
in
the
success
of
meme
coins?
Bill
Qian
–
Without
a
doubt,
community
engagement
plays
a
pivotal
role
in
the
success
of
meme
coins
like
Shiba
Inu.
Shiba
is
still
one
of
the
most
decentralized
projects
out
there,
with
over
1
million
on-chain
holders—this
is
massive.
The
passionate
and
active
community
surrounding
Shiba
not
only
drives
awareness
and
adoption
but
also
contributes
to
the
project’s
ongoing
development
and
evolution.
Recently,
we
observed
Shiba
moving
up
in
ranking
from
the
top
30
to
the
top
10
for
a
brief
period
during
the
early
meme
season
this
year.
This
wouldn’t
have
been
possible
if
the
community
wasn’t
excited
about
the
token’s
future
potential.
Crypto
Briefing
–
Do
you
see
meme
coins
potentially
evolving
beyond
their
current
form
and
offering
more
utility
within
the
blockchain
space?
How
might
you
envision
this
happening
with
Shiba
Inu’s
layer
3
blockchain?
Bill
Qian
–
Absolutely.
Community
engagement
is
key
to
a
project’s
success,
and
Shiba
Inu
has
already
shown
its
strength
in
building
a
supportive
community
around
its
meme.
I
see
Shiba
evolving
beyond
just
a
memecoin;
it’s
becoming
an
ecosystem.
Unlike
its
peers,
Shiba
Inu
is
committed
to
building
around
its
community
and
expanding
its
utility
beyond
being
a
meme.
Over
the
past
three
years,
the
team
has
been
focused
on
developing
innovations
to
strengthen
the
community
and
solidify
its
position
as
a
top
token.
With
the
introduction
of
Shiba
Inu’s
Layer
3
blockchain,
we’re
excited
about
the
real-world
applications
that
will
soon
deploy
on
Treats
–
Shiba’s
Layer
3
that
powers
the
network
state.
This
opens
up
new
possibilities
for
Shiba
to
offer
practical
solutions
and
utility
within
the
blockchain
space.
Layer
3:
Opportunities
and
challenges
Crypto
Briefing
–
Speaking
of
layer
3
blockchain,
how
do
you
think
this
layered
approach
can
revolutionize
the
way
dApps
are
built
and
used?
Bill
Qian
–
I
believe
the
layered
approach
to
blockchain
infrastructure
development
holds
immense
potential
to
revolutionize
the
way
dApps
are
built
in
the
future.
By
allocating
specific
functions
to
different
layers,
developers
can
optimize
each
layer
for
its
intended
purpose
while
leveraging
the
strengths
of
the
others.
We’re
already
seeing
this
evolution
in
action,
with
Web3
games
building
their
own
layer
3
solutions
to
customize
their
chains
according
to
their
specific
requirements
while
leveraging
the
security
and
scalability
provided
by
existing
layer
1s
and
layer
2s.
In
the
future,
I
envision
every
project
within
a
niche
having
a
purpose-driven
layer
3
to
power
its
ecosystem,
resulting
in
greater
efficiency,
and
flexibility
in
the
development
and
utilization
of
dApps.
Crypto
Briefing
–
While
layer
3
offers
immense
opportunity,
what
are
some
potential
challenges
you
think
we
might
face
in
terms
of
infrastructure
development
and
interoperability
between
these
layers?
Bill
Qian
–
One
of
the
significant
challenges
with
any
new
infrastructure
is
the
cold
start
problem,
which
arises
from
a
lack
of
users
and
developers
in
the
space.
We
are
in
the
attention
economy
of
crypto,
where
projects
compete
for
visibility
and
adoption,
and
this
can
pose
a
significant
hurdle.
Moreover,
as
projects
increasingly
focus
on
building
their
own
layer
3
solutions,
interoperability
and
compatibility
between
these
layers
may
become
more
complex.
This
fragmentation
could
lead
to
confusion
for
end-users
and
hinder
the
seamless
integration
and
interaction
of
dApps
across
different
layers.
Addressing
these
challenges
will
require
collaboration
among
projects,
standardization
of
protocols,
and
efforts
to
educate
and
onboard
users
and
developers
to
new
infrastructure
solutions.
This
will
take
time,
but
we
are
optimistic
that
such
layers
will
be
common
and
widely
used
in
crypto
in
the
future.
Crypto
Briefing
–
Do
you
think
layer
3
has
the
potential
to
bridge
the
gap
between
traditional
applications
and
blockchain
technology?
Bill
Qian
–
I
believe
layer
3
solutions
will
continue
to
be
built
and
deployed.
Whether
they
will
be
successful
in
bridging
the
gap
between
traditional
apps
and
blockchain
depends
on
the
purpose,
usability
and
execution
of
the
team.
Success
will
rely
on
factors
like
user-friendliness,
scalability,
and
compatibility
with
existing
ecosystems.
I
think,
ultimately,
it
all
comes
down
to
how
people
embrace
and
use
these
technologies
in
real-world
scenarios.
Memecoins
may
outperform
top
altcoins
this
season,
but
there’s
a
catch
Crypto
Briefing
–
Do
you
see
a
potential
shift
in
VC
investment
strategies
towards
meme
coins,
even
if
they
don’t
necessarily
align
with
traditional
solid
projects?
Bill
Qian
–
Not
necessarily.
While
Cypher
Capital
maintains
its
core
focus
on
investing
in
blockchain
infrastructure,
we
acknowledge
the
significance
of
memes
in
capturing
market
attention.
Our
investment
in
Shiba
Inu
exemplifies
this
balance.
Shib’s
unique
position
as
both
a
meme
and
a
project
developing
infrastructure
aligns
with
our
strategy
of
striking
a
balance
between
attention
and
technology.
Crypto
Briefing
–
In
your
experience,
how
does
the
current
bull
cycle
differ
from
previous
ones
in
terms
of
meme
coin
mania?
How
long
do
you
think
it
will
take
VCs
to
adapt
to
this
shift?
Bill
Qian
–
Investors
are
directing
liquidity
towards
attention-grabbing
projects,
and
it’s
essential
to
acknowledge
the
increasing
interest
from
retail
investors
in
memes
during
this
cycle.
From
my
experience,
we’ve
witnessed
two
previous
cycles
where
retail
investors
saw
substantial
returns.
However,
the
bear
market
of
the
last
two
years
has
left
many
retail
investors
more
cautious
before
diving
into
projects.
This
season
will
be
different
—
maybe
memes
may
outperform
top
altcoins
but
it
is
very
tricky
for
investors
to
adapt
to
this
shift.
Regardless
of
the
short
trends,
it
is
important
to
diligently
study
market
dynamics
to
understand
what
drives
these
shifts
and
determine
where
it
makes
sense
to
take
calculated
risks.
While
meme-driven
projects
may
present
opportunities
for
significant
gains,
every
investor
should
remain
committed
to
their
investment
principles
and
conduct
thorough
analysis
before
making
any
investment
decisions
and
impulsively
adapting
to
new
shifts.
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