Saeed Al Darmaki, Sheesha Finance Founder
My past four years in the crypto and blockchain industry have given me a tremendous level of experience and enabled me to build a strong network of important people in the space. I have leveraged that experience and network to bring together a team of world-renowned advisors and seasoned industry professionals that would support each other in launching Sheesha Finance.
Sheesha Finance, unlike many other new DeFi projects, is virtually rug pull-proof. Rather than raise money from investors, Sheesha Finance has been bootstrapped by the founding team. The project kicked off with what we refer to as a Liquidity Generation Event (LGE), where participants contributed Ethereum (ETH) or Binance Coin (BNB) to a central pool to get Liquidity Provision tokens (LP tokens) on the respective network they chose to participate in.
All LP tokens are locked in providing liquidity on Uniswap and Pancakeswap and subject to an unstaking tax for 24 months, ensuring that our trading community is protected from mercenary frontrunning or rug pulls.
Sheesha Finance is a quick and easy way to have a diversified exposure to a wide array of DeFi projects without the need to find & research these projects on an individual basis or invest in them directly.
When you stake your LP tokens and our native SHEESHA token, you earn rewards in the form of SHEESHA tokens, our partner DeFi project tokens and, when fully hatched, upcoming project tokens from DeFi projects in our incubator program.
The crypto industry is community-driven and, as such, Sheesha Finance will be backed by our loyal community. There are plans in place to implement a governance DAO and hand over control of our platform to the community with the founding team there only to support the platform thereafter. We are already registered as a DAO in Wyoming. As a DAO, our native token holders will have voting rights on all important decisions related to the platform.
One element of blockchain technology known as Non-Fungible Tokens (NFTs) has grown exponentially in recent times. NFTs enable creative artists, including musicians, writers, performers, visual artists and filmmakers and the like, to tether digital representations of their works to the blockchain. This provides financial benefits to the artists and to crypto investors that purchase the NFTs. At Sheesha Finance, we will capitalise on this phenomenon and partner with highly reputable crypto artists in this space such as VESA to create art NFTs to reward loyal members of our community staking our LP and native tokens.
Our future Roadmap will also see lending/borrowing services where native tokens and LP tokens can be put up as collateral and participants can borrow against them to trade/ invest in other projects or use them for liquidity needs. We also aim to create a lottery program where participants can use native tokens to purchase digital lottery tickets to potentially win prize pools and NFTs. As DeFi evolves, Sheesha Finance will continue to bring more products and services that reward and engage our community.
Thank you for taking the time to read about Sheesha Finance and we hope that you will become a part of our community!