Liquidity Generation Event (LGE)
The LGEs ran for two weeks to ensure every community member had time to participate. With no pre-sales, everyone was on the same page, from whales to retail investors.
A Liquidity Generation Event (LGE) is an innovative initial token distribution mechanism enabling a free and fair participation process with no pre-sales, private sales, or bonuses.
For two weeks in April 2021 the Sheesha Finance community crowdfunded a multichain liquid cryptocurrency (SHEESHA) via two LGEs to stake and swap with tokenized projects. The intention was to help new projects focus on building their technology and boost mass-scale innovation in the crypto space.
Sheesha Finance chose to exclude private sales and early contribution bonuses to create an unprecedented fair and transparent offering for its community. The LGEs ran for two weeks to ensure every community member had time to participate. With no pre-sales, everyone was on the same page, from whales to retail investors.
There were 15,000 tokens on both the Ethereum and Binance Smart Chain (or 15% of the fully diluted supply) dedicated to the LGEs. With a dual-chain launch, users either chose our Ethereum LGE, our Binance Smart Chain LGE, or both!
The LGE tokens are now locked as liquidity on Uniswap and Pancakeswap and subject to an unstaking tax for 24 months post-LGE. You can still add LP tokens. Simply combine SHEESHA and ETH/BNB on a DEX, and stake them on the Sheesha Finance platform.
In total, LGE participants contributed 3171.31 ETH (valued at $6.35 million) and 7759.32 BNB (valued at $3.08 million) which determined the token prices on each chain post-LGE. All LGE participants will be able to collect a premium NFT art piece by a world-renowned crypto artist and Sheesha Finance artist in residence, VESA.
Sheesha DeFi NFT that will be distributed to early adopters and LGE participants
NOTE ON KYC
As our tokens were generated via a Liquidity Generation Event (LGE), we’ve received legal advice that our staking community does not need KYC. Thus, we offer the added advantage of enabling users to collect rewards without having to whitelist any single wallet.
Last modified 1yr ago