Behind the scenes at Sheesha Finance, there is a volcano breaking new DeFi ground! The master plans for the future are all about passive earning for the small investor at tectonic scale!
So, whether you are weighing in, or already aped, here’s a quick list of answers to questions frequently asked in the Sheesha Finance Telegram group.
What is Sheesha Finance?
Sheesha Finance is a decentralised mutual fund providing seamless solutions for premium crypto portfolio diversification and rewards.
Sheesha Finance is committed to being the most comprehensive DeFi solution in the entire cryptosphere. The platform will enable investors to effortlessly receive value from a comprehensive suite of high profile projects simply by staking their $SHEESHA tokens on the Sheesha Finance platform.
How is Sheesha Finance different?
Assets that are staked on Sheesha Finance receive rewards both in $SHEESHA and tokens from the world’s top upcoming DeFi projects, solving the problem of lost potential income with locked liquidity for the everyday investor.
Already, Sheesha Finance is working hard to form partnerships with 90+ up and coming projects, and those rewards will flow directly to $SHEESHA holders who stake on the platform. There is no other platform out there with this scope of vision or scale.
What backs the SHEESHA tokens?
Sheesha Finance harnesses the mighty power of the collective working together as a whole. A new investor working alone can’t access the private sales that whales can. At Sheesha Finance, all the fish swimming together become the whale and collectively can access premium tokens at private sale prices.
Sheesha Finance is not an exclusive club. You too can access the power of the whale, simply by staking $SHEESHA tokens on the Sheesha Finance platform. There, investors can seamlessly diversify their portfolios without seeking out opportunities in isolation, which can be a time-consuming, costly and unpredictable process for newcomers.
How does it work?
When you stake your tokens on Sheesha Finance, you are entitled to claim your share of rewards tokens from a pool of partner projects based on the proportion of $SHEESHA that you hold.
As Sheesha Finance operates as a decentralised mutual fund, when you stake $SHEESHA tokens you become part of a robust cooperative VC with minimal effort.
The benefit is that you don’t need second sight to know what private sales are coming up or to negotiate the best deal. The Sheesha Finance team do the heavy lifting for you by investing $SHEESHA in partner projects, and then you see results on your personal dashboard and can claim them with your wallet. It’s a win-win for all, where the whole community benefits.
In future, Sheesha Finance will operate as a DAO, where you can vote with your $SHEESHA what projects you want the DAO to support.
What rewards are lined up so far?
It’s never too late to stake to be part of the rewards pool! As Sheesha Finance grows, holders will gain access to rewards from more and more partners.
So far, Sheesha Finance has announced investment partnerships with TeraBlock, Zignaly, Base Protocol, Plasma Finance, Royale Finance, Mozik, & Drife with more to come. Read the announcement here:
What wallets do you support?
Sheesha Finance currently only supports Metamask but will be adding functionality with Trust Wallet in future as so many community members have asked for it.
Why two chains?
Sheesha Finance is unlimited in the number of chains that it can integrate into its decentralised mutual funding model. Wherever there is a valuable ecosystem ready for investment, Sheesha Finance can leverage partnerships and invest in future growth.
Currently, Sheesha Finance has launched with just the two chains — Ethereum and Binance Smart Chain, because both these top market cap chains are most recognisable as being diversity hotspots in the crypto ecosystem. However, there are plans even in 2021 to add more, i.e. FTM.
All the chains have the exact same token metrics, so there will be nothing unexpected.
How many tokens are there?
Each chain has a total of 85,000 tokens, with 15,000 currently in circulation.
Why different prices?
$SHEESHA tokens operate on both Binance Smart Chain and Ethereum. However, they have entirely different prices due to the amount raised on each chain being different during the Liquidity Generation Event. Consider them as eSHEESHA and bSHEESHA. They are not swappable.
The original price of the tokens was determined by the respective values of the liquidity pools generated during the Liquidity Generation Events (LGE). Over time, the prices of the tokens on each chain will modulate according to sentiment and demand, and especially the confidence that investors have in each chain and the projects built on it.
Will there ever be a bridge?
Each chain is seen as having its own value based on its own projects. There are currently no plans for bridges between the $SHEESHA tokens. They are not swappable.
How do I know which one to buy?
Every blockchain has its own ethos, its own value, its own flavour. Which token you choose really depends on what your own personal opinions are about the future of decentralized finance and cryptocurrency. If you support rigorous decentralization, Ethereum may be your choice. If you support efficiency and speed, Binance might be your preference.
There is nothing to stop you from trying them all! Some small investors prefer BSC because the fees to claim partner rewards will be lower, but that is up to you. Each token will receive different partner rewards from its own chain.
Where do I buy SHEESHA?
Official Uniswap Link for ETH SHEESHA https://app.uniswap.org/#/swap?outputCurrency=0x232FB065D9d24c34708eeDbF03724f2e95ABE768
Trading Chart for ETH/SHEESHA https://www.dextools.io/app/uniswap/pair-explorer/0x602414a63c90801dc4337ee440b3454a6d2c275b
Official Pancake Link for BSC SHEESHA https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x232FB065D9d24c34708eeDbF03724f2e95ABE768
Trading Chart for BSC/SHEESHA https://bsc.tools/pair-explorer/0x6029396ff1fa7f59a967763307ffbf62034358ba
Only use the official links and beware of Scams.
What do I do with my $SHEESHA tokens?
Either hold and trade them or stake them on the Sheesha Finance platform in return for $SHEESHA and partner rewards.
What about if I participated in the LGE?
Your tokens are in the liquidity pool. They are locked for two years from the time of the LGE, at which time you will be able to withdraw them and the Ethereum or BNB that you provided, minus a 4% tax. Withdrawing them earlier will incur a tax.
What is the tax?
For tokens that were provided to the liquidity pool in return for contributing Ethereum or BNB, there is a tax is 96% on LP token the first month then a monthly 4% reduction over two years until there is a flat 4% unstaking tax.
If you buy SHEESHA LP tokens and stake them, there is a 2-year lock-up, same as for the LGE participants, with a 96% tax to unstake them decreasing 4% every month over the two years. In return, you proportionately receive 20% of the rewards pool.
If you buy single-sided SHEESHA tokens there is just the 4% unstaking tax and you can unstake anytime, in return proportionally for 10% of the rewards pool.
The tax is proportionately redistributed to other holders who stake their tokens. It’s there as an incentive to encourage staking for rewards. So, if you stake your tokens, and keep staking, you win.
There is no tax on the $SHEESHA rewards that you claim if you do not stake them. The tax is only for staked tokens. So if you receive $SHEESHA rewards and claim them directly to your wallet without staking, there is no 4% tax.
Partner rewards are not taxed.
I participated in the LGE, when do I get my NFT?
It will be distributed via smart contract during Q2 2021.
Who gets the rewards?
Everyone who has their $SHEESHA or LP staked on the Sheesha Finance platform will receive rewards. Depending on whether you have tokens staked on the Ethereum or BNB chains, you will receive Ethereum or BNB-based partner project token rewards. If your tokens aren’t staked and are in your wallet, or on an exchange, you won’t receive rewards.
What about the team tokens?
There is a total of 10,000 team & advisor tokens on each chain. The team tokens are not staked. There is 1-month cliff then they are vested over 24 months. If a team member or advisor wishes to stake they can do so but it is not mandatory.
Will $SHEESHA list on an exchange?
There are currently no plans to list on CEXs. Tokens are currently available through the Uniswap and Pancakeswap DEXs.
Is there an airdrop?
There will be no airdrops of $SHEESHA or partner tokens. If you wish to receive rewards you will need to stake your $SHEESHA and claim rewards into your wallet. When you claim, there is a transaction fee, which you will need to have.
Is there a time limit to claim rewards?
Rewards are linked to your wallet. Whenever you connect your wallet, you can claim your rewards so long as you have the transaction fee available.
To learn more, join the Sheesha Finance Telegram group.
About Sheesha Finance
Sheesha Finance is a one-stop shop for DeFi projects, similar to a DeFi mutual fund. Sheesha aims to solve locked cryptocurrency inaccessibility issues in DeFi by creating easily convertible assets that can be freely utilized to maximize participant rewards and gain exposure to existing and upcoming DeFi projects. After launch, Sheesha Finance plans to maintain market transparency and integrity by giving control to the native token holders through a Decentralized Autonomous Organization (DAO).