AMA RECAP — 23rd September
Sheesha x Satoshi Club AMA Recap
Hello, Satoshi clubbers! Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Sheesha and our guest was @DeFiSheikh — representative of Sheesha. The AMA took place on the 23rd of September.
The total reward pool was 500$ and has been split into 3 parts.
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1 — Introduction and Questions from the Website
Gold Rocket | Satoshi Club:
Hello again, dear Satoshi Club community! We are pleased to announce AMA with Sheesha. Today our guest is @DeFiSheikh
The Crypto Sheikh:
Hello All.
Gold Rocket | Satoshi Club:
Hello and welcome to Satoshi Club, @DeFiSheikh
The Crypto Sheikh:
Thank u very much for the warm welcome. Pleasure to be here!
Gold Rocket | Satoshi Club:
How are you doing today 😊
Andrés M. | Satoshi Club:
It’s an honour to have you here, we hope for a lot of great announcements about the project😁
The Crypto Sheikh:
Amazingly good. It’s good to end a very busy day talking to so many folks in here.
Gold Rocket | Satoshi Club:
We are really excited about the upcoming AMA 😊
Thanks for joining😊
Gold Rocket | Satoshi Club:
Let’s start! Introduce yourself, please. How did you get to be involved in crypto & Sheesha. Tell us please about your position in Sheesha.
The Crypto Sheikh:
There are many announcements to come out over the next few weeks, months, and years from Sheesha Finance.
I share our excitement! Absolute pleasure 😁
My name is Saeed Al Darmaki and I am the founder of Sheesha Finance, Managing Director MENA for CasperLabs, Co-Founder of Alphabit crypto fund, advisor to a dozen + crypto companies, an angel investor in 50+ crypto companies over the last 5 years. Before getting into the crypto industry I was working for Abu Dhabi Investment Authority (3rd largest sovereign wealth fund) for 9 years. I started my journey in this amazing space by co-founding Alphabit.
Enjoyed working in this wonderful industry that I left ADIA in June 2018 in the middle of the bear market!
Gold Rocket | Satoshi Club:
Wow! It’s incredible how one person can do all this. 😁😍
The Crypto Sheikh:
A lot of sacrifices had to be made!
Andrés M. | Satoshi Club:
Incredible experience, that’s what a good project needs
What is the essence of Sheesha?
The Crypto Sheikh:
I always wanted to launch my own project but it had to be one that suited my experience, skills, network and knowledge
Andrés M. | Satoshi Club:
That’s something that increases the possibility of success👏
The Crypto Sheikh:
The essence of Sheesha Finance is to give the whole crypto community the opportunity to be an early-stage investor in projects without the need to have access to deal flow and the reputation required to access top projects at an early stage that only a very few select get the opportunity to do. I am a big believer in giving back to the community. Crypto has given me so much that I wanted everybody to experience that!
Gold Rocket | Satoshi Club:
Also, we would like to know more about your team. Who is on the project team core?
The Crypto Sheikh:
There are so many factors to success. Hard work and luck being some of them
Gold Rocket | Satoshi Club:
This is a very noble occupation.😊
Andrés M. | Satoshi Club:
Completely agree
What is the meaning of the name of the project “Sheesha”?
The Crypto Sheikh:
We have Jei Rahman as our Chief Investment Officer, Nathan Cooper as our Chief Program Officer, Ian P as our Marketing Director, Mina Vucinic as our Ops director and Zokyo is our tech partner.
Cheers.
Gold Rocket | Satoshi Club:
Is your team anonymous or not?
The Crypto Sheikh:
A “Sheesha” is the Arabic name for a hookah or nargeela as is known in other parts of the world. It is very much an accessory that is used in most social settings in the Middle East where it originates and where our project also originates from but is also globally recognized which is what our project strives to be.
Gold Rocket | Satoshi Club:
Thanks for a great introduction, we have several questions which were selected for the 1st part. Ready to start?
Or want to add something😁
The Crypto Sheikh:
The team is fully visible on our social media assets as well as our awesome advisory board.
Sure let's do this!
Gold Rocket | Satoshi Club:
I like this camel😁
Q1 from Telegram User @linnlinnn197
Sheesha Finance’s ambition is really big when it comes to DeVC, DAO, NFT marketplace and incubator house. However, targeting in the short term is important while the DeFi crypto market is flourishing. So what are Sheesha’s main development goals in Q4 2021 and Q1 2022?
The Crypto Sheikh:
We do too!
Great question. We recently released a revamped version of our website and dashboard. We then started deploying smart contracts to distribute tokens of the projects in our portfolio to folks staking on our platform. We will continue deploying distribution contracts so stakers get maximum returns. At the moment we are operational on the ETH chain and BSC. We want to incubate or seed projects on all the other chains out there and the next step will be to deploy staking and distribution contracts on all those chains. We also want to reward our early supporters with NFTs that are minted based on extremely beautiful art pieces that Vesa Kivenin our NFT ambassador has created especially for us. We will then invite top digital artists to create limited edition art pieces that we will mint NFTs for and put up for lottery draws. Finally, we aim to create our own NFT marketplace. Other plans are to transition governance of the platform to a DAO so the community decides on investments in the future. I can keep going but I believe this is ample for the time being
Gold Rocket | Satoshi Club:
Really ambitious😁🔥
What do you personally like best of all?
Andrés M. | Satoshi Club:
Do you have some NFT’s designs to share with us?
The Crypto Sheikh:
I personally like how we are doing the opposite of most staking/yield farming protocols where they start with unsustainably high APYs which goes to zero over time. With us, we started with a stable APY of around 30%-60% and have worked up to 100%-350% range. As more projects are on our portfolio list, the APY range will only increase further.
One moment let me find one.
Gold Rocket | Satoshi Club:
It really sets you apart from other projects👍
The Crypto Sheikh:
That’s the aim. I always try to be different in everything I do personally
Andrés M. | Satoshi Club:
Wow, beautiful details 👏, congratulations to Vesa
Gold Rocket | Satoshi Club:
Your artist is very talented😍
The Crypto Sheikh:
Yes, we love him. An absolute gem.
Gold Rocket | Satoshi Club:
Thanks for your great answers.
Ready to proceed to the next question.
The Crypto Sheikh:
Most welcome.
Yes pls
Q2 from Telegram User @Jamesxmen
SHEESHA tokens are available on Pancakeswap & Uniswap at the moment. What are the causes to decide going for a Fair launch called LGE (Liquidity Generation Event) on Pancakeswap & Uniswap without any presale or private sale? As my knowledge, Uniswap incur high gas fees since it developed on Ethereum mainnet. So Will this Cause a drastic reduction of SHEESHA buyers? Aren’t you up to list SHEESHA token on CEXs like Binance,Hotbit exchanges? What will be the next exchange, you already negotiated with to list SHEESHA token?
The Crypto Sheikh:
As I said before we wanted to do things differently from other projects. We believe that liquidity is key for any project to be successful and most other projects out there list with very low liquidity. In our case, we listed on Uniswap and PancakeSwap with combined liquidity of around $19mm. We wanted to be on ETH as that is where most liquidity is but also on BSC as gas fees are much lower there. We wanted those who wanted to participate with small amounts to have cheaper gas fee options. We are in advanced discussions with a high-end Tier 2 CEX at the moment and will then follow up with other top tiers 2 CEXes. Once established on those we will look at engaging tier 1 exchanges.
Andrés M. | Satoshi Club:
What are the main usecases of the token?
Gold Rocket | Satoshi Club:
It makes sense 🙂
The Crypto Sheikh:
The main use case is to stake our token in order to get rewards in both SHEESHA tokens and portfolio project tokens. The more returns our portfolio makes the higher the APY for staking and the more likely folks will want to stake. NFT lotteries will also require tickets to be bought with SHEESHA tokens. To participate in the planned DAO folks need to have tokens staked also. As we go along we will aim to bring more use cases to our token
Andrés M. | Satoshi Club:
Important reasons to buy the token👏🥳
Well, let’s proceed with the next question
The Crypto Sheikh:
Amen
Hit me!
Q3 from Telegram User @Asela1112
As I noticed, Sheesha Finance has involved in the NFT sector also & you mentioned that Users can sell, transfer, stake & utilize their NFTs within Sheesha Finance while Monetizing NFTs by creating a own their digital metaverse. Can you tell me, what kind of NFTs Sheesha Finance provide to NFTs collectors? Have they real-world benefits? What is the average price range, you intend to Monetize initially in Sheesha NFT marketplace? And I also know that you allow the Sheesha community to create NFT artworks, For example VESA can be referred. Could you please tell us Who is this artist VESA & How will he help to gain mass adoption on NFTs within Sheesha Finance ecosystem? What kind of advantages, will he claim for his amazing service? Will you hire more artists in future So that the talented artists within your community will be able to apply to be an NFT artist?
The Crypto Sheikh:
Blimey, that’s a lot of questions in one! Let me try to answer ones that are not repeated.
Gold Rocket | Satoshi Club:
Feel free😂
The Crypto Sheikh:
NFTs on offer will be ones that are limited edition by top-quality artists like VESA and specially created for Sheesha Finance. We will also look to get NFTs created from real-world assets and those lucky to win them in the lottery will have rights to those assets. We will start small and work our way up the same way we launched the project in general. Please look up Vesa Kivenin, he is well documented online and his quality as well as the top quality of other artists we aim to work with will surely get the attention of folks that are following the NFT sector. His work along with the work of other top artists will not come free and we will compensate by giving him and them a cut of the proceeds from the lotteries. Hope that answers all your questions…
Talk about a tough crowd!
Gold Rocket | Satoshi Club:
You are our guest! and the guest’s desire is the law 😁😉
Andrés M. | Satoshi Club:
Great job, I think every part of the question is covered, would you like to add something before the next question?😁
The Crypto Sheikh:
Onto the next! I'm sure there are many.
Q4 from Telegram User @yellowchamp
I found out that some of the benefits of Sheesha Finance are we can vote to support the future projects we crave most and we can buy one token, & diversify our portfolio easily and hassle-free. So, by the voting project we support, what are the requirements to be able to vote? What are the advantages of voting and if projects have the most vote, how it will give benefits to users? As we can buy one token in your platform, & diversify our portfolio easily and hassle-free, so does your platform will diversify our portfolio or as users, it is our responsibility to diversify our portfolio? How would our portfolio be diversified and what are the opportunities you are offering to diversify our portfolio in many ways? Do you take responsibility if we get loss by diversifying our portfolio? Thank you.
The Crypto Sheikh:
So the team will always be researching, analyzing and carrying out due diligence on many projects in the background. Those that make it through the rigorous initial filter process will then be specified and outlined to the community to choose from. Decisions can also be made on how much to invest in the shortlist of projects as well as many other things including hiring/firing staff and other operational activities. There are no guarantees with investing and one should never put any money into investing, especially in high-risk early-stage projects, if they are not prepared to lose that money. We try to mitigate risk by giving as much information as possible on a project and doing thorough research and analysis on behalf of the community but there will always be a chance of failure. Given our track record and experience, we like to think that our winners will far outweigh the failures.
I for one will put in a proposal to the community on whether the core team should be replaced or not. If we are not doing a good job then we should rightly be voted out.
Gold Rocket | Satoshi Club:
You thought it out well.
Thanks a lot for the answers.
Ready for the next question?
The Crypto Sheikh:
I am a deep thinking person.
No sweat.
Defo.
Q5 from Telegram User @DK177
You have mentioned potential users of Sheesha, retail investors, VCs, market-ready projects, and early-stage projects. Further, you have described how these parties can earn benefits from your project. It is very clear and thank you for the explanation. Could you please let us know from where should they initiate the process? For example, early-stage projects can join the Sheesha Finance Incubator. How do they join that? Whom should they contact? Similarly, please separately explain the first stage for retail investors, VCs, and market-ready projects. If you have any educational materials or guided videos, please provide the links too.
The Crypto Sheikh:
We have an email address showing on our website where projects can contact us but we will also have a google doc form for potential projects to complete. Our CIO will be the main initial point of the contact followed by our incubation team. Our website has a wealth of information.
Sheesha-Finance-Litepaper-Updated-09.22–1
Here is our lite paper also.
Andrés M. | Satoshi Club:
Btw, who are your most important partners at the moment?
The Crypto Sheikh:
Our partnership deck is below.
Sheesha-Finance-Partners-Deck-v2Download
Andrés M. | Satoshi Club:
Congratulations, big names there 😃👏
The Crypto Sheikh:
All our portfolio projects are super important to us and we don’t have one that we favour over the other. It's like asking a parent who their most favourite child is!
Andrés M. | Satoshi Club:
Haha yes, we understand, we are happy to know you care about it
The Crypto Sheikh:
Humbled and grateful.
Gold Rocket | Satoshi Club:
Absolutely right😊😍😁
The Crypto Sheikh:
Thanks for understanding.
Gold Rocket | Satoshi Club:
Thanks for sharing and clarification 😊
Ready for the next question?
The Crypto Sheikh:
Anytime.
Let’s roll.
Q6 from Telegram User @Pavel_Jarosh
As far as I know, In April 2021, the volume of liquidity in DeFi sector exceeded USD 100 billion. The largest players globally are MakerDAO, Compound Finance and Uniswap. Could you provide some examples of what makes Sheesha different from such players? What are Sheesha’s advantages compared to them?
The Crypto Sheikh:
MakerDAO is a stable coin focused project that has disrupted the fiat sector. Compound is a lending/borrowing platform that has disrupted banks. Uniswap is a DEX and has disrupted the exchange sector. Sheesha Finance is completely different from all those platforms in that it is disrupting the traditional crypto VC fund sector. As far as we are aware there is nobody doing what we are doing at the moment!
Part 2 — live questions from the Telegram community
Q1 from Telegram user @highpee
SHEESHA is currently live on BSC and ETHEREUM with the same total supply of 85,000 tokens. What amazes me however is that despite these tokens having the same maximum and circulating supply, their PRICES ARE DIFFERENT on these two blockchains. Can you explain why this is so? Is there no possibility to have a bridge that will ensure the tokens will be swappable?
The Crypto Sheikh:
Good question. The reason they have different prices is that there were LGE contracts deployed on ETH and BSC. The amount deposited on ETH was twice that of BSC so that meant the initial price of SHEESHA on ETH was twice that of BSC. Also, those staking on the ETH chain will only get tokens of projects in our portfolio that are listed on ETH and not BSC. Those staking on BSC will only get tokens of projects in our portfolio that are listed on BSC. Stakers on both chains will get SHEESHA tokens as rewards on top. There is no possibility to bridge between ETH and BSC purposely to prevent arbitrage
Q2 from Telegram user @King_Raja
What will be the Minumum & maximum staking Period On your platform,
When Can I withdraw my Earning?
The Crypto Sheikh:
There is no min or max staking period in general. Those staking LP tokens will be locked up for 2 years thou. Those staking SHEESHA tokens can unstake anytime but will incur a 4% tax on the staked SHEESHA tokens. Rewards in SHEESHA and project tokens are not taxable and can be claimed at any time.
Q3 from Telegram user @munishgmr
As I am From India,
In HINDI Language “SHEESHA means “GLASS”,
Which is crystal & Clear, Do You think in some ways, This meaning can be perfect for the Project?
The Crypto Sheikh:
Thanks for sharing that fact! Yes, we aim to be very transparent and to the point with everything we do!
Q4 from Telegram user @Jonathantross
There are many launchpads where big Whales receive preferential awards , Can you tell some advantages of Sheesha Finance “DeVC” which makes it superior than other launchpads ?
The Crypto Sheikh:
Firstly launchpads only give folks access to public sale and even then there is a whitelist process which means not everybody can participate. With Sheesha u get tokens priced at the seed stage. Not only that but u r guaranteed tokens depending on ur staked amount compared to the total staked on our platform. Finally, with launchpads, u have to pay an amount for each project u manage to get access to. With Sheesha u only stake one time and one amount and u get pro-rata share of all projects in our portfolio without having to add any more amount.
Q5 from Telegram user @Crypto_84
I see You planned to reward art NFTs to loyal Members of Your Community, Can You tell how can Community play an Important role in the Success of Project?
The Crypto Sheikh:
Our community is our top priority and we ultimately are providing them with a unique product that they will not find anywhere else. It is the community that supports a project when it is in a tough patch. We had a tough start and without our community, we would never have come out of it stronger and be in a strong position now. So thanks to all our community for their continued support in the good and bad times.
Q6 from Telegram user @captainprice111
What is the purpose and story of Sheesha Finance’s creation? Could you tell us about what kind of problems the Sheesha Finance platform focuses on solving in the current DeFi market and the ways you find solutions?
The Crypto Sheikh:
I personally participated in so many DeFi protocols over the last couple of years and it became clear to me there were a lot of common issues with most of them. Rug pulls from anonymous founders, unsustainable APY, lack of use case creativity. Sheesha was built to tackle all those issues and beyond.
Q7 from Telegram user @mercy_global
I see Three Partners have been added to the platform,
1-Zignaly
2-TeraBlock
3-DRIFE
When can we other Partners on the Platform?
The Crypto Sheikh:
There is also Royale Finance and Plasma Finance added to the platform and having their tokens distributed at the moment. Other projects that we have signed on we will be adding once the distribution contracts specific to them have been created, audited and the project has been listed on exchanges along with their tokens being delivered to the contracts.
Q8 from Telegram user @Arisabela
Reading about your project I see that one of the most important concepts in Sheesha is to provide access to investors and tools that facilitate the conversion of assets that can be used freely, but I wonder, at what cost? Can you tell us about the rates implemented on your platform? How is their redistribution and what benefits can holders have on what is collected?
The Crypto Sheikh:
The only fees on our platform are the gas fees for unstacking, staking, and claiming rewards. The unstacking tax is put back into the ecosystem and a small part of the tax is burnt to make our token deflationary. On the lottery draws 10% will go to charities that are voted for by the community.
Q9 from Telegram user @Nhairym
Do you consider that it is really necessary to bridge the gap between traditional finance and the blockchain industry, why? talk about blockchain and finance. decentralized is necessarily the same or should we view it as a system and its tool for optimal development, how does Sheesha Finance plan to maintain full transparency and integrity within the DeFi space?
The Crypto Sheikh:
It is not only a necessity but also inevitable. For far too long banks and governments banks have abused the trust their people have put in them. Blockchain brings in that trust-less layer that we have all been waiting for. Decentralized Finance is taking market share away from the greedy banks, brokers and agents and giving it to the average person. Sheesha Finance is playing its part in that use case.
Q10 from Telegram user @NAZMP2
Can you tell us how does your NFT lottery works? How many tickets can one purchase? And how will you the draw,is it daily or weekly?
The Crypto Sheikh:
One can purchase as many tickets as they wish and the only currency that can be used to purchase those tickets will be SHEESHA. We will start off with once a month then make it more regularly as we get traction and have more artists create NFTs for us.
Part 3 — Quiz Results
In the final part, we tested your knowledge in terms of Sheesha. They’ve prepared 4 questions for this part. The total reward pool for the quiz was 300$.
About Sheesha Finance
Sheesha Finance is a leading decentralized DeFi Staking Platform allowing for premium cryptocurrency portfolio diversification and rewards. Sheesha Finance rewards investors of any size, from small to large ticket holders, with unlimited DeFi tokens from a diversified portfolio of projects. Sheesha Finance’s easily convertible assets can be freely utilized to maximize rewards and gain exposure to existing and upcoming DeFi projects. With plans to become a member-managed Decentralised Autonomous Organization (DAO), Sheesha Finance is dedicated to upholding full transparency and integrity within the DeFi space.
Stay up to date with everything Sheesha Finance 👇
Website: https://sheeshafinance.io
Twitter: https://twitter.com/SheeshaFinance_
Telegram: https://t.me/Sheesha_Finance
Reddit: https://www.reddit.com/r/SheeshaFinance_
LinkedIn: https://www.linkedin.com/company/sheeshafinance/
