AMA Recap of Dude’s Army x Sheesha Finance
On Friday, April 2nd, Dude’s Army community had the great opportunity to host an AMA with Sheesha Finance’s team, very instructive and educational. We will share with you a little bit of what this experience was like.
The Dude👨💼:
Let’s start by hearing a bit about yourselves and your backgrounds!
We will go through some intro questions now and then dive deep into the project.
The Crypto Sheikh:
My name is Saeed Al Darmaki and I have a background in traditional investments, finance, banking and customer service. Most notably working at ADIA (3rd largest global sovereign fund) from 2009 to 2018.
I am the founder of Sheesha Finance and am very excited to see it go from idea stage to an actual live platform thats kicking off with our highly anticipated LGEs.
My crypto experience started more than 4 years ago when I co-founded Alphabit, a regulated crypto fund. I immediately understood the magnitude of disruption that bitcoin then ETH and finally DeFi as the killer app of crypto. This convinced me to heavily invest at an early stage in many crypto projects over the years. I have had the pleasure of advising many wonderful projects and the outcome of one those was being appointed Managing Director-MENA for CasperLabs.
Our advisory board is also mostly made up of people who founded crypto funds. This supports tremendously our vision of a decentralized fund focusing on DeFi
Benl324:
And my name is Benjamin Leff, I have been in blockchain since 2015 managing communities on Telegram that turned into ICOs. I became a community and social media manager for many ICOs and projects before heading off to work for Liquid Exchange in Vietnam as a Global Ambassador and then working for Kraken Exchange in the United States working in Business Development.
Last year I worked as Director of Communications for the Own Your Data Foundation and am now the very proud COO of Sheesha Finance!
The Dude👨💼:
WOW! That’s an amazing background!
Ok! Now explain our community what is Sheesha doing and how will it impact the market?
The Crypto Sheikh:
Right now the LGE is running on ETH and BSC. This is to ensure our SHEESHA token has plenty of locked liquidity for trading.
We are also in discussion with 90 existing DeFi projects to form partnerships and add their tokens to our portfolio which will be distributed to stakers on our platform
The Dude👨💼:
That’s great but I am referring about the product itself! Sorry for the question. I will rephrase it now!
What is Sheesha and what is it changing on DEFI?
The Crypto Sheikh:
Once we have a solid foundation of projects in our portfolio we will then move onto focusing on investing at the seed stage in high quality projects. Our fund management experience helps with getting access to tremendous deal flow
Sheesha Finance is a decentralized fund focusing on investing in DeFi projects. Stakers in our community will get rewarded in SHEESHA tokens and all project tokens that are in our portfolio
The Dude👨💼:
This will be next level! Let me ask you something though on that sense already
Benl324:
The list of potential partners seems to be growing by the day as more people and projects find out about us.
The Dude👨💼:
How will you bring projects onboard sheesha to give out tokens and exclusive deals?
The Crypto Sheikh:
Our platform would be very appealing to newcomers to the DeFi space who want a diversified exposure without having to research which projects to invest in. It would also be great for people who are too busy to build a portfolio and manage it
The Dude👨💼:
To get exposure to all these projects I just buy Sheesha and stake right?
The Crypto Sheikh:
The projects that we are talking to are ones that we have invested in early or advised before. By we I mean myself or the advisory board
You can stake just the SHEESHA token once it is listed. However the maximum reward allocation will be to LP token stakers
The Dude👨💼:
Since you have this strong background and relation to projects things will be way easier for sure.
Perfect since they will have more risk in the game
The Crypto Sheikh:
For upcoming projects we have an enormous network that gets access to new projects at a very early stage
The Dude👨💼:
And you add value to them by providing Sheesha community power correct?
What else?
Will Sheesha TVL be invested in these projects? or by staking sheesha you get the tokens?
The Crypto Sheikh:
Yes we get them exposure to our community. We also partner with them to offer their products/services to our community
The Dude👨💼:
Without directly having the TVL money invested
The Crypto Sheikh:
For existing projects partnerships we will swap SHEESHA tokens with their tokens. The reserve/treasury allocation of tokens will be used for this
The Dude👨💼:
So let’s do a quick summary here so:
You can buy Sheesha tokens to get access to several products, stake them to get exposure and airdrop of different projects and get exclusive deals?
The Crypto Sheikh:
We will always be transparent with everything we do and community will eventually control the platform via a DAO
By staking u automatically get tokens of all portfolio projects and new investments made u will get the new tokens without having to add any more money
No you get new project tokens for free!
The Dude👨💼:
Perfect so Sheesha tokens will also be used for Governance! That’s great to hear.
Love when community controls things
Is Sheesha community mainly on discord on telegram right now?
The Crypto Sheikh:
Telegram. We will open a discord channel soon
The Dude👨💼:
But you exchange in the treasure?
The Crypto Sheikh:
That’s a good play. Discord is good for voting and discussions.
And Yes. The main thing to note is that once u have decided the amount of BNB or ETH to commit to Sheesha Finance then u will never need to add any more money for future project tokens
The Dude👨💼:
Understood! Amazing! Super exciting to see the dealflow and this working live
The Crypto Sheikh:
We are solving one huge problem of staking/yield farming which is that APY starts high and then goes to zero over time. I envision our APY to start at a reasonable and solid base level then increasing over time as the portfolio performance improves
The Dude👨💼:
Community will control the APY voting in the DAO right?
The Crypto Sheikh:
Yes along with many other important decisions
The Dude👨💼:
Great! Besides that I see you will have several DEFI products right?
Can you comment on that?
The Crypto Sheikh:
We will also have NFT rewards to LGE participants along with NFT lotteries. Other products and services will be provided by our partners. We want to focus on managing the fund and platform
Community Questions
Q1 from Noé:
Sheesha is a pipe where you can smoke tobacco of various flavors, somehow this is related to the fact that the sheesha platform has the option to adopt tokens from different networks such as eth or Binance Smart chain ? Or was this name just a random thing?
The Crypto Sheikh:
The name was thought of in a way that we wanted it to be resembling something in the Middle East that is globally recognized. Which is what we want Sheesha Finance to be. We want to have functionality on all chains too
Q2 from Aston Rowi:
I read that there was no fundraising program from Investors. Then how do you manage to develop your project seamlessly? From where the funding/revenue coming?
The Crypto Sheikh:
We have bootstrapped the project to date
Q3 from Nafish Iqbal:
What will be the advantages of SHE token holder? I heard that token will be airdropped to all holders unlike the IDO. How does this process works Actually?
The Crypto Sheikh:
You can only get SHEESHA tokens by buying them on Uniswap or Pancakeswap after listing or by getting them as rewards after staking LP tokens u get from LGE
Q4 from Kevin Salom:
Our external partners already have the proper licensing and platforms in place to insure our tokens. We decided there is no need to reinvent the wheel when we have partners that excel at this. As we continue discussions with our partners, we will publicly announce the partnerships together (us and the partner).
Benl324:
NFT gifts are gifts from artists and games released by our partner game studio. You can see the demo video here https://www.youtube.com/watch?v=kBFJk3RyC7E
User programs for NFT gifts will be regularly organized so that you have the opportunity to access as many NFT products as possible.
Q5 from Yaritza:
One of the big problems of DeFi in the ETH chain is the high fees that have to be paid, so Sheesha will implement that the fees are only charged after withdrawing their LP tokens from our platform, but could you really tell us a little more about it? And of those% of taxes that you indicate?
The Crypto Sheikh:
The unstaking tax applies to keep liquidity locked. Network fees are a completely separate topic. We launched on BSC also for people who want to have low fees
Q6 from Hunny Singh:
I deposited 1BNB on the LGE (BSC) pool. Now how can I get my token? And is it possible to remove my contribution and get back my BNB? How can I do that?
The Crypto Sheikh:
Once u deposit then u cant remove it. As soon as LGE ends u will get prorata share of LP tokens which u stake to earn rewards and get exposure to our portfolio projects
Q7 from Gerardo Soto:
You point out that you will provide NFT tokens developed by quality artists to users, but really what characteristics will those NFTs have to attract users? just an attractive design?
Benl324:
As you may know, NFTs have become quite popular in blockchain. Like everything else, there are artists that have created world-renowned reputations. Their NFTs sell for tens of thousands of dollars, sometimes more. We believe in the long-term value of those types of NFTs. It is far more than a pretty picture. It is a digital asset that you are receiving by participating in our LGEs that you may otherwise not be able to afford or have direct access to the artists.
Q8 from Tolga:
Sheesha in another name Nargile — Turkish one — is used to smoke from water cannon via some kind of pipe.
How does it have any relation with the model of Sheesha? Getting smooth result from high liquidity?
The Crypto Sheikh:
Smoking Sheesha is a very social activity and community driven. We want to be seen as a community based project
Q9 from Bryant Javier:
I understand that Sheesha Finance is inspired to bring a powerful DeFi platform to the industry, but will it really achieve that goal simply by “generating liquidity”? Really what the DeFi industrials need is only liquidity?
The Crypto Sheikh:
It’s not just about liquidity. Its also about giving our community access to quality projects which they otherwise might not be able to get exposure to.
Q10 from Crypto Nx:
Is there any vesting period on teams’ tokens? Could you give us full details about the tokenomics?
The Crypto Sheikh:
Full tokenomics can be found on our gitbook and medium page. Team tokens are vested over 2 years with a one month cliff.
Q11 from Al Bianco:
You mention that to participate in Sheesha Finance you have to generate liquidity. Can you tell us why this is really necessary and I only have to contribute ETH / BNB why not contribute other cryptocurrencies?
The Crypto Sheikh:
ETH and BNB are the biggest cap crypto currencies and we are using their chains for our platform. Liquidity is key for a token based project to have any chance of succeeding and for traders to participate
About Sheesha Finance
Sheesha is an all-new hub that aggregates the most promising upcoming DeFi projects. Sheesha is a platform that aims to be transparent, easy to participate in, community-driven and fair to all participants, with great liquidity as well.
More information about Sheesha Finance:
Website: https://sheesha.finance
Telegram: https://t.me/sheeshafinance
Twitter: https://twitter.com/Sheeshafinance
