Proposal: Onboard Sheesha with 50K BNT Trading Liquidity Limit

Proposal to Whitelist Sheesha Finance (SHEESHA)

For this proposal to pass, it requires a 35% quorum and 66.7% supermajority.

This proposal is expected to appear on Snapshot for voting on 9th January 2022. Make sure to stake your vBNT for voting before this date and time to participate in the DAO decision.

TL;DR

  • Proposal to whitelist SHEESHA.
  • Trading liquidity limit of 50,000 BNT.
  • There are no security concerns that could prohibit whitelist status.
  • There is no reason to doubt the legitimacy of the Sheesha Finance project. The team members are fully disclosed and can be found here.
  • The benefit to Bancor is clear. Providing SHEESHA liquidity will attract token LPs from the Sheesha community to swap on Bancor, and increase protocol trade volume.

Token Address: 0x232FB065D9d24c34708eeDbF03724f2e95ABE768

Project Website: Sheesha Finance

Liquidity

The deepest SHEESHA pools are:

The SHEESHA/ETH Uniswap v2 pool on Ethereum with US $5,810,793 liquidity, US $37,709 daily volume, and an extrapolated APR from the 24hr fees of 90.31% [1].

The SHEESHA/WBNB PancakeSwap pool on BSC with US $6,209,719 liquidity, US $256,502 daily volume [2].

The SHEESHA/USDT Quickswap pool on MATIC with US $1,103,804 liquidity, US $15,492 daily volume [3]

A trading liquidity limit of 50,000BNT opens up space for at least $340k of liquidity in the pool, with BNT at $3.40.

Token Security

There are three Sheesha Finance chains, with unique tokens for each ERC20 (eSheesha), BEP20 (bSheesha) and MATIC / Polygon (mSheesha).

SHEESHA does not have an elastic supply or rebase mechanism. The SHEESHA token has a max supply cap of 100,000 SHEESHA for Ethereum/BSC. 15,000 tokens on each chain were “burnt” during a smart contract migration event on both chains. Contracts are standard ERC-20 OpenZeppelin contracts. The contracts don’t have any permissions that grant administrators unrestricted mint/burn capabilities.

The max supply for SHEESHA on Polygon is 1,000,000,000.

The top 15 contracts and addresses with the highest concentration of SHEESHA are the Uniswap v2 pool contract, Sheesha Vault contracts, token contract, and team wallets for allocation.

Figure 1 - Top 15 contract and address with the highest concentration of SHEESHA [4]

Project

Sheesha Finance is an ambitious, one-of-a-kind, fiery DeFi multi-chain platform offering a level playing field for all investors to access a diversified portfolio of projects.

Founded and supported by established investment leaders in the blockchain space, Sheesha Finance’s exceptional team has experience in over 50 token launches.

Emerging from the multicultural and dynamic city of Dubai, Sheesha Finance is gearing up to erupt with the world’s best selection of DeFi flavours.

We all know that holding one type of crypto is never enough. When you are introduced to the multifaceted potential of crypto, who doesn’t become hungry to collect as many crypto flavours as you can?

With DeFi’s rapid growth showing no sign of slowing, attention and investment in the space increase every day. Sheesha Finance is well-positioned as the DeFi project underpinning an interconnected and thriving ecosystem.

Becoming official partners with Sheesha Finance opens your project to top tier VC access, project incubation and ecosystem support, diverse token holders and project stability throughout your acceleration phase.

Litepaper can be found here.

Tokenomics

There are three Sheesha Finance chains, ERC20, BEP20 and MATIC.

The Ethereum/BSC SHEESHA supply was created with 100,000 tokens. 15,000 tokens on each chain were “burnt” during a smart contract migration event on both chains.

Whilst the fully diluted supply is 100,000 on both chains, only 85,000 of these tokens will be accessible to the team and community.

The Polygon mSHEESHA supply was created with 1,000,000,000 tokens.

During the LGEs, 15,000 tokens on the Ethereum/BSC chain were made available for liquidity and are staked as LP on Uniswap and Pancakeswap for 24 months from April 2021 with fees to unstake beginning at 96% and decreasing by 4% every month.

Sheesha Finance native token rewards are distributed every network block…

Via the staking contracts each chain has available for 24 months from April 2021: - 10,000 SHEESHA token rewards for wallets staking single-sided SHEESHA tokens - 20,000 SHEESHA token rewards for wallets staking SHEESHA-LP tokens (tokens created by combining SHEESHA and ETH/BNB to an equal value on a DEX and then staked on the Sheesha platform.)

After the end of the 24-month period from the LGE, staking rewards will continue via redistribution of unstaking fees in order to reward and incentivise the staking community.

At Sheesha Finance, we know how important it is to advocate decentralized finance and build an engaged community. So we have allocated 10,000 tokens on Ethereum/BSC and 10% of the SHEESHA Supply on Polygon for marketing. A further 10,000 tokens on Ethereum/BSC and 10% of the SHEESHA supply on Polygon are for team, legal costs, advisors, and ongoing development.

The token reserve of 20,000 tokens on Ethereum/BSC and 10% of the SHEESHA supply on Polygon is for token swaps with partner projects as we fund the revolution in DeFi.

More information on Sheesha Finance can be found on Gitbook.

Figure 2 - SHEESHA token distribution.

Community and Communication

Sheesha Finance community is active on Telegram. The Shisha Finance team also operates official Twitter, Youtube, Medium, Discord, and Reddit accounts.

Available Audits

Sheesha Finance has been audited by Zokyo.

Market and Trading Data

  • SHEESHA [ERC20]’s price at the time of writing is $184.94.

  • All-time high: $1,004.58 (May 10, 2021).

  • All-time low: $168.43 (Dec 30, 2021).

  • Price 90 days ago: $184.12.

  • 21,543.00 SHEESHA in circulation, with a maximum supply of 100,000 SHEESHA.

  • The current market capitalization is $3,917,570.

  • The SHEESHA token is available on Uniswap v2, PancakeSwap, Quickswap and Bitmart

  • SHEESHA [BEP20]’s price at the time of writing is $279.09

  • All-time high: $358.43 (Nov 25, 2021).

  • All-time low: $69.39 (Sep 26, 2021).

  • Price 90 days ago: $102.46.

  • 21,543.00 SHEESHA in circulation, with a maximum supply of 100,000 SHEESHA.

  • The current market capitalization is $5,953,531

  • SHEESHA [MATIC]’s price at the time of writing is $0.04

  • All-time high: $0.048 (Dec 15, 2021)

  • All-time low: $0.038 (Dec 31, 2021).

  • Price 90 days ago: N/A

  • 5,000,000 SHEESHA in circulation, with a maximum supply of 1,000,000,000 SHEESHA.

  • The current market capitalization is $3,937,861

[1] Uniswap Info

[2] PancakeSwap

[4] Quickswap

[4] Sheesha Finance (SHEESHA) Token Tracker | Etherscan

Sheesha Finance Social Links

Website: https://sheeshafinance.io

Twitter: https://twitter.com/SheeshaFinance_

Telegram: Telegram: Contact @Sheesha_Finance

Reddit: https://www.reddit.com/r/SheeshaFinance_

Discord: Sheeshafinance's server

Medium: http://sheeshafinance-io.medium.com

YouTube: https://www.youtube.com/channel/UCOJlCe_sLTBfYz05l6DFbAg

2 Likes

Are you from the sheesha team? Will you promote to your community?

1 Like

The trading liquidity requested in this proposal is small enough to not be much of a risk for the protocol. I have also seen a lot of tweets from the Sheesha main twitter account promoting the onboarding of SHEESHA on bancor to be swayed in supporting this proposal.

1 Like