Proposal to Whitelist Sheesha Finance (SHEESHA)
For this proposal to pass, it requires 35% quorum and 66.7% supermajority.
This proposal is expected to appear on Snapshot for voting on 2021-12-05T17:00:00Z. 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.
- Co-investment of 100,000 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 SHESHA 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 SHESHA pools are:
The SHEESHA/ETH Uniswap v2 pool on Ethereum with $6,643,390 liquidity, $23,324 daily volume, and an extrapolated APR from the 24hr fees of 0.38% [1].
The SHEESHA/WBNB PancakeSwap pool on BSC with $4.98m liquidity, $6.17K daily volume [2].
A co-investment of 100,000BNT opens up space for at least $412k of liquidity in the pool, with BNT at $4.12.
Token Security
There are two Sheesha Finance chains, on ERC20 and BEP20.
SHEESHA does not have an elastic supply, or rebase mechanism. The SEESHA token has a max supply cap of 100,000 SHEESHA for each chain. 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 top 15 contracts and addresses with the highest concentration of SHEESHA are the Uniswap v2 pool contract, Sheesha Vault contracts, token contract, team wallets for allocation, and wallets with 0.5667%, 0.4250%, 0.1417% , 0.1417% and 0.1148% of circulating supply.
Figure 1 - Top 15 contract and address with the highest concentration of SHEESHA [3]
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 two Sheesha Finance chains, on ERC20 and BEP20.
Each chain 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.
During the LGEs, 15,000 tokens on each 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 both chains for marketing. A further 10,000 tokens are for team, legal costs, advisors, and ongoing development.
The token reserve of 20,000 tokens on both chains 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, and Medium accounts.
Available Audits
Sheesha Finance has been audited by Zokyo.
Market and Trading Data
- SHEESHA [ERC20]’s price at the time of writing is $148.91.
- All-time high: N/A.
- All-time low: N/A.
- Price 90 days ago: N/A.
- 21,000 SHEESHA in circulation, with a maximum supply of 100,000 SHEESHA.
- The current market capitalization is $3,127,110.
- The SHEESHA token is available on Uniswap and PancakeSwap.
[1] Uniswap Info
[2] PancakeSwap
). I don’t see much of an issue with this proposal from my end and the co-investment certainly seems small enough that I am comfortable with voting “for” this whitelisting. Any reason why I can’t find your token on coingecko?
).
]