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Sheesha x Satoshi Club AMA Recap from 23rd of September

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 guests 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


Hello again, dear Satoshi Club community! We are pleased to announce AMA with Sheesha
Today our guest is @DeFiSheikh


Hello All.


Hello and welcome to Satoshi Club, @DeFiSheikh


Thank u very much for the warm welcome. Pleasure to be here!


How are you doing today


It’s an honor to have you here, we hope for a lot of great announcements about the project


Amazingly good. It’s good to end a very busy day talking to so many folks in here.


We are really excited about the upcoming AMA

Thanks for joining


Let’s start! Introduce yourself, please. How did you get to be involved in crypto & Sheesha
Tell us please about your position in Sheesha.


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!


Wow! It’s incredible how one person can do all this.


A lot of sacrifices had to be made!


Incredible experience, that’s what a good project needs

What is the essence of Sheesha?


I always wanted to launch my own project but it had to be one that suited my experience, skills, network and knowledge


That’s something that increase the possibility of success


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!


Also, we would like to know more about your team. Who is on the project team core?


There are so many factors to success. Hard work and luck being some of them


This is a very noble occupation.


Completely agree

What is meaning of the name of the project “Sheesha”?


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.


Is your team anonymous or not?


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


Thanks for great introduction, we have several questions which were selected for the 1st part. Ready to start?

Or want to add something


The team is fully visible on our social media assets as well as our awesome advisory board

Sure lets do this!


I like this camel

Q1 from Telegram User @linnlinnn197


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 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 specially 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


Really ambitious

What do you personally like best of all?


Do you have some NFT’s designs to share with us?


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 in our portfolio list the APY range will only increase furthee

One moment let me find one


It really sets you apart from other projects

That’s the aim. I always try to be different in everything I do personally


Wow, beautiful details

, congratulations to Vesa


Your artist is very talented


Yes we love him. An absolute gem


Thanks for your great answers.

Ready to proceed to the next question.


Most welcome.

Yes pls

Q2 from Telegram User @Jamesxmen


As I said before we wanted to do things differently to 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 a 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 option. We are in advanced discussions with a high end Tier 2 CEX at the moment and will then follow up with other top tier 2 CEXes. Once established on those we will look at engaging tier 1 exchanges.


What are the main usecases of the token?


It makes sense


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


Important reasons to buy the token

Well, let’s proceed with the next question


Amen

Hit me!

Q3 from Telegram User @Asela1112


Blimey, that’s a lot of questions in one! Let me try to answer ones that are not repeated.


Feel free


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 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 questions…

Talk about a tough crowd!


You are our guest! and the guest’s desire is the law


Great job, I think every part of the question is covered, would you like to add something before the next question?


Onto the next! Im sure there are many.

Q4 from Telegram User @yellowchamp
.


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.


You thought it out well.

Thanks a lot for the answers.

Ready for the next question?


I am a deep thinking person.

No sweat.

Defo.

Q5 from Telegram User @DK177


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 contact followed by our incubation team. Our website has a wealth of information.

https://www.sheeshafinance.io

Sheesha-Finance-Litepaper-Updated-09.22–1Download

Here is our lite paper also.


Btw, who are your most important partners at the moment?


Our partnership deck is below.

Sheesha-Finance-Partners-Deck-v2Download


Congratulations, big names there


All our portfolio projects are super important to us and we don’t have one that we favor over the other. Its like asking a parent who their most favorite child is!


Haha yes, we understand, we are happy to know you care about it


Humbled and grateful.


Absolutely right


Thanks for understanding.


Thanks for sharing and clarification

Ready for the next question?


Anytime.

Let’s roll.

Q6 from Telegram User @Pavel_Jarosh


MakerDAO is a stablecoin focused project that has disrupted the fiat sector. Compound is a lending/borrowing platform that has distupted banks. Uniswap is a DEX and has disrupted the exchange sector. Sheesha Finance is completely different than 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

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 initial price of SHEESHA on ETH was twice that of BSC. Also, those staking on ETH chain will only get tokens of projects in our portfolio that 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

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 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

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

Firstly launchpads only gives folks access to public sale and even then there is whitelist process which means not everybody can participate. With Sheesha u get tokens priced at 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 prorata share of all projects in our portfolio without having to add any more amount.

Q5 from Telegram user @Crypto_84

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

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

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

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

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

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$.
English Telegram group: https://t.me/Satoshi_club
Russian Telegram group: https://t.me/satoshi_club_ru
Spanish Telegram group: https://t.me/satoshi_club_spanish
Telegram Channel: https://t.me/satoshi_club_channel
Twitter: https://twitter.com/realsatoshiclub
Website: https://esatoshi.club/


Sheesha Telegram community: https://t.me/Sheesha_Finance
Twitter: https://twitter.com/SheeshaFinance_
Website: https://www.sheeshafinance.io/

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