{"id":226011,"date":"2021-04-13T22:33:57","date_gmt":"2021-04-13T19:33:57","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/defi-mutual-fund-sheesha-finance-raises-9-4m\/"},"modified":"2021-04-13T22:33:57","modified_gmt":"2021-04-13T19:33:57","slug":"defi-mutual-fund-sheesha-finance-raises-9-4m","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/defi-mutual-fund-sheesha-finance-raises-9-4m\/","title":{"rendered":"# DeFi mutual fund Sheesha Finance raises $9.4M"},"content":{"rendered":"

“# DeFi mutual fund Sheesha Finance raises $9.4M <\/strong>”
\n<\/p>\n

Sheesha Finance, a decentralized finance mutual fund based in the United Arab Emirates, has raised $9.44 million over a two-week token sale \u2014 underscoring heightened investor demand for DeFi app<\/a>lications.\u00a0<\/p>\n

The token sale, known as a liquidity generation event, or LGE, excluded private sales and early contribution bonuses, which allowed micro-investments of as little as 0.0001 Ether (ETH). In total, LGE contributors doled out 3,171.31 ETH, valued at $6.35 million, and 7,769.43 Binance Coin (BNB), worth $3.08 million.<\/p>\n

Investors who contributed to the LGE can claim their liquidity provider tokens for staking in exchange for the native SHEESHA token. Holders of SHEESHA are eligible to receive rewards with every block mined. <\/p>\n

Saeed Hareb Al Darmaki, founder of Sheesha Finance, credited<\/a> the \u201cstrong support\u201d from the DeFi community for his company\u2019s initial success:<\/p>\n

\u201cWith the strong support of the DeFi community, strategic advisors and partners onboard, we can provide exposure to reputable projects in the DeFi space while offering the best APY options for our ecosystem participants.\u201d<\/p><\/blockquote>\n

Sheesha\u2019s advisory board includes David Namdar, founding partner of Galaxy Digital; Stakehound CEO Albert Castellana; and Michael Terpin of Transform Group, among others. <\/p>\n

Sheesha is attempting to make DeFi more accessible to mainstream investors by creating \u201ceasily convertible assets\u201d that can be used to gain exposure to both new and existing projects in the space. Decentralized finance remains one of the hottest verticals in the blockchain industry. DeFi protocols have locked in<\/a> nearly $108 billion worth of assets, according to the latest industry figures. <\/p>\n