Sheesha Finance [BEP20]
Crypto Overview
Overview
Sheesha Finance is a DeFi mutual fund protocol that aims to provide a platform for diversified crypto investment. The project focuses on creating a multi-chain investment ecosystem where SHEESHA token holders can gain exposure to multiple DeFi projects through a single investment vehicle.
Purpose and Utility
The primary utility of SHEESHA tokens includes governance rights over the protocol's investment decisions and access to diversified DeFi investments. Token holders can participate in the protocol's decision-making process and receive rewards from the protocol's investment activities.
Business Model Analysis
The protocol operates as an investment fund that distributes rewards to token holders. While the core business model of investment diversification is permissible, some of the underlying DeFi projects in the portfolio may involve interest-bearing activities or lending protocols that would be considered non-compliant from a Sharia perspective.
Real-World Adoption
The project has established partnerships with various blockchain projects and maintains active development. However, a significant portion of its utility appears to revolve around DeFi lending and yield farming activities.
Token Distribution and Governance
The token distribution includes allocations for team members and early investors with standard vesting periods. The governance mechanism allows token holders to participate in investment decisions and protocol updates.
Crypto Impact
To assign a comfort level investing in Sheesha Finance [BEP20] from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Sheesha Finance [BEP20].
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