Networks & Protocols

DeFi platform Sheesha Finance and aggregator Plasma Finance team up to improve asset management

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Sheesha Finance, a comprehensive DeFi solution for investors to easily access a variety of projects while solving issues surrounding locked crypto assets, and Plasma Finance, a DeFi dashboard aggregating the most popular DeFi applications in one place, today announced a partnership to bring sustainable and easy-to-use asset management services to DeFi.

By partnering, Sheesha Finance and Plasma Finance aim to alleviate these difficulties by providing professional tools for easy asset management, leveraging Sheesha’s unique staking model and Plasma’s all-in-one DeFi platform. Embracing full-scale transparency and integrity, Sheesha Finance gives investors easy access to a diverse DeFi portfolio as ecosystem participants are rewarded with various DeFi tokens when they stake SHEESHA tokens or Liquidity Provision (LP) tokens. Plasma Finance’s platform simplifies the decentralized finance market for any type of investor by helping users manage their portfolios using a single interface, providing an attractive solution for both institutional and retail investors.

“Plasma Finance has been a bastion in the DeFi space since 2018 and has achieved an incredible number of milestones. These milestones have created an ecosystem in which people can swap/trade, create liquidity pools, staking, governance, lending, borrowing, yield farming, and fiat on/off-ramp. This ecosystem is not just a holistic DeFi platform, it is one that has been tested and developed for several years now. Plasma Finance has proven themselves as industry leaders, namely for their Top, Middle, and Web3.0 capabilities,” said Saeed Hareb Al Darmaki, founder of Sheesha Finance. “Partnering with them makes sense as Plasma Finance matches with the ethos of Sheesha Finance; one that provides transparency and ease-of-use for people wanting exposure in the DeFi space.”

“At PlasmaFinance, we stay steadfast to our goal of democratizing finance and bringing DeFi to the masses,” said Ilia Maksimenka, CEO of Plasma Finance. “For this to happen, we need partners that want to work on the same crucial aspects of improvements to the sector — safer and more responsible aspects that will bring much-needed assurance and sustainability. This is why Sheesha Finance makes sense as a logical team to collaborate with.”

To mark the partnership, Plasma Finance will soon be releasing details of the SHEESHA token listing on PlasmaSwap, with a move to open a liquidity pool after.

Additionally, Sheesha Finance will be able to further develop their ecosystem by combining efforts with the Plasma Finance Alliance, which includes the blockchain and application infrastructure with a mission to decentralize the centralized financial services industry (CeFi), PlasmaPay; a fast, secure, and liquid decentralized exchange (DEX) for institutional and professional traders, PlasmaSwap; and a public blockchain designed for DeFi, central bank digital currency (CBDC), Decentralized Autonomous Organization (DAO), and payments, PlasmaDLT.

Earlier this month, Sheesha Finance successfully concluded their funding round through an innovative token distribution mechanism, known as a Liquidity Generation Event (LGE), with over $9.44 million US raised in two weeks. The founding team bootstrapped Sheesha Finance, and will eventually hand over the control of the ecosystem to its native token holders through a DAO to maintain transparency and integrity.

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