Sheesha Finance, a decentralized finance mutual fund based in the United Arab Emirates, has raised $9.44 million over a two-week token sale — underscoring heightened investor demand for DeFi applications.
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.