ShezmuPrice

(SHEZMU)

In September 2024, a vulnerability in a vault allowed an attacker to mint unauthorized collateral and drain assets from the protocol. The Shezmu team successfully negotiated a 'white-hat' agreement with the hacker. Following a bounty agreement, the hacker returned approximately 80% of the stolen assets, primarily in the form of ETH and WETH. Despite the recovery, the team has advised users to exercise caution and avoid interacting with the Oasis vault until all security upgrades and professional audits are finalized.

The SHEZMU token is the central utility asset of the ecosystem, used for minting Guardian NFTs, providing liquidity, and acting as collateral within the Oasis lending market. The protocol utilizes a 'Burn-to-Earn' mechanic where users must permanently destroy their SHEZMU tokens to mint 'Guardian' NFTs. This process creates deflationary pressure on the circulating supply. To further ensure ecosystem stability, the team burned a massive 95% of the initial token supply at launch.

Holders of Guardian NFTs earn rewards through two primary channels. First, they receive daily emissions of SHEZMU tokens, though these are subject to a claim fee that supports the protocol treasury. Second, they receive a share of the USDC rewards generated from the protocol's transaction taxes. Unlike many other reward-bearing NFT projects, Guardians have no lockup periods and can be traded at any time on the project's internal marketplace, known as The Bazaar.

Obelisks are tiered boosters—Granite, Limestone, and Basalt—designed to enhance the rewards earned by Guardian NFT holders. Each tier provides a different level of reward boost, ranging from 12.5% to 50%. Activating these Obelisks requires a combination of ETH and SHEZMU tokens. This tiered system allows participants to scale their reward potential based on their level of commitment and the specific tier of Obelisk they choose to utilize.

Oasis is a hybrid lending platform within the Shezmu ecosystem that allows users to access liquidity by borrowing against their digital assets. It is unique because it accepts both traditional tokens and NFTs as collateral. Users can borrow stablecoins like ShezUSD or assets like ShezETH, bridging the gap between NFT ownership and liquid capital. This model provides NFT holders with a way to utilize the value of their digital collectibles without needing to sell them.

SHEZMU is primarily traded on decentralized exchanges and can be found on platforms such as LBank. The protocol implements a specific tax structure to maintain its ecosystem: there is a 0% tax on buy transactions and a 6% tax on sell transactions. This sell tax is distributed equally between supporting liquidity, providing USDC rewards to Guardian holders, and funding the protocol's stability fund.